Kuwait – Mubasher: Al Ahli Bank of Kuwait (ABK) said its Q3 profits declined 46% year-on-year to KWD 4.75 million ($15.63 million) from KWD 8.79 million ($28.92 million), according to a bourse filing.
In the first nine months, the company earned KWD 19.8 million, higher 32.3% year-over-year from KWD 29.23 million.
The bank attributed lower Q3 profits to consistent operating profits with a 0.3 marginal growth, said the company, clarifying net profits decreased due to higher general provisions.
In the second quarter, the bank earned KWD 7.3 million.
The stock quote was placed at 315 fils with a 1.56% slide after trading 604,700 shares at KWD 187,600 on Monday.
