The Kuwait banking sector has clawed its way back from its nadir in 2008/2009 when the sector was beset with problems, led by the massive loss at Gulf Bank, and rising non-performing loans and other assets throughout the sector. Losses and defaults at investment houses, and the substantial decline in the domestic stock exchange, added to the malaise.
Since then, most Kuwaiti banks have strengthened their financial positions but the high level of non-performing loans on banks’ balance sheets remains a drag on earnings and performance.
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