Mubasher: The National Bank of Kuwait (NBK) achieved a growth of 8.1% in profits during the first quarter of 2017 as compared to the same period of 2016.
The bank’s earnings stood at KWD 85.36 million ($279.67 million) in Q1-17, compared with KWD 78.94 million ($258.63 million) in Q1-16, according to a bourse statement issued on Sunday.
NBK’s net operating profit increased by 11% to total KWD 133.87 million in Q1-17 from KWD 120.59 million in Q1-16.
The increase in profits is attributed to a higher interest rate and revenues from Islamic financing, as well as strong business growth.
