National Bank of #Kuwait Q1 net profit up 15.1 pct, beats forecasts - Reuters

National Bank of Kuwait Q1 net profit up 15.1 pct, beats forecasts - Reuters:

National Bank of Kuwait , the country’s biggest lender, reported a 15.1 percent rise in first-quarter profit, helped by higher net interest income and lower provisioning charges, beating analysts’ forecasts.

The bank said net profit totalled 107.7 million kuwaiti dinars ($354.45 million) during the January to March period, up from 93.6 million dinars a year earlier.

EFG Hermes had made a net profit projection for NBK of 100 dinars for the period, while SICO Bahrain had an estimate of 96 million dinars.