Kuwait's unexpected 50 basis-point interest rate cut will help reduce borrowing costs for businesses but is not going to be enough to kick-start bank lending without a lasting solution to the country's political crisis.
Commercial Bank of Kuwait (CBK), the country's fourth-largest lender, reported a 75-percent drop in first-quarter net profit on Thursday.
Net profit was 329,000 Kuwaiti dinars ($1.19 million) in the first three months of the year, c
Commercial Bank of Kuwait (CBK) made a net profit of KD810,000 ($2.92 million) in 2011, down from KD40.5 million in the prior year period, according to a company statement.
The board recommended that no dividend be paid out for 2011, said
Commercial Bank of Kuwait (CBK) posted a 65 percent fall in its third-quarter net profit, after booking provisions against loan and investment portfolios, it said on Wednesday, but the results came in better than analysts forecasts.
Commercial Bank of Kuwait (CBK) reported a 91 per cent drop in the second-quarter net profit on Wednesday.
Net profit in the three months to June 30 was KD198,000 ($724,478), compared to KD2.3 million in the same period last year, the lend
Commercial Bank of Kuwait’s (CBK) has posted a net profit of KD20 million ($71.53m) for the fourth quarter of 2010, up from KD1.85 million for the same period in the previous year.
Analysts had forecast the lender to post a net profit of K
Commercial Bank of Kuwait (CBK) is expected to post a "very slight profit" in the first quarter of 2010, its chairman said on Sunday.
The country's third largest lender will continue with its conservative approach in 2010, but expects see
Commercial Bank of Kuwait said on Sunday that all its board members resigned last week but it did not give a reason for their departure.
The board resigned on January 12, and elections for a new board will start on January 17
Commercial Bank of Kuwait (CBK) made a third-quarter net loss of 1.6 million dinars ($5.60 million) on provisions against bad loans and investments.
The results came well below a forecast by Coast Investment which had predicted a net profi
The Commercial Bank of Kuwait has started restructuring its investment unit in a strategy shift focusing on investments at home instead of abroad, the firm said.
CBK Capital's chairman Fowzi Al-Ateeqi said in a statement that the group, wh