The financial statements of Boubyan Bank showed an increase in the bank's profits in the first nine months of this year by 37.2%, on an annual basis.
According to the bank's financial data on the Kuwait Stock Exchange website, the profits for the period amounted to about 31.892 million dinars, compared to the profits for the first nine months of 2020 amounting to 23.242 million dinars.
The bank said in a statement to the stock exchange today, that the increase in profits during the comparison periods is mainly due to the increase in net financing income of 18.116 million dinars.
The bank also attributed the increase in profits to the rise in net income from fees and commissions by 2.817 million dinars, which was partially offset by an increase in operating expenses by 11.747 million dinars.
The bank's total operating income in the first nine months of this year amounted to about 140.823 million dinars, an increase of 14.4% over its counterpart in the corresponding period of 2020, which amounted to 123.207 million dinars.
The bank's operating expenses increased during the comparison periods by 22.2%; To reach 64.704 million dinars, compared to 52.957 million dinars in the same period last year.
At the level of the third quarter of this year, Boubyan recorded a profit of 10.438 million dinars, compared to the profits of the same period last year, which amounted to 6.100 million dinars, an increase in profits attributable to To the shareholders of the bank by 71.1%.
