Bad loans and write offs are the the result of years on un-diversified allocations to a single sector in un-diversified economy. basically oil income becomes the fuel for a regional real estate boom with the investment companies taking the blame. The banks' management and board should burden a lot of the blame as well. Especially in Kuwait, where banks' EPS used to grow @ 30% and no one was asking how did that happen!!
http://zawya.com/Story.cfm/sidZAWYA20100828035551
http://zawya.com/Story.cfm/sidZAWYA20100828035551
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