Boubyan Bank’s net profits increase to KD 48.5 million with an EPS of 13.57 fils

Boubyan Bank’s net profits increase to KD 48.5 million with an EPS of 13.57 fils

KUWAIT: Boubyan Bank has announced KD 48.5 million in net profits for the year 2021 with growth rate by 41 percent and an earnings per share of 13.57 fils along with a recommendation to distribute 5 percent in cash dividends and 5 percent in bonus shares. Moreover, the bank continued its prudential approach by allocating KD 50.8 million in provisions.

The bank’s Chairman, Abdulaziz Abdullah Al-Shaya commented: “Thanks to Almighty Allah, we built on our experiences over the past years to continue our outstanding results in 2021, and we aspire for more achievements in 2022 in light of many positive indicators for 2022 underpinning this.”

Al-Shaya stated that all of the Bank’s main indicators witnessed a remarkable growth in 2021 where the total combined assets of Boubyan Bank Group increased to KD 7.4 billion, growing 14 percent, and the operating profits increased to KD 100.5 million, growing by 8 percent compared with last year.

Moreover, the total of customers’ deposits grew by 10 percent to reach KD 5.6 billion, while the financing portfolio grew by 14 percent to reach KD 5.5 billion, and operating income grew by 12 percent to reach KD 188 million.

Speaking of the bank’s market shares, the bank’s share of