Kuwait – Mubasher: Kuwait International Bank (KIB) reported a 37.1% year-on-year decline in its profits during the second quarter of 2017, according to a bourse statement.
Profits reached KWD 3.32 million ($10.94 million) in Q2-17, compared to KWD 5.28 million ($17.4 million) in Q2-16.
The bank generated KWD 10.92 million in the first half of 2017, down 8.9% from KWD 11.98 million in the prior-year period.
Operating revenues declined 2.4% to KWD 30.6 million in H1-17, compared to KWD 31.4 million in H1-16.
KIB’s stock rose 0.81% to 250 fils, with a turnover of KWD 216,670 generated from the exchange of 865,930 shares.
