Mubasher: The Commercial Bank of Kuwait (CBK) announced that its ordinary general meeting (OGM) approved shareholders’ recommendation regarding default loans and cash dividends.
The shareholders, who own above 5% of capital, proposed not issuing any final budget concluding default loans; this means that the non-performing loans (NPLs) amount will be zero, according to a bourse disclosure on Thursday.
CBK added that the second recommendation was that in case of not distributing 20 fils or more per share to the shareholders, the entire realised profits should be transferred as future loan reserves.
