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Islamic Finance Briefing - Categorized | Banking, Performance more

Gulf Bank eyes good profit

Posted on 22 March 2010

From Kuwaittimes.net: The Gulf Bank hosted its annual general assembly and announced that the bank is expected to turn a good profit this year. Board Director, Ali Rasheed Al-Badr, announced that the bank’s provision policy will consume the profits of the first half and possibly the third quarter of 2010 as well.

Al-Badr pointed out that the current board policy is based on strengthening the bank’s financial position by locking operating profits to secure the bank’s needs against any possible dangers. He said that this can be achieved relatively quickly if the economic situation recovers without any surprises from customers………………………………….Full Article: Source

 
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