Kuwait's Burgan Bank (BURG.KW), made a loss of 8.73 million dinars ($30.43 million) in the second quarter, after booking provisions against high-risk loans, having made a profit in the same period a year ago.
Burgan, the commercial banking arm of Kuwait Projects Co (KIPCO) (KPRO.KW), Kuwait's biggest investment company by assets, said in a statement on Wednesday its outlook for the rest of the year was positive.
The bank made a profit of 760,000 dinars in the same period last year."
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