Boubyan Bank achieved an increase of 18% in net profits to KWD 40.3 million ($133 million) during the nine-month period ended on 30 September 2018 compared to the corresponding period 2017.
Earnings per share (EPS) surged to 15.83 fils in 9M-18 compared to 3.21 fils 9M-17, according to a recent statement.
We are happy for the positive income statements that we have achieved as we are approaching the end of fiscal year 2018, the deputy chairman and CEO of Boubyan Bank Adel Abdul Wahab Al Majed said.
The CEO added that total assets increased by 11% to KWD 4.3 billion by the end of the third quarter.
Operating revenues grew by 15% to KWD 105 million, while the customers’ deposits enlarged by 9% to KWD 3.6 billion, Al Majed added.
Shareholders’ equity rights of Boubyan Bank increased to KWD 396 million in the third quarter of 2018 compared to KWD 364 million in the same period a year ago.
Boubyan Bank’s finance portfolio rose by 12% to KWD 3.2 billion.
At the stock level, Boubyan Bank closed Wednesday’s session 1.09% lower at 546 fils after 1.37 million shares were traded.