The Arab-SPanish Bank (ARISBANK) posted losses in the first six months of this year amounting to $16.6 million, rising by 40 percent compared to the losses incurred in the same period of last year, reported the official Kuwaiti news agency, KUNA, on Sunday.
The bank has not been able to shore up its position since a setback early this year, when the Arab shareholders pumped $6 million into its coffers to avert a collapse, said the agency.
The bank, established in 1976 to promote economic exchanges between the Arab states and Spain, is owned by Kuwaiti, Libyan and Algerian banks.
Spanish nationals and banks own some of the shares – Albawaba.com
