Financial and Banking News
Kuwait's Gulf Bank Returns To Profit
The Gulf Bank, the second biggest commercial bank in Kuwait, has declaredprofits of KD14.9mn ($49.4mn) for 1992, a healthy improvement on the previousyear's performance. The bank declared net losses of KD80.3mn for 1991, mainlydue to exceptional provisions. Operating profit before provisions was KD8.7mn.During 1992 the bank was able to increase its loan portfolio and customerdeposit base, but...