10 Kuwait-listed banks profits level up 9.4% in Q2-19

Kuwait - A group of 10 Boursa Kuwait-listed bank grew by 9.4% year-on-year to KWD 247.74 million ($816.13 million) in the second quarter of 2019.

On the top, the National Bank of Kuwait (NBK) recorded a growth of 9.9% in profits to KWD 101.36 million compared to KWD 92.27 million in the corresponding period a year earlier.

Warba Bank reported a 17.5% year-on-year increase in its profit for the second quarter of 2019, registering KWD 2.68 million.

KIB achieved a profit of KWD 3.39 million ($11.17 million) during the second quarter of 2019, 20.6% lower than KWD 4.27 million ($14.07 million) registered in the corresponding period a year ago.

In the first six months of 2019, the 10 Kuwaiti banks rose by 8.4% to KWD 493.61 million, compared to KWD 455.38 million a year earlier.

NBK’s profit grew to KWD 209 million in H1-19, while the profits of Warba and KIB reached KWD 6.5 million and KWD 9.81 million, respectively.

Translated by: Muhammad Abdul-Wakeel