KUNA : Burgan Bank announces KD 27.8m H1 2013 net profits - Economics - 12/08/2013:
"Burgan Bank Group announced a KD 3.3 million drop in first half net profits for 2013 - representing KD 27.8 million in 2013 compared with KD 31.1 million a year earlier - despite gaining the highest quarterly net profits in three years.
In the announcement, Majed Al-Ajeel, Chairman of Burgan Bank Group described 2013 second quarter net profits, before precautionary provisions of KD 23.3 million, as "exceptional" "Operating income soared to KD 71 million registering a growth of 48pct compared to the same period last year. Operating Profits before provisions have also surged to reach KD 41.4 million, reflecting a growth of 41pct compared to the same period last year," he added.
The high quarterly performance has enabled the group to book KD 11.5 million in extra precautionary reserves to further support its growth plans and to strengthen the continuous improvements of its asset quality. Burgan Bank Group also achieved an annual growth of 5pct in loans and advances as well as a 13pct increase in customer deposits."
'via Blog this'
No comments:
Post a Comment