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Tue 11 Oct 2016 02:34 PM

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Kuwait's Boubyan Bank sees strong profit growth for 2016

Deputy CEO says he expects bank to post profit growth in the 'high teens' percentage this year

Kuwait's Boubyan Bank sees strong profit growth for 2016

Kuwait's Boubyan Bank expects to post profit growth in the "high teens" percentage for 2016, Deputy Chief Executive Abdullah al-Najran al-Tuwaijri told Reuters on the sidelines of a conference on Tuesday.

"Our growth in the first half of the year in bottom line was 18 percent and we expect by the end of this year to be at the same level of high teens," he said.

The Islamic bank made a net profit of 18.91 million dinars ($62.6 million) in the first six months of 2016, up from 16.03 million dinars in the same period a year earlier, according to Thomson Reuters data.

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