The National Bank of Kuwait said that the repercussions of the Corona Virus pandemic cast a negative shadow on the bank’s results in the first half of this year, to decrease exceptionally 47% compared to the same period last year. .

The bank stated that it achieved profits of 77.673 million dinars in the first quarter of this year, compared to a profit of 107.729 million dinars in the first quarter of 2019, a decrease of 27.9% .

The bank recorded profits of 33.419 million dinars in the second quarter of 2020, a decline of 67% from the profits of the same period in 2019, which amounted to 101.364 million dinars. p>

The bank said that the financial results for the second quarter of this year reflect changes in the operating environment, as well as regulatory measures to address the repercussions of the emerging Corona Virus pandemic (Covid 19). p>

He explained that the profits for the first half of the current year declined, compared to their counterparts in 2019, mainly due to the increase in provisions for credit losses and losses of impairment, and the decline in net revenue Operating and operating expenses as well.

(Fun Knowledge of Knowledge)