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Sovereign Wealth Funds Briefing - Categorized | Performance

Kuwait’s Gulf Bank narrows 2009 loss

Posted on 24 February 2010

From Thepeninsulaqatar.com: Kuwait’s Gulf Bank, in which sovereign wealth fund Kuwait Investment Authority (KIA) owns a 16 percent stake, expects to make an operating profit in 2010 which will help absorb additional provisions, after it narrowed its losses in 2009.
Gulf Bank said yesterday it made a net loss of 28.07m dinars ($97.36m) in 2009, after booking 111m dinars against its credit portfolio………………………………….Full Article: Source

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