The country was one of the donor states to freeze around $450 million in funds after Israel accused 12 UNRWA staff of participating in the Hamas-led attack
world5 hours ago
Net income fell to KD5.4 million ($19 million), or two fils a share, from KD8.5 million, or three fils per share, a year earlier, the bank said in a statement to the Kuwait Stock Exchange on Monday.
“The bank further increased the precautionary reserve by KD34 million to reach KD124 million, in line with its strategic plan to create a ‘fortress balance sheet’,” it said.
Gulf Bank is delivering “good results, despite the difficult economic conditions,” chairman Mahmoud Al Nouri said in the statement.
The country was one of the donor states to freeze around $450 million in funds after Israel accused 12 UNRWA staff of participating in the Hamas-led attack
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