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Top Kuwaiti Bank Sees Growth as Country Spends as Much as It Can

  • National Bank of Kuwait sees government spend driving growth
  • CEO Isam Al Sager sees banking sector growth of 7% this year
Kuwait skyline
Photographer: Yasser al-Zayyat/AFP via Getty Images

Kuwait’s biggest bank sees growth in the industry quickening this year as the government boosts spending to counter the effects of oil’s slump and a lack of investment during the past decade.

The banking sector will expand by about 7 percent this year, with National Bank of Kuwait SAK growing by mid-to-high single digits, Isam Al Sager, group chief executive officer, said last week in Kuwait City, the capital.