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National Bank of Kuwaits hits six month high

12 August 2010

The KSE market or price index ended off 0.12% at 6,676.2 points. Only the services sector index added value. Burgan Bank closed flat at KD0.355. The bank posted a net loss of KD8.73m for the second quarter 2010. EFG Hermes commented on the results: "This is in contrast to our expectations of a net profit of KD3m. While details are yet to be published, we suspect that high provisioning could have led to the loss in 2Q2010." The country's largest lender National Bank of Kuwait (NBK) extended its rally and closed 1.56% higher at a six month high of KD1.300.

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