Financial and Banking News
BBK Reports 36.5% Drop in Mid-Year Profits
The Bahrain-based Bank of Bahrain and Kuwait (BBK) has reported first half 1985 profits of BD4.7mn ($12.5mn), a 36.5% decline from BD7.4mn ($19.7mn) in the corresponding period of 1984. According to a BBK officer, the fall in profits is attributable to the conservative policy pursued by the bank in the first half of the year in an attempt to hedge against adverse economic conditions. During the...