National Bank of Kuwait’s fourth-quarter profit surges on higher revenue – The National

National Bank of Kuwait’s fourth-quarter profit surges on higher revenue – The National

National Bank of Kuwait (NBK), the country's biggest lender by assets, reported a 38.3 per cent jump in its fourth-quarter profit on the back of an increase in operating revenue as economic conditions improved due to higher oil prices and a rapid vaccination campaign.

Net profit attributable to the owners of the parent company for the three months to the end of December surged to 107.4 million Kuwaiti dinars ($355.9m), the lender said in a statement to Boursa Kuwait, where its shares are traded.

Total operating revenue during the period rose 7.2 per cent a year to 225.2m dinars.