By: Mohamad Farouk
Mubasher: Ahli United Bank – Kuwait (AUB Kuwait) is expected to achieve KWD 42 million profits in the fiscal year 2017 compared to KWD 40 million in 2016, registering a year-on-year growth of 5%, capital market analyst Ahmed Jasim Al Qamr told Mubasher.
The analyst expected AUB Kuwait to distribute 12% as cash dividends for FY17 or 12 fils per share as well as 5% bonus shares.
Late March 2017, the bank’s ordinary general meeting (OGM) approved paying 12% cash dividends and 8% bonus shares of 8-for-100 shares for FY16.
In the first nine months of 2017, AUB Kuwait achieved a growth of 2.3% in profits to KWD 40.04 million compared to KWD 39.13 million in 9M-16.