The financial statements of Warba Bank showed a significant increase in the bank's profits in the first quarter of this year by 142.7%, on an annual basis.
According to the bank's results for the Kuwaiti Stock Exchange, today, Thursday, the profits for the period amounted to 6.751 million dinars, compared to the profits of the first quarter of last year, which amounted to 2.782 million dinars.
Earnings per share at the end of the first quarter of this year amounted to 2.64 fils, compared to 0.19 fils per share for the same period last year.
The bank said in a statement to the stock exchange that the increase in profits during the comparison periods is mainly due to the decrease in the provision for impairment losses, the increase in net operating income as a result of an increase in net fees and commissions and net income. investment income. This was partially offset by an increase in operating expenses.
The bank's total operating income in the first quarter of this year amounted to 20.308 million dinars, compared to 19.697 million dinars in the same period in 2021, an increase of 3.1%.< /p>
The bank's profits rose 183.4% last year; To reach 15.964 million dinars, compared to 2020 profits of 5.634 million dinars.
