Warba Bank of Kuwait announced an annual profit of 16.54 million dinars, compared to 12.74 million dinars in 2018, with a growth of 30%. p>
The bank’s earnings per share reached 7.73 fils as on December 31, 2019, compared to 7.06 fils per share at the end of the same period in 2018.
The bank said in a statement to the Kuwaiti Stock Exchange today, Thursday, that the increase in annual profits is due to the increase in the financing portfolio by 41%, and the increase in the investment portfolio by 85%, which contributed Increase in operating profit after provision for impairment.
The bank achieved profits of 4.4 million dinars in the fourth quarter of last year, compared to 4.61 million dinars in the same period in 2018, a decrease of 5%. < / p>
The Board of Directors of Warba Bank recommended, in its meeting yesterday, Wednesday, the distribution of bonus shares to the shareholders of the bank for the past year at a rate of 5% of the capital by 5 shares per 100 shares and the value of 7.5 million dinars.
