Commercial Bank of Kuwait's losses exceeded 2.8% in the fourth quarter of 2020, to reach 17.1 million dinars ($ 56.5 million).
According to Arabnet in a statement to the bank, these losses came higher than analysts' expectations, which indicated losses of 6.3 million dinars. The bank announced that it had not achieved any profits in 2020 for the second year in a row.
Analysts forecast annual profits of 17.5 million dinars.
The Board of Directors of the Commercial Bank of Kuwait suggested distributing treasury shares as free bonus shares to shareholders at a rate of 3% of the outstanding shares, without this resulting in a capital increase or an increase In the number of issued shares, indicating that this proposal is subject to the general approval of the bank.
