No. 12



Burgan Bank Posts 510% Profit In 2000

Kuwaits Burgan Bank reported on 28 January that it had achieved profits of KD20.023mn ($65.2mn) for the year 2000 a rise of 510% over the previous years result of KD3.28mn ($10.7mn). While part of the dramatic increase is due to the high level of provisioning costs in the year 1999, which dented net income, it is also a product of net gains from investment securities where disposals have occurred. In line with IAS25...