Global Investment House, Kuwait’s biggest investment bank, posted a KD360.5m ($1.36bn) loss in the fourth-quarter mainly due to impairment charges for investments and loans.
It made a full-year net loss of KD257.6m in 2008 compared to a profit of KD91.4m a year earlier, Global said in a statement on Sunday.
Reuters calculated fourth-quarter loss based on previous financial data which showed net profit in the first nine months of KD102.9m.
The figure compares to fourth-quarter profit of KD29.47m in the same period in 2007, according to Reuters data. (Reuters)
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