Kuwait – Mubasher: The financial statements of Kuwait International Bank (KIB) reported a growth of 13.6% in profits during the third quarter of 2016 as compared to the same period of 2015.
Earnings increased to KWD 1.5 million ($4.95 million) in Q3-16 from KWD 1.32 million ($4.36 million) in Q3-15, according to a bourse statement issued Thursday.
KIB’s profits stood at KWD 13.48 million in the nine-month period of 2016, 13.5% higher from KWD 11.75 million in the same period a year ago.
Net finance revenue grew KWD 4.49 million, backing the financial statements of the bank.
Investment revenues decreased KWD 2.84 million in the first nine months of 2016, the statement added.
On the stock level, KIB gained 1.09% to end Thursday’s session at 186 fils after nearly 24,400 shares were traded at a value of about KWD 4,500.
