VOL. XLVI

No 29

21-July-2003

BANK RESULTS

NBK Profits Climb 3.7% In First Half

National Bank of Kuwait (NBK), the largest financial institution in Kuwait, reported a net profit of $195mn for the first half of this year compared to $188mn for the same period in 2002. This puts NBKs return on equity at 26.7% and the return on assets at 2.2%, the bank said. Our first half results are quite encouraging, considering the low interest rate environment we have been experiencing for over two years. We have...