The National Bank of Kuwait (NBK) has achieved a growth of 17.5% in profits during the third quarter of 2018 compared to the same period in the prior year.
Earnings enlarged to KWD 86.5 million ($285.41 million) in Q3-18 from KWD 73.7 million ($243.18 million) in Q3-17, according to a statement by the bank on Wednesday.
During the first nine months ended September, the GCC country’s biggest lender posted an increase of 14.3% in profits to KWD 272.4 million from KWD 238.4 million in the same period last year.
Total assets enlarged by 5.7% to KWD 27.1 billion when compared to the nine months of 2017.
The shareholders’ equity rights of NBK grew by 5.2% to KWD 3.1 billion by the period ended on 30 September this year when compared to the corresponding period a year ago.
Total loans and credit facilities rose by 6.5% to KWD 15.4 billion, while clients’ deposits increased by 5.4% to KWD 14.1 billion.
At the stock level, NBK closed Wednesday’s session 0.36% lower at 829 fils.