NBK 2002 Net Profit Climbs 3.8% to $355Mn
National Bank of Kuwait (NBK), the largest financial institution in Kuwait, reported a net profit of $355mn for 2002, up 3.8% from $342mn in the previous year. This puts NBKs 2002 return on equity at 24.2% and the return on assets at 2.0%. The bank, which has a market value of $5.2bn, said that by the end of 2002 first tier equity reached $1.5bn and assets grew to $17.6bn. NBKs CEO, Ibrahim Dabdoub, attributed the...