Kuwait-Mubasher: The National Bank of Kuwait (NBK) has continued to deliver solid growth in 2015, with net profits reaching KWD 282.2 million in 2015, posting 7.8% year-on-year growth, said chairman Nasser Al-Sayer.
During 2015, NBK’s net operating income grew 10.2% year-on-year to KWD 728.8 million confirming the bank’s strong domestic and regional market positions, Al-Sayer clarified according to NBK’s statement.
“NBK continued to improve its asset quality ratios with NPL/Gross Loans ratio dropping to 1.34% as of year-end 2015 down from 1.50% a year earlier, and NPL coverage ratio increasing to 322%, up from 276% at year-end 2014,” according to NBK’s statement.
The bank generated 27% of the year’s profits from its branches, associates, and subsidiaries outside Kuwait affirming the banks’ successful strategy of regional and international diversification, added the chairman.
