Warba Bank reports net profit of 36.7 million dinars in nine months
صورة: وكالة الأنباء الكويتية (كونا)
Warba Bank announces net profits of 36.7 million dinars over nine months, with growth in deposits and assets
Translated by Qiyas from كونا — Original source
Kuwait City, Nov 10 (KUNA) -- Al Ahli Bank announced on Tuesday that it achieved net profits of 36.7 million Kuwaiti dinars (approximately $121 million) during the first nine months of this year, representing an earnings per share of 6.93 fils.
In a press release, the bank stated that net investment income for the period amounted to 24.6 million dinars (about $81 million), while net fees and commissions reached 10.7 million dinars (approximately $35.3 million). Net financing income stood at 51.5 million dinars (around $169.9 million).
The bank added that its total assets reached 6.6 billion dinars (approximately $21.7 billion) at the end of September, reflecting an 8 percent growth. Customer deposits totaled 4.1 billion dinars (about $13.5 billion), up 19 percent, while total shareholders’ equity amounted to 825.8 million dinars (roughly $2.7 billion).
According to the statement, Bank Chairman Hamad Al-Sayer said the results reflect the success of the strategic vision the bank follows, which is built on establishing a strong banking institution capable of achieving sustainable growth while maintaining the highest levels of efficiency and flexibility in responding to economic and financial changes.
For his part, CEO Shahin Al-Ghanim said the financial results reflect the effectiveness of initiatives to develop business operations and enhance the efficiency of the operational model. (End) F.N.K. / K.A.H.
