Mubasher: Al Ahli Bank of Kuwait (ABK) on Sunday posted a 17.9% year-on-year increase in profits for the second quarter of 2018.
Net profits amounted to KWD 9.08 million ($30.04 million) in Q2-18, compared to KWD 7.7 million ($25.47 million) in Q2-17, according to the bank’s filing to Boursa Kuwait.
For the first half of 2018, ABK’s net profits grew 18% to KWD 19.12 million, from KWD 16.12 million in H1-17.
The bank attributed the first-half profit hike to an increase in operating income, the statment showed.
It is worth noting that the Kuwaiti bank’s profits levelled up 18% year-on-year to KWD 10.04 million in Q1-18.
By the end of Thursday’s session, ABK’s stock declined 7% to KWD 312.
