Mubasher: Gulf Bank of Kuwait (GBK) achieved a growth of 6.7% in profits during the first quarter ended 31 March 2017, compared to the same period in 2016.
The bank’s earnings increased to KWD 9.36 million ($30.6 million) in Q1-17 from KWD 8.77 million ($28.7 million) in Q1-16, according to a bourse filing issued on Sunday.
The rise in Q1 profits is attributed to GBK’s higher revenue from interests and lower operating expenses.
GBK’s net operating profit rose by 6.8% to KWD 9.8 million in Q1-17 from KWD 9.18 million in Q1-16, the bank added.
