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Islamic Finance Briefing - Categorized | Banking, Performance more

Kuwait banking sector profit soars 34 pct in Q2

Posted on 17 August 2010

From Arabtimesonline.com: Aggregate profit of the GCC banking sector (banks under coverage excluding DIB and Burgan bank) posted a decline of 5%YoY and 10%QoQ in 2Q10. Poor bottom-line performance was exhibited by UAE banks that declined by 30%YoY with a further dampening act coming from KSA banks which were down by 7%YoY.
The aggregate net interest income of GCC banks grew by a meager 1%YoY, spelling out stagnancy in the top-line……………………………………….Full Article: Source

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