Burgan Bank reports 10% increase in Q1 net profit

May 13, 2014 9:52 am

Kuwait’s third-largest lender by assets, Burgan Bank has posted a 10% jump in first-quarter net profit, beating analyst estimates, Reuters has reported. Burgan, a unit of Kuwait Projects Co (KIPCO), made a net income of KD17.1m ($60.8m) in the three months to the end of March, compared with KD15.6m in the same period a year ago. Analysts had estimated a net profit of KD16.07m for the first quarter.