Kuwait-Mubasher: Kuwait International Bank (KIB) showed a 16.2% increase in profits of the first quarter which stood at KWD 6.73 million ($22.3 million) as compared to KWD 5.79 million ($19.2 million) in the corresponding period of 2015.
The growth in Q1-16 earnings resulted from a rise by KWD 982,000 ($3.25 million) in financing income, according to a bourse statement.
KIB’s assets increased by 7% or KWD 116 million ($384.25 million) to KWD 1.78 billion ($5.9 billion) in Q1-16 as compared to KD 1.67 billion ($5.53billion) in Q1-15, said chairman Mohamed Al Sabah.
On KSE’s level, KIB ended Thursday’s session falling 2%to 196 fils, as 540,000 shares were traded through a value worth about 106,000.
