The financial statements of Boubyan Bank showed an increase in the bank's profits in the first half of this year by 25% year on year.
According to the bank's results for the Kuwaiti Stock Exchange, today, Thursday, the profits for the period amounted to 21.454 million dinars, compared to profits for the first half of 2020 of 17,143 million dinars.
The bank said in a statement to the stock exchange that the increase in profits during the comparison periods is mainly due to the increase in net financing income of 13.129 million dinars, which was partially offset by an increase in operating expenses. The allowance for impairment is 6.792 million dinars and 3.782 million dinars, respectively.
The bank achieved profits in the second quarter of this year at a value of 8.839 million dinars, compared to about 6.916 million dinars in profits for the same period in 2020, an increase of 28%.< /p>
The bank's total operating income during the first half of this year amounted to approximately 92.646 million dinars, compared to 79.467 million dinars for the same period in 2020, an increase of 17%.
The bank's profits rose 23% in the first quarter of this year; To reach 12.615 million dinars, compared to profits of 10.227 million dinars for the same period in 2020.
