The second agreement is valued at KWD
60m, and it will finance the project of generating electricity in Damanhour power plant.
Kollross said KWD
is hoping to make items from recycled Styrofoam as soon as next year.
"Non-bank financials saw an increase in borrowing, with credit gaining by KWD
The Kuwaiti fund has previously financed the reclamation of 400,000 acres of land in Sinai with a total value of KWD
45m and the steam electricity station in Sidi Kerir with KWD
Total assets as of end of March 2015 reached $77.7 billion (KWD
23.3 billion) up 13.8 per cent compared to March 2014, while total shareholders' equity increased by 5.3 per cent to $8.7 billion (KWD
Credit to the sector was down by another KWD
20 million in January, bringing the year-on-year decline to 12.8 per cent.
Household borrowing maintained its strong growth in August, gaining KWD
105 million on the month.
In a statement to the Kuwait Stock Exchange, Gulf Bank reported net profit for Q1 2013 of KWD
7.935 million, up from KWD
7.37 million a year earlier.
Net income dropped to KWD
20.1 million from KWD
22.6 million for the same period last year, when the bank reported a 26 per cent drop in profits from the same period in 2010.