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Kuwaiti insurer saves market index from declining |
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Monday, 05 September 2011 07:42 |
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Kuwait: Losses in the banking sector index were offset by gains in the real estate and insurance segment in Kuwait, where the KSE Market Index added
0.15% to reach 5,852.8 points. While National Bank of Kuwait ended flat, Al Ahli Bank of Kuwait dived three percent, closing at KD0.640. Shares of Kuwait Insurance Co. surged 3.6%. National Bank of Abu Dhabi commented on the Kuwaiti banking sector today: "A recent IMF staff country report estimated non-performing loans at 8.9% of loans at the end of 2010 (down from 11.5% in 2009). Exposure to real estate and investment companies continue to be challenges that weigh on the banking sector and broader economic activity." [AMEInfo.com] Read more:
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