VOL. XXXVIII

NO. 35

29-MAY-1995

Financial and Banking News

Bank Results

NBK Announces Improved Profits In The Face Of Increased Competition

National Bank of Kuwait (NBK), the largest bank in the emirate, has announceda 6% increase in net profits to KD55.1mn ($183.6mn) for 1994. The dividends inthe form of cash have been increased from KD28mn to KD40.1mn and the sharedividend has been cut from KD12.3mn to KD6.7mn. The cash dividend represents adistribution of 42% of gross profits, up from 35% in...