403
Sorry!!
Error! We're sorry, but the page you were looking for doesn't exist.
Gulf Bank likely to suffer USD9.2m losses
(MENAFN) Gulf Bank, one of the largest banks in Kuwait, is expected to register USD9.2 million of losses after being hit with a technical problem on Saturday.
Services in the Kuwaiti bank were interrupted due to the issue, causing a negative effective to foreign transfers.
"Based on our current assessment, this service disruption may result in a maximum potential loss to the bank of 2.8 million dinars," the bank stated.
"To give all our stakeholders comfort, this amounts to only 0.4 percent of our capital," it further affirmed.
Services in the Kuwaiti bank were interrupted due to the issue, causing a negative effective to foreign transfers.
"Based on our current assessment, this service disruption may result in a maximum potential loss to the bank of 2.8 million dinars," the bank stated.
"To give all our stakeholders comfort, this amounts to only 0.4 percent of our capital," it further affirmed.
Legal Disclaimer:
MENAFN provides the
information “as is” without warranty of any kind. We do not accept any
responsibility or liability for the accuracy, content, images, videos,
licenses, completeness, legality, or reliability of the information
contained in this article. If you have any complaints or copyright issues
related to this article, kindly contact the provider above.
Comments
No comment