Kuwaiti banks post upticks in Q1 net profit

  • Share via facebook
  • Tweet this
  • Bookmark and Share

Gulf Bank, Kuwait's fourth largest lender by market value, reported a 7.7 percent rise in first-quarter net profit on Tuesday.

Net profit for the first three months of the year was KD7.94m ($27.8m), compared to KD7.37m in the same period a year ago, the bank said in a statement filed to the stock exchange.

Separately, Kuwait Finance House (KFH) , the country's biggest Islamic lender, reported a 15 percent rise in first-quarter net profit on Tuesday, lower than analysts' estimates.

Net profit rose to KD23m ($80.7m) from KD20m in the same period a year ago, the lender said.

Two analysts in a Reuters survey had predicted a KD25.15m dinar net profit on average for the first quarter.

Related:
Companies

Market Performance

Gulf Bank
275.0
0.0 0.0 (%)
Join the Discussion

Disclaimer:The view expressed here by our readers are not necessarily shared by Arabian Business, its employees, sponsors or its advertisers.

Please post responsibly. Commenter Rules

  • No comments yet, be the first!

Enter the words above: Enter the numbers you hear:

All comments are subject to approval before appearing

Further reading

Features & Analysis
Debt market beckons as Saudi bourse opens to foreigners

Debt market beckons as Saudi bourse opens to foreigners

Corporate bond issuance in the kingdom is the most active in...

Public pressure grows on Gulf sovereign funds with cheap oil

Public pressure grows on Gulf sovereign funds with cheap oil

SWF managers face growing pressure from politicians and the public...

Gulf banks increase lending footprints in Asia, Africa

Gulf banks increase lending footprints in Asia, Africa

There's an emerging trend in international capital markets: the...

1
Most Discussed