Government spending is likely to drive loan growth in Kuwait, but valuations already seem to reflect the strong outlook, said Goldman Sachs, starting coverage of four Kuwaiti banks.
Kuwaiti banks have outperformed GCC peers over the last year due to positive sentiment on the implementation of the development spending plan, Goldman said.
Media reports suggest that half of the project — a four-year, 30 billion-dinar plan aimed at diversifying the crude-reliant economy and increasing the role of the private sector — will be financed by banks, Goldman said.
No comments:
Post a Comment