The banking sector in Kuwait did exceptionally well in 2007 thanks to a buoyant economy prodded forth by the rapidly growing oil wealth that is sweeping the region. In fact, it was not just last year, but the last few years that have been good for the small Gulf country. Between 2003 and 2006, the economy more than doubled and strong growth continues. Success begets success and the vast new wealth has spurred construction, resulting in a greater need for financing. This in turn has lead to a greater return in equity markets and corporate sector investments. It is thus no wonder bank profits have hit record levels across the board. Although foreign banks like Bank of Bahrain and Kuwait, Doha Bank and Qatar National Bank have opened their doors recently in the country (the latter two just this year), there has been no real struggle for market share as
