Financial and Banking News
National Bank of Kuwait Continues to Increase Profits but Cuts Dividend
National Bank of Kuwait (NBK) has declared a net profit of KD42.5mn ($138mn)for 1992. The bank reported profits of KD41.6mn for the two years to the end ofDecember 1991. The dividend has been cut to 30% (20% cash and 10% bonus shares)compared to 35% in recent years (although a 30% dividend is exceptional by Gulfstandards). Assets rose by 2.6% in 1992 and...