NO. 20


Financial andBanking News

Bank Results

The Gulf Bank Announces 22% Increase In Profits

Kuwait-based Gulf Bank has announced a 22% increase in profits for 1993.Balance sheet size rose by 7% to KD1,249.9mn ($4,194mn). The directors arerecommending to increase the cash dividend to 7% and the bonus share issue to10%. The Gulf Bank was the second biggest Kuwaiti bank, ranked by equity, at theend of 1992. Full financial figures will be issued after the shareholders'...