GIC Announces 2001$85.3Mn Profit Amid Close Market Scrutiny
Following a meeting held by the board of directors on 15April, Kuwaits Gulf Investment Corporation (GIC) announced that it had earneda net income of $85.3mn for the year 2001 (generating a return on paid-upcapital of 11.4% and a return on equity of 8.3%), or 24% less than the $111.7mnof the previous year (MEES, 12 March2001). Despite the drop off and a provisioning cost of $13.8mn (compared to$1.0mn in...
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