VOL. XLV

No 33

19-August-2002

KUWAIT

Kuwait Banks Maintain Strong PerformanceThrough 2001

WhileKuwaiti banks have the advantage of remaining protected, for now, from foreigncompetition, their ability to deliver a sound performance in 2001 despite atough operating environment is impressive. They suffered not only a decline ininterest rates through the year, but were also hit by shaken consumerconfidence and falling oil prices (the mainstay of the Kuwaiti economy) afterthe 11 September attacks on...