AlQabas reports that the Central Bank of Kuwait has approved Commercial Bank's 2009 financials. Net profit is reported as being KD154,000 after heavy (but unquantified) additions to provisions. The Bank reported net profit of KD100.7 million for 2008.
However, this year earnings have been "subdued" as the Bank has built provisions starting in the Second Quarter. At 30 September 2009, it reported a net loss of KD1.6 million. So this is not big news if you've been paying attention.
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