Financial and Banking News
Burgan Bank Declares Profit, Due To Central Bank Support
Kuwait-based Burgan Bank has declared profits of KD12.4mn ($41mn) for 1992,representing a return on average equity of 9.47% and a return on average assetsof 1.39%. The bank will make a 7.5% bonus share issue, costing KD4.8mn, andallocate nearly all of the remaining profit to reserves. The bank did not needto make any provisions in 1992 and was even able to make some...