Kuwaiti banks scores profits

The National Bank of Kuwait has announced it achieved net profits during the first nine months of this year estimated at US $225, representing a profit increase rate of 13% over the figures of the same period for 1998.

The bank's chairman, Mohamed Abdul Rahman Al Bahar, said in a press statement in Kuwait on Tuesday that the various services offered by the bank had converted it into a "banking supermarket" that meets the requirements and needs of its clients.

He commented, "This is one of the main reasons for achieving the profits despite the state of economic recession, locally and internationally."