NBK reports KD 116.6m net profit for Q1 – ARAB TIMES – KUWAIT NEWS – Arab Times Kuwait News
- Date: 20-Apr-2022
- Source: Arab Times Kuwait
- Sector:Financial Markets
- Country:Middle East
NBK reports KD 116.6m net profit for Q1 – ARAB TIMES – KUWAIT NEWS – Arab Times Kuwait News
TOTAL ASSETS GROW BY 8.7% TO KD 33.7 BILLION
KUWAIT CITY, April 19: National Bank of Kuwait (“NBK”, the “Bank” or the “Group”) has announced its financial results for the three-month period ended 31 March 2022. The Bank reported a net profit of KD 116.6 million (USD 383.6 million), compared to KD 84.3 million (USD 277.4 million) for 1Q 2021, improving by 38.3% year-on-year.
Total assets as of end of March 2022 grew by 8.7% year-on-year to reach KD 33.7 billion (USD 110.9 billion), whereas total loans and advances increased by 12.3% year-on-year to KD 20.1billion (USD 66.0 billion) and total shareholders’ equity reached KD 3.4 billion (USD 11.2 billion), growing by 3.5% year-on-year.
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