09 Apr 2013
(MENAFN) Kuwait’s Global Investment House announced that it incurred a USD192.8 million loss in 2012, due to a decline in shareholders’ equity, reported Gulf Daily News.
Global said that 2012 was the fourth consecutive year in which the company posts a loss, noting that at the end of the year, total shareholders’ equity was a negative USD122.32 million, from a positive USD62.90 million in 2011.
The company, which is one of the largest investment houses in the tiny Gulf emirate, has agreed with its creditors to restructure USD1.7 billion of debt.
In December 2012, the firm announced that as part of its restructuring, it planned to establish 2 special purpose vehicles, of which one would hold company assets in addition to debt worth USD1.3 billion.
It is worth noting that in 2011, Global Investment posted a loss of USD200.95 million.
20 Jul 2025
CBB approves the transfer of the retail banking operations of HSBC Bank Middle East, Bahrain Branch to BBK
02 Jul 2025
BBK launches the largest-ever Al Hayrat Prizes, offering BD 5 million to over 2,000 winners
12 May 2025
Alsharifi: “Proud of our strategic partnership with the Royal Humanitarian Foundation”
04 May 2025
BBK offers exclusive Mortgage Loans for luxury villas and apartments on Reef Island
30 Apr 2025
BBK discloses its financial results for the first quarter ended 31st March 2025
25 Mar 2025
BBK’s General Assembly Approves 35% Cash Dividend Distribution to Shareholders
This website uses cookies to ensure you get the best experience and by clicking “I Accept” below, you consent to the use of cookies. Learn more