The financial statements of Al Ahli Bank of Kuwait showed the bank's turn to profitability at the end of the first half of this year compared to losses for the same period in 2020.
According to the bank's results for the Kuwaiti Stock Exchange, today, Monday, the profits for the period amounted to 15.080 million dinars, compared to losses in the first half of 2020 of 4.648 million dinars.
The bank said in a statement to the stock exchange that the positive shift in profits during the comparison periods is mainly due to the improvement in operating income and the decrease in provisioning costs.
The bank achieved profits of 7.968 million dinars in the second quarter of this year, compared to losses for the same period last year, which amounted to 10.693 million dinars.
The bank's total operating income at the end of the first half of this year amounted to about 75.806 million dinars, compared to approximately 69.094 million dinars in the first half of 2020.
Al-Ahly of Kuwait's profits fell 17.7% in the first quarter of this year; To reach 7.112 million dinars, compared to profits for the first quarter of last year, which amounted to 6.045 million dinars.
