Mubasher: Boubyan Bank achieved a growth of 17.6% in profits during the first quarter of 2017, compared to the same period of 2016, according to a recent statement.
Earnings increased to KWD 10.7 million ($35.01 million) in Q1-17 from KWD 9.1 million ($29.8 million) in Q1-16.
Boubyan’s total assets increased by 13.5% to KWD 3.7 billion in Q1-17 from KWD 3.26 billion in Q1-16, the deputy chairman and CEO of the bank, Adel Al Majed, said.
Operating revenues grew 17% to KWD 29 million, and clients’ deposits increased by 20% to total KWD 3.1 billion.
Boubyan’s finance portfolio increased by 18% to KWD 2.7 billion.
At the stock level, Boubyan Bank closed Tuesday’s session at 415 fils.
