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EARNINGS

ROUNDUP : Modest Gain for Great Western

February 08, 1991|From Times Staff and Wire Reports

Great Western Financial, the Beverly Hills-based parent of Great Western Bank earned a slim, $3.7-million profit in the fourth quarter despite a pretax reduction in earnings of $165 million for real estate loan writedowns and a provision for possible loan losses. Those moves were offset by a tax credit of $38.4 million and a 22% rise in net interest income. The quarterly profit contrasted with a $77.3-million loss a year earlier. For 1990, Great Western earned $193 million, compared to $100 million in 1989.

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