Mubasher: Kuwait International Bank (KIB) achieved an increase of 28.2% in profits during the second quarter of 2018 compared to the same period in the previous year.
Earnings grew to KWD 4.27 million ($14.13 million) in Q2-18 from KWD 3.33 million ($11.02 million) in Q2-17, according to a bourse statement on Monday.
During the first six months of 2018, KIB’s profits rose by 9.6% to KWD 11.97 million, compared to KWD 10.92 million in H1-17.
The incline of H1 profits is attributed to higher financing income in line with a partial rise in operating expenses and provisions, in addition to losses in lower value.
