Mubasher: The National Bank of Kuwait (NBK) reported a 15.1% year-on-year rise in profits during the first quarter of 2019.
NBK profits amounted to KWD 107.73 million ($354.6 million) in Q1-19, compared to KWD 93.59 million ($309.2 million) during Q1-18, according to a statement to Boursa Kuwait on Sunday.
The Kuwaiti lender attributed the rise in earnings to a growth in interest revenues, whereas provision costs declined.
During 2018, NBK reported a 15% increase in profits to KWD 370.71 million, from KWD 322.36 million in 2017.
In March, the NBK’s ordinary general meeting (OGM) approved the board’s proposal to pay 35 fils per share in cash dividends for the full fiscal year 2018.
