The financial statements of Boubyan Bank of Kuwait showed that the bank’s profits in the last year (2020) decreased by 45% compared to 2019's profits.
According to the bank's results for the Kuwaiti Stock Exchange, today, Wednesday, last year's profits amounted to 34.42 million dinars, compared to 2019 profits of 62.65 million dinars.
the profit of the bank’s share in the last year was 9.66 fils, compared to 19.41 fils per share the previous year.
> The bank said that the decline in annual profits last year was mainly due to the increase in the provision for impairment of 40.3 million dinars, which was partially offset by an increase in operating profits of 8.38 million JD.
On the quarterly level, the bank achieved profits of 11.18 million dinars during the fourth quarter of last year, compared to a profit of 17.42 million dinars for the same period in 2019, a decrease of its percentage 36%.
The bank’s board of directors recommended distributing bonus shares to shareholders for the year 2020, at a rate of 5% of the capital by 5 shares for every 100 shares, with a total number estimated at 151.41 One million shares
