On Tuesday, July 10, the National Bank of Kuwait (NBK) announced a net income of $183 million for the first half of 2001, representing a 12.3 percent rise relative to the corresponding period of last year. The bank’s total assets reached $13.3 billion in the same period, reported AFP news agency.
Return on equity and return on assets for the Emirate’s largest bank rose to 27.2 percent and 2.75 percent respectively.
NBK was founded in 1952 by Kuwait's leading merchant families and became the first commercial bank in Kuwait. Profits for the year 2000 amounted to an astounding $300 million. — (MENA Report)
© 2001 Mena Report (www.menareport.com)
