From Arabtimesonline.com: Gulf Bank expects to boost its profits in the third quarter and sees 2011 as a year of recovery, as the lender leaves its aggressive provisioning policy behind it, Chief Executive Michel Accad said.
Gulf Bank, which was rescued by the Kuwaiti central bank in 2008, after about 260 million dinars ($902.1 million) of derivatives losses, is completely provisioned against bad loans and on track for a comeback, Accad said……………………………………….Full Article: Source