Mubasher: Al Ahli Bank of Kuwait (ABK) on Monday reported an 18% year-on-year rise in its net profits during the first quarter of 2018.
ABK’s profits amounted to KWD 10.04 million ($33.36 million) in the three-month period ended March 2018, compared to KWD 8.51 million ($28.28 million) during Q1-17, according to a statement to Boursa Kuwait.
The Kuwait-based lender attributed the rise of the first-quarter profits to a growth in operating revenues of basic activities, coupled with a decrease in provisions.
ABK’s stock inched up 0.61% to close Monday’s trading session at 330 fils after 1,020 shares were exchanged, with a trading value of KWD 321.6.
