Commercial Bank of Kuwait (CBK), the country's fourth-biggest lender by market value, posted a 28.3% rise in third quarter profit on Thursday.
Net profit was 31.27 million dinars ($112.2 million) compared with 24.38 million dinars in the year-earlier period, the bank said in a statement on the bourse website.
Analysts at Global Investment House forecast a net profit of 28.92 million dinars in a Reuters survey last month.
Earnings per share rose to 25.9 fils in the third quarter from 20.9 fils in the same period a year ago, it added. The bank did not other details of its earnings.
Like other Gulf banks benefiting from oil prices that have more than quadrupled since 2002, CBK has been expanding in the Middle East as competition intensifies at home.
The bank made a bid for AlWatany Bank of Egypt in August but was beaten by bigger local rival National Bank of Kuwait.
CLICK HERE TO POST A COMMENT
| 3 stories
Dubai is turning the screw on white-collar crime, with a string of dramatic high-profile arrests.
Spurred by oil and a buoyant banking sector, Kuwait's economy is expanding at a terrific pace.
The Takaful market is booming, with a host of firms queuing up to go public across the GCC.
Jones Lang LaSalle Hotels chief executive Arthur de Haast looks at the region's investment opportunities.
The DIFC's CEO reveals how the financial centre is coping with a new influx of arrivals fleeing distressed Western markets.
AbdulRazak Ali Issa, of BankMuscat, outlines a selection of the company's diverse range of funds.
SURVEYS & REPORTS
Print this page
Email this to a friend
Discuss this article (0 Comments)
Mobile
