Thursday, 11 October , 2018     |     2346      |      +      |     

National Bank of Kuwait Q3 net profit up 17.5 pct

National Bank of Kuwait Q3 net profit up 17.5 pct : Google
  • Business

National Bank of Kuwait, the country’s biggest lender, posted a 17.5 percent rise in third-quarter profit, while nine-month profit also jumped 14.3 percent, helped by higher interest rates and higher net income from Islamic financing.

Big lenders such as NBK have benefited from increased spending on government-backed projects, supported by higher oil prices.

Analysts expect corporate borrowing appetite will continue to improve in Kuwait as oil prices trade near a four-year high.

The bank posted a net profit of 86.5 million dinars ($285.1 million) during the July to September period, up from 73.7 million dinars a year earlier.

EFG Hermes had made a net profit projection for NBK of 92 million dinars for the period.

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Category: #Business | 2018/10/11 latest update at 4:20 PM
Source : Reuters | Photocredit : Google
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