NO. 26


Financial and Banking News

Bank Results

Reduced Provisions Help UBK To Higher Profits And Increased Dividend

London-based United Bank of Kuwait, which is owned by 11 Kuwaiti financialinstitutions, has reported profits of œ11.2mn for 1994, an increase of 20% overthe previous year. The bank has increased its dividend to 9% from 7%. Thisinvolves the distribution of œ10.4mn in cash, which represents 92% of profitfor the year. The bank's capital adequacy ratio was 18.2%...