Mubasher: Gulf Bank of Kuwait (GBK) announced reported a 15.5% year-on-year increase in its profits for the first quarter of 2018.
The lender's net profits amounted to KWD 10.81 million ($35.92 million) in the three-month period ended March 2018, compared to KWD 9.36 million ($31.1 million) in Q1-17, according to the bank’s filing to Boursa Kuwait.
The bank attributed the increase in profits to a growth in net interests.
For the full-year 2017, GBK’s profits went up 11.8% to KWD 48.02 million, from KWD 42.94 million a year earlier.
By the end of Monday’s session, GBK’s stock levelled up 0.76% at 266 fils.
