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DUBAI, Aug 2 (Reuters) - Burgan Bank, Kuwait's third-largest lender by assets, reported a 14 percent fall in second-quarter net profit on Tuesday.
A unit of Kuwait Projects Co (KIPCO), Burgan made a net profit of 17.1 million dinars ($56.7 million) in the three months to the end of June, compared to 19.9 million dinars in the same period a year earlier, it said in a bourse filing.
EFG Hermes forecast the bank would make a quarterly net profit of 14.7 million dinars, with HSBC expecting earnings of 14 million dinars.
One reason for the profit fall was a slide in net interest income, which sank to 37.6 million dinars in the quarter, compared to 41.1 million dinars in the year earlier period.
($1 = 0.3014 Kuwaiti dinars)
(Reporting by Tom Arnold; Editing by David French) ((Tom.Arnold@thomsonreuters.com; +97144536265; Reuters Messaging: tom.arnold.thomsonreuters.com@reuters.net))
A unit of Kuwait Projects Co (KIPCO), Burgan made a net profit of 17.1 million dinars ($56.7 million) in the three months to the end of June, compared to 19.9 million dinars in the same period a year earlier, it said in a bourse filing.
EFG Hermes forecast the bank would make a quarterly net profit of 14.7 million dinars, with HSBC expecting earnings of 14 million dinars.
One reason for the profit fall was a slide in net interest income, which sank to 37.6 million dinars in the quarter, compared to 41.1 million dinars in the year earlier period.
($1 = 0.3014 Kuwaiti dinars)
(Reporting by Tom Arnold; Editing by David French) ((Tom.Arnold@thomsonreuters.com; +97144536265; Reuters Messaging: tom.arnold.thomsonreuters.com@reuters.net))
