Mubasher: Al Ahli Bank of Kuwait (ABK) recorded a growth of 7.1% in profits during the fourth quarter of 2017 compared to the same period in the prior year.
Earnings increased to KWD 13.57 million ($45.35 million) in Q4-17 from KWD 12.67 million ($42.35 million) in Q4-16, according to a bourse statement on Tuesday.
During fiscal year 2017, ABK achieved a rise of 9.8% in profits to KWD 35.66 million compared to KWD 32.47 million in FY16.
The growth in profits is attributed to higher operating income from the bank’s basic business profile.
ABK’s board members recommended a cash dividend of 12% or 12 fils per share for FY17.
