– Gulf Bank, seconda maggiore banca del Kuwait dopo la Banca centrale, ha perso $1,4 MD sui derivati;
– raddoppierà il proprio capitale per pareggiare le perdite.
Si è dimesso il suo presidente Bassam Ghanem, sostituito dal fratello Qutaiba al-Ghanem.
– Kuwait’s Gulf Bank announced on Monday that it lost a total of 375 million dinars ($1.4 billion) on derivatives deals. The bank, the country’s second biggest lender, also said it has decided to double its capital to raise an amount equal to the losses in order to restore shareholders’ equity to its level before the crisis. The board of directors will step down and their resignation will be effective after the capital increase is completed, the board said in a statement. Bassam al-Ghanem resigned as chairman and his brother Qutaiba al-Ghanem replaced him.
Kuwait’s central bank said last month Gulf Bank had incurred losses from derivatives deals which the bank carried out on behalf of clients who defaulted.
Gulf Bank shares remain suspended on the Kuwait Stock Exchange for the fourth week. – AFP