Kuwait – Mubasher: The National Bank of Kuwait (NBK) said total exposure in Qatar for more than one year reached KWD 227 million, representing 0.9% of the total assets.
More than half of that amount stands for low risk sovereign exposures with government entities and Qatari banks, while the remaining value is of other credit and investment exposures, according to a filing to Boursa Kuwait.
The bank’s exposure is not covering the assets in the firm's account, and the risk increases when the amount grows.
The Boursa-Kuwait listed bank’s profits went up 8.1 to reach KWD 85.36 million in the first quarter of 2017, compared to KWD 78.94 million in Q1-16.
NBK’s stock closed Wednesday in the green zone at 698 fils, after edging up 0.29%, with a trading volume of 2.12 million shares that generated KWD 1.47 million.
