Kuwait's NBK has $10 mln exposure to Saudi groups

KUWAIT, July 14 (Reuters) - National Bank of Kuwait (NBKK.KW) has minimal exposure to troubled Saudi Arabian conglomerates Saad [SAADG.UL] and Algosaibi, and expects to meet its 2009 profit goal, its chief executive said on Tuesday.

"Our exposure as a group is only 2.8 million dinars ($9.73 million) and we have taken provisions for this...It's a part of a syndicated loans," Ibrahim Dabdoub told Al Arabiya television.

Dabdoub said he still hoped NBK would meet its 2009 net profit goal of 255 million dinars and sees better results in the second half of the year.

The country's largest bank posted a 32.7 percent fall in second-quarter net profit mainly on provisions and a fall in the value of investments. [ID:nWEA0727] (Reporting by Rania El Gamal; Editing by Sue Thomas)