Kuwait's CBK Q1 profit drops 75pc
Kuwait, May 10, 2012
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, compared with 1.33 million dinars in the same period of 2011, according to a bourse filing.
Trading in the bank's shares was halted at the beginning of April along with those of several other companies that had been unable to report previous earnings on time. The bank appointed a new chairman and chief executive last month. - Reuters