Burgan Bank records KWD 50m profit in H1

Mubasher: Burgan Bank achieved an increase of 43% in profits during the second quarter of 2018, compared to the same period in the previous year.

Net earnings enlarged to KWD 30.09 million in Q2-18 from KWD 21.06 million in Q2-17, according to a bourse statement on Thursday.

Earnings per share (EPS) stood at 13.4 fils in Q2-18, compared to 9.4 fils in the same quarter last year.

Total operating revenue of Kuwait's third-largest lender by assets grew by 18% to KWD 78.69 million in Q2-18 from KWD 66.74 million in Q2-17, the statement added.

During the first half of 2018, Burgan Bank recorded an increase of 30% in profits to KWD 50.47 million, compared to KWD 38.87 million in the same period a year ago.

EPS rose by 34% to KWD 20 fils in H1-18 from 14.9 fils in H1-17, the statement added.

Total assets decreased by 19% to KWD 3.69 billion in the first half of 2018 from KWD 4.55 billion in H1-17.

Mubasher Contribution Time: 19-Jul-2018 09:39 (GMT)
Mubasher Last Update Time: 19-Jul-2018 09:50 (GMT)