Kuwait – Mubasher: Al Ahli Bank of Kuwait (ABK) recorded an increase of 5.6% in profits during the second quarter of fiscal year 2017, compared to the same period of the previous year.
The earnings grew to KWD 7.7 million ($25.37 million) in Q2-17 from KWD 7.29 million ($24.02 million) in Q2-16, according to a bourse filing issued on Monday.
During the first six months of 2017, ABK’s profits rose by 7.7% to total KWD 16.21 million from KWD 15.05 million in the corresponding period a year ago.
The bank clarified that the positive financial results were due to 2.3% higher operating income to KWD 75.5 million in H1-17 compared to KWD 73.8 million in the same period in 2016.
At the stock level, ABK closed Monday’s trading session at 322 fils.
