Global Investment House posts $1.36bn Q4 loss


Gulf Investment House Co. - GIH
63 0.00 0.00%
26/04/2009 00:00 AST  Reuters
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Global Investment House, Kuwaits biggest investment bank, posted a KD360.5 million ($1.36 billion) loss in the fourth-quarter mainly due to impairment charges for investments and loans.

It made a full-year net loss of KD257.6 million in 2008 compared to a profit of KD91.4 million a year earlier, Global said in a statement on Sunday.

Reuters calculated fourth-quarter loss based on previous financial data which showed net profit in the first nine months of KD102.9 million. The figure compares to fourth-quarter profit of KD29.47 million in the same period in 2007, according to Reuters data.-

Profile: Gulf Investment House Co. (GIH)
Gulf Investment House Co. - GIH
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