Kuwait's largest lender falls short of profit target
by This email address is being protected from spam bots, you need Javascript enabled to view it on Tuesday, 16 December 2008MISSED TARGET: The National Bank of Kuwait will not meet its profit target for 2008.
National Bank of Kuwait, the country's biggest lender by assets, said on Tuesday it will not be able to meet its 2008 profit target of 320-330 million Kuwaiti dinars ($1.17-1.20 billion).
"We will not post the 320-330 million dinars that we have been talking about in the past but for sure it will be above 300 million dinar," chief executive Ibrahim Dabdoub told Al Arabiya television.
Dabdoub said NBK's net profit for the first 11 months of 2008 amounted to 291 million dinars compared with 271 million dinars last year.
The lender posted a net profit of 273.6 million dinars in 2007. (Reuters)
READERS' COMMENTS
Disclaimer: The views expressed here by our readers are not necessarily shared by ArabianBusiness.com or its employees.
MORE FROM ARABIANBUSINESS.COM
TOP IN MIDDLE EAST BANKING & FINANCE
TOP MIDDLE EAST BUSINESS STORIES
ALSO IN MIDDLE EAST BANKING & FINANCE
LATEST MIDDLE EAST BUSINESS NEWS
- Culture & Society: 16,000 Kuwaitis changed last name for personal gain โ report
- Politics & Economics: Bahrain arrests minister for money laundering - report
- Politics & Economics: No change in Saudi's family visa rules - paper
- Financial Markets: Samba leads Saudi bourse up
- Construction & Industry: Dubai records $27.12m worth of pearl trade in 2009
SHARE PRICE CHECK
RELATED STORIES
National Bank of Kuwait (NBK)
- Kuwait's NBK gets nod for Syria branch - agency
4 Mar '10 | News - Kuwait's Boubyan share issue over 85% covered
10 Feb '10 | News - NBK reports 4% profit rise for 2009
1 Feb '10 | News





