The financial statements of the National Bank of Kuwait showed a decrease in the profits of the bank during the first nine months of this year by 44.2% compared to the profits of the same period last year.
According to the bank's results for the Kuwaiti Stock Exchange, today, Monday, profits for the period amounted to 168.676 million dinars, compared to 302.168 million dinars in the first nine months of 2019.
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The bank said in a statement to the Stock Exchange that the decline in profits during the comparison periods is mainly due to the increase in provisions for credit losses and impairment losses and the decrease in net operating income.
The bank achieved profits of 57.584 million dinars in the third quarter of this year, compared to a profit of 93.075 million dinars for the same period in 2019, a decrease of 38.1%.
The bank explained that the results of the third quarter of this year reflect the changes in the operating environment resulting from the Corona pandemic and the control measures taken in this regard.
