National Bank of #Kuwait reports rise in Q2 earnings | ZAWYA MENA Edition

National Bank of Kuwait reports rise in Q2 earnings | ZAWYA MENA Edition:

National Bank of Kuwait (NBK), the country’s largest lender, reported a 9.86 percent rise in net profit for Q2 2019, as provisions expenses dropped. The results were in line with analysts’ estimates.

The bank recorded a net profit attributable to shareholders of 101.4 million Kuwaiti dinars ($333.05 million), compared to 92.3 million dinars in Q2 2018, in line with CI Capital’s estimate.

“Net income grew by 10 percent year-on-year (y-o-y), driven by 31 percent y-o-y drop in provisions expenses, which we highlight as one of the main positives of the results,” Sara Boutros, senior analyst - real estate and financials at CI Capital told Zawya.