Financial and Banking News
KAB Increases Profit By 43I
The Bahrain-based Kuwait Asia Bank (KAB) has recorded a 43% increase in its net profit to $5.3mn in 1984, while assets rose 28% to $574mn. 9% of the loan portfolio was in the Asia Pacific region, with 38% in the Middle East. The bank announced that for two countries facing rescheduling negotiations its exposure was $7.5mn in Morocco and $11.2mn in the Philippines.