VOL. XXXVI
NO. 31
3-MAY-1993
Financial and Banking News
BANK RESULTS
UBK Reports Increased Income; Forms New Asset Management Subsidiary
London-based United Bank of Kuwait (UBK) has reported profits of 7.5mn for1992. In 1991 the bank declared net profits of 10.7mn after taking intoaccount a 4.5mn write-back of extraordinary provisions. Operating profits in1992 were up 35% at 21.7mn in 1992.
UBK remains a liquid bank with 52% of its balance sheet classed as"current assets." The General Manager, Mr....
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