Kuwait-Mubasher: Kuwait International Bank (KIB) reported a growth of 12.9% year-on-year in profits achieved in the second quarter of 2016.
KIB’s earnings increased to KWD 5.25 million ($17.35 million) in Q2-16 from KWD 4.65 million ($15.37 million) in Q2-15, according to a bourse statement issued Monday.
During the first half of 2016, the bank’s profits reached KWD 11.98 million as compared to KWD 10.44 million in the same period of 2015; an annual growth of 14.8%.
KIB clarified that the rise in profits resulted from an 11% increase in net revenues that reached KWD 2.31 million.
