VOL. XLI

No. 10

9-March-1998

KUWAIT

NBK Reelects Board But Expresses Concern For 1998

National Bank of Kuwait (NBK), the preeminent bank in Kuwait and one of the highestrated in the Middle East, held its annual general meeting on 14 February at which theboard was reelected and its annual report approved. The accounts detail the previouslyannounced 3% increase in net earnings to KD73.5mn ($241mn) and the cut in the cashdividend - the first such cut since the Iraqi invasion of Kuwait. At the time...