Mubasher: Warba Bank achieved an increase of 52% in profits during the third quarter of 2018 compared to the same period a year ago.
Earnings grew to KWD 3.48 million ($11.48 million) in Q3-18 from KWD 2.29 million ($7.55 million) in Q3-17, according to a bourse disclosure on Monday.
During the first nine months of 2018, Warba Bank recorded a surge of 76.1% in profits to KWD 8.68 million compared to KWD 4.93 million in the same period a year ago.
The increase of 9M profits is attributed to a growth of 19% in the finance portfolio, and 28% in the investment portfolio.
During the nine-month period, Warba Bank achieved a rise of 57% in operating income to KWD 21.86 million from KWD 13.93 million in the corresponding period last year.
At the stock level, Warba Bank closed Monday’s session 0.44% higher at 226 fils.
