Kuwait – Mubasher: Warba Bank posted a 860.6% year-on-year rise in its profits during the second quarter of 2017, according to a bourse statement.
Profits reached KWD 1.22 million ($4.02 million) in Q2-17, compared to KWD 127,000 ($418,480) in Q2-16.
In the first half of 2017, profits reached KWD 2.52 million as compared to KWD 455,000 in H1-16.
The bank’s positive results are mainly attributed to a rise in financing portfolio by 68%.
The bank’s stock rose 0.76% to 265 fils on Monday, generating KWD 421,590 from the exchange of 1.59 million shares.
