The financial statements of Warba Bank showed that the bank’s profits fell in the past year by 65.9% on an annual basis.
According to the bank's results for the Kuwaiti Stock Exchange, today, Tuesday, last year's profits amounted to 5.634 million dinars, compared to 2019 profits of 16,538 million dinars.
> The bank said in the statement that the decline in profits during the comparative years is due to the increase in the provision for impairment and credit losses of 26.73 million dinars compared to the year 2019, which was offset by an increase in net Operating profit of 15,211 thousand dinars.
The bank achieved profits of 17.065 million dinars in the fourth quarter of last year, compared to profits of 4.395 million dinars for the same period in 2019, an increase of 288.3%. / p>
The total equity of the bank's shareholders in the last year was 203.731 million dinars, down 6.5% from its value in 2019 of 217.997 million dinars.
On the other hand, the total operating income of the bank increased last year by 31.8%, to reach 78.794 million dinars, compared to 59.762 million dinars in 2019.
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The bank had converted to a loss in the first nine months of last year, amounting to 11.431 million dinars, compared to 12.143 million dinars in profits for the same period in 2019.
