Kuwait – Mubasher: The Commercial Bank of Kuwait (CBK) reported a drop of 89.8% in profits to nearly KWD 795,000 ($2.61 million) in the first quarter this year from KWD 7.77 million ($25.47 million) in the same period of 2016.
The plunge in Q1 profits is attributed to lower net profit from foreign currency exchange, according to a bourse statement issued on Wednesday.
Boursa Kuwait has resumed trading on CBK’s stock following the announcement of its quarterly financials.
