NBK-Bahrain reports net profits of BHD 122.14 million for 2022

NBK-Bahrain reports net profits of BHD 122.14 million for 2022

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KUWAIT: National Bank of Kuwait-Bahrain (NBK Bahrain) reported net profits of BHD 122.14 million (KD 99.39 million) for the year 2022, compared to BHD 117.68 million (KD 94.57 million) for the year 2021. As of end of 2022, NBK-Bahrain’s total assets stood at BHD 7.24 billion (KD 5.89 billion) compared with BHD 7.43 billion (KD 5.97 billion) in 2021. Total shareholders’ equity increased by 12% y-o-y to BHD 1.087 billion (KD 884 million), whereas customers deposits increased by 23% y-o-y to BHD 3.39 billion (KD 2.76 billion) by end of December 2022.

Commenting on NBK Bahrain’s year-end financial results, Isam Al-Sager, NBK Group Vice Chairman and CEO said, “National Bank of Kuwait – Bahrain realized good profits for 2022, despite the challenging operating environment including escalating global geopolitical tensions and soaring inflation rates worldwide, and their impact on markets’ performance.” “Our international operations are key contributors to the Group’s profits, which proves our resilient business model, and at the same time, the success of our regional expansion strategy in