Kuwait’s NBK reports 8.5% increase in Q1 net profit
- Date: 20-Apr-2021
- Source: The National
- Sector:Financial Markets
- Country:Kuwait
Kuwait’s NBK reports 8.5% increase in Q1 net profit
National Bank of Kuwait (NBK), the biggest lender in the Gulf country by assets, reported a 8.5 per cent increase in its first-quarter profit.
Net profit for the three month period ending March 31 climbed to 84.3 million Kuwaiti dinars ($278.8m), the bank said in a statement on Tuesday, without providing a specific reason on why the profit rose during the period.
Total assets at the end of March grew 1.5 per cent annually to reach 31 billion dinars while total loans and advances increased 0.8 per cent annually to 17.9bn
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