No. 26



UBK Sees Profits Fall 29%

A heightened competitive environment in certain of its core markets has caused London-based United Bank of Kuwait (UBK) to report a 29% fall in post-tax profits to 8mn for 1995 and a cut in the dividend to 7.7mn. Mr. Chris Keen, the bank's General Manager, admits the result is disappointing and says that the bank's targets are a good deal higher but that UBK has identified a number of areas which will lead to higher...