VOL. XLII

No. 27

5-July-1999

KUWAIT

Kuwaits Banks Show Signs Of Strain As 1998 Profits Fall

Avoiding the temptation to allay concerns about 1998 profitdeclines, many of Kuwaits banks have chosen instead to focus attention ontheir improved underlying strength and their commitment to "maximizingcustomer satisfaction and shareholder value." Four out of the nine banksincluded in this survey recorded a decline in profits for 1998 (which averaged27%), but most reassured both clients and shareholders...