Kuwait's Gulf Bank Reports Second-Quarter Profit After Sale of Investments - Bloomberg: "Gulf Bank KSC reported a second- quarter profit after a loss in the year-earlier period as the Kuwaiti lender sold part of its international investment assets.
Net income was 1.5 million dinars ($5 million), according to Bloomberg calculations based on the six-month profit of 2 million dinars provided by the bank in an e-mailed statement today. Gulf Bank reported a loss of 9.1 million dinars in the second quarter of last year, according to Bloomberg data.
“The bank’s provisional requirements up to end of June have been provided for,” Chairman Ali Al-Rashaid Al-Bader said in the statement. “We hope the forthcoming periods will witness an improvement in the net profit, which is, in part, dependent on the economic situation.”"
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