Kuwait – Mubasher: Ahli United Bank – Kuwait (AUB Kuwait) reported on Wednesday a year-on-year rise of 2.6% in net profit for the first quarter of fiscal year 2017.
Net profits reached KWD 16.003 million ($52.4 million) in Q1-17, compared to KWD 15.59 million ($51.04 million) for Q1-16, according to a statement to the bourse.
The bank attributed the rise in Q1 profits to achieving an operating profit worth KWD 19.67 million.
By 10:15 am Kuwait time, the stock fell 1.19% to 415 fils.
