Kuwait's Gulf Bank booked provisions worth KD113m ($403.3m) in 2010 to meet losses arising from its credit portfolio, the bank's chief executive said in published remarks on Sunday.
The bank had set aside KD111m in 2009 to meet investment and loan losses.
"The percentage of irregular debts in the bank's portfolio went down to 14 percent compared with 24 percent in 2009, and I expect this percentage to continue improving during the year," Chief Executive Michel Accad said to the local newspaper Al Rai.
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