Wealth Management by

NBK’s quarterly profit up 3.2%

April 16, 2014 9:28 am

National Bank of Kuwait (NBK) has posted a 3.2% increase in first-quarter net profits to KD83.9m ($298m), compared with KD81.3m ($289m) a year earlier, Arab News has reported. NBK Group’s total assets reached KD20.5bn ($72.8bn), up 13.1%, compared with March 2013, while total shareholders’ equity grew 4.5% year-on-year to ($8.8bn) KD2.47bn. “NBK’s profits for the quarter are a further confirmation of NBK’s capacity to deliver growth, thanks to its strong financial position, exceptional asset quality levels and conservative approach to management,” said NBK’s group CEO, Isam Al-Sager.