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Islamic Finance Briefing - Categorized | Banking, Performance more

Kuwait, Bahrain bank profits fall

Posted on 27 October 2009

From Thepeninsulaqatar.com: Major Kuwaiti and Bahraini banks reported a sharp decline in third-quarter profit yesterday as they raised provisions to cover bad loans to Saudi firms.

One lender, Kuwait’s Gulf Bank said it expected bad loans would weigh on profits up to mid-2010. The bank, which did not publish a net profit or loss figure for the quarter ended September 30, also used its entire operating profit of $147.1m from the third quarter as provisions…………………….Full Article: Source

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