The Commercial Bank of Kuwait's profits increased by a significant rate of 138.6% in the first nine months of this year, reaching 40.8 million dinars, compared to 17.1 million dinars in the same period in the previous year. 2020.
The bank's results showed, today, Wednesday, an increase in profits for the third quarter of this year by 36.3%, to reach 21.68 million dinars, compared to 15.90 million dinars for the same period in the previous year. the previous year.
The bank said in a statement to the Kuwait Stock Exchange today that the increase in profits during the comparison periods is mainly due to the decrease in provisions for impairment and other provisions.
The bank also attributed the increase in profits to an increase in fees and commissions, which partially offset the decline in net interest income, dividend income and other operating income.
The bank's total operating income in the first nine months of this year amounted to about 95.325 million dinars, compared to 96.749 million dinars for the same period in 2020, a decline of 1.5%.
