Mubasher: Burgan Bank recorded a surge of 884.3% in profits during the fourth quarter of 2016 as compared to the same period a year ago.
Earnings amounted to KWD 19.39 million ($63.3 million) in Q4-16 from KWD 1.97 million ($6.4 million) in Q4-15, according to a recent statement issued on Thursday.
During the fiscal year of 2016, profits increased by 11.5% to KWD 68 million from KWD 61 million in the previous fiscal year.
Earnings per share grew 12% to 28 fils in FY16 from 25 fils in FY15.
Board member recommended a cash dividend of 5% or 5 fils per share as well as 5% bonus shares, the statement noted.
On the stock level, Burgan retreated by 1.56% to end Thursday’s session at 315 fils, after 2.01 million shares were traded at a value of nearly KWD 636,500.
