KuwaitAEs Gulf Bank posts 1.24 bln dlrs in loss.
In 2007, Gulf Bank, the second biggest lender in Kuwait, posted a net profit of 130.4 million dinars (450 million dollars).
But in October, the bank announced losses of 375 million dinars (1.3 billion dollars) when a number of its clients defaulted .
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|Publication:||Khaleej Times (Dubai, United Arab Emirates)|
|Article Type:||Financial report|
|Date:||Mar 23, 2009|
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