Financial and Banking News
KAB Reports Strong Profit Growth
Kuwait Asia Bank (KAB) continues to buck the mildly recessive trend affecting Bahrain-based OBUs by reporting third quarter net income of $7.4mn, compared with $4.1mn for the equivalent period last year. Net income during the first half of this year totaled $4.5mn. Over a twelve month period total assets (less Contras) grew by 19% from $422mn to $502mn, although the shrinkage in the interbank market is reflected...