Kuwaiti banks net profits up 62% in 2010

13 Apr 2011

(MENAFN) The Governor of the Central Bank of Kuwait, Sheikh Salem AbdulAziz Al-Sabah, said that Kuwaiti banks had net profits in 2010 totaling to USD2.1 billion, thus registering a 62 percent year-on-year hike in profits, reported Arabian Business.

Sheikh Salem said that the hike in profits was due to supporting measures that were taken by Kuwait and the central bank.

He added that local banks had managed to overcome the impacts of the global financial crisis and continued making gains.

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