Kuwait banking sector: 2015-2016 more difficult for banks in Kuwait
Elham Yousry Mahfouz, CEO of Commercial Bank of Kuwait talks about the banking sector in Kuwait.
Elham Yousry Mahfouz, CEO of Commercial Bank of Kuwait talks about the banking sector in Kuwait.
She says, “All Kuwaiti banks have made a听profit. Not all the banks have distributed the profits in cash, but more in bonus shares. It is a听return for the shareholders, but not a听cash return. I鈥檓 not sure how profitability will differ from one bank to another. It will be a听tough year. Perhaps banks need to change some of their strategic thinking. They might postpone some plans. Or they might go aggressively with a听certain line of business that they feel suitable for the market conditions now. It depends on the bank in question. In our bank, we are being very watchful of the situation. We are also watching how the government proceeds with their initiatives and projects.”
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