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The aim of this study is to measure the financial performance of Kuwaiti banks over the period 2012 to 2017 using the modified DuPont system of financial analysis which is based on the analysis of return on equity model. The return on equity model disaggregates performance into three components: net profit margin, total asset turnover, and the equity multiplier. The banking sector is the largest sector in the Kuwait stock market, the market capitalization for the banking sector accounts for almost 50% of the total market capitalization. Results from this study showed that in terms of the original DuPont model that considers return on assets (ROA) as the ultimate goal of the model, National bank of Kuwait came at the top of Kuwaiti banks followed by Ahli United bank. But when it comes to the modified DuPont model, Ahli united bank was the best performer among Kuwaiti banks in terms of return on equity (ROE) followed by National bank of Kuwait. On the flipside, Warba bank was the worst performer among all Kuwaiti banks followed by AlAhli bank.