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Gulf Bank reports $20.4m Q2 loss

by This email address is being protected from spam bots, you need Javascript enabled to view it  on Sunday, 02 August 2009
Q2 RESULTS: Net loss in the first half to June 30 came in at KD7.5m, Gulf Bank said. (Getty Images)
Q2 RESULTS: Net loss in the first half to June 30 came in at KD7.5m, Gulf Bank said. (Getty Images)

Kuwait's Gulf Bank made a net loss of KD5.9m ($20.54m) in the second quarter.

Net loss in the first half to June 30 came in at KD7.5m, Gulf Bank said in a statement, without giving quarterly figures.

The bank said it booked provisions of KD58.6m in the first half of the year.

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Reuters calculated the second quarter net loss based on previous financial data which showed the bank posting KD1.6m of net profit in the first quarter of 2009.

Gulf Bank made KD23.8m net profit in the second quarter a year ago. (Reuters)

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