and therefor has not been affected by the factors that hampered other banks financials

the Central Bank has place strict rules for banks to abide by and coerced harsh provisions on assets it believes to be doubtful to receive… it seems not alot of NBK’s assets have been effects by this which might indicate the bank may have effectively diversified their lendings into the correct sectors.

Bear in mind it was reported that NBK has high exposure to Al-Kharafi Group and although the group was successful in supporting their companies throughout this ordeal one cannot help but be concerned on how the group would perform if the Zain Deal did not go through or the companys does not perform as it did during Dr Saad’s time!

Zain and Agility were doomed even during 2008 – and agility in particular was a bad story even since 2006-2007.

Zain is only one issue in Kuwait amongst many others, keeping in mind the performance of Zain directly affects many other organizations in the market.

in a nutshell:
KFH: in bad condition
Agility: Fate held in the hands of a Foreign Judge
Zain: Deal or no Deal Dilemma

these by themselves contribute to around a quarter of the Kuwaiti Market Cap, and the rest are highly correlated to them…

Zain’s issue will still be a concern as the price volatility and the lack of disclosure might hinder the inflow of any new money.

Thanks