Kuwait - Mubasher: The ordinary general meeting of Kuwait International Bank (KIB) approved on Saturday the distribution of cash dividends at 10 fils per share, representing 10% of capital.
The meeting also approved the annual budget and financial statements for last year, as well as the board and auditor’s reports.
Kuwait International Bank (KIB) achieved a growth of 11.1% in profits during the fourth quarter of 2016 as compared to the same period the year before.
Earnings increased to KWD 4.72 million ($15.46 million) in Q4-16 from KWD 4.25 million ($13.91 million) in Q4-15.
During the fiscal year of 2016, KIB posted a rise of 13.8% in profits to total KWD 18.2 million from KWD 16 million in FY15.
