Nov 16 2011 |
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Kuwait's Gulf Bank Expects To Double 2011 Pft Vs Previous Yr-Report
Wednesday, Nov 16, 2011
BEIRUT (Zawya Dow Jones)--Kuwait's Gulf Bank expects its 2011 full-year profit to nearly double from that in 2010, Kuwait-based Al Rai daily reports Wednesday citing an executive.
The bank had posted a net profit of 19 million Kuwaiti dinars ($69.22 million) last year and a loss of KWD28 million in 2009, the paper reports.
The allocations for provisions that Gulf Bank this year will be lower 50% compared with the previous year, Michel Accad, the lender's chief executive, told Al Rai.
Newspaper website: http://www.alraimedia.com/Article.aspx?id=309905&date=16112011
Copyright (c) 2011 Dow Jones & Co.
(END) Dow Jones Newswires
16-11-11 0601GMT
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