Kuwait-Mubasher: Warba Bank’s profits retreated by 46.6% in the second quarter of 2016 as compared to the same period in 2015.
Earnings decreased to about KWD 127,000 ($419,600) in Q2-16 from KWD 238,000 ($786,300) in Q2-15, according to a bourse statement issued on Sunday.
During the first half of 2016, Warba reported a growth of 44.4% to KWD 455,000 versus KWD 315,000 in H1-15.
The increase in H1 profits resulted from a rise in deposits and finance revenues by KWD 4.71 million generated from a 48% growth in the finance portfolio registered on 30 June, 2016 as compared to the same period in 2015, according to the statement.
