Burgan Bank posts steep decline in annual, Q4 earnings

February 25, 2014 2:36 am

Kuwaiti lender, Burgan Bank has reported its fourth-quarter net profit dropped to KD2.52m ($8.9m), compared with KD9.22m in the corresponding period of 2012, Reuters has reported. The lender, 58% owned by conglomerate Kuwait Projects Co, said its 2013 net profit also fell 63.8% to KD20.1m, compared with the previous year, without giving details on why its annual profit was lower.