Kuwait's Commercial Bank swings to profit in Q2

Kuwait's third biggest lender by market value says net profit for H1 comes in at $3.09m.
Kuwait's Commercial Bank swings to profit in Q2
(Getty Images)
By Reuters
Tue 27 Jul 2010 11:45 AM

Commercial Bank of Kuwait (CBK) posted a KD2.3m ($7.98m) net profit for the second-quarter, compared with a net loss of KD2.3m a year ago.

Net profit for the first half came in at KD890,000 ($3.09m), the country's third biggest lender by market value said in a statement to the Kuwaiti bourse website on Tuesday.

Analysts at EFG-Hermes had expected CBK to post a second quarter net profit of KD1m, according to a Reuters survey. (Reuters)

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