Kuwaiti's Warba Bank announced that it achieved profits of 9.2 million dinars in the first nine months of this year, compared to losses of 11.43 million dinars for the same period in 2020.< /p>
The bank said in a statement to the Kuwait Stock Exchange, today, Sunday, that the improvement in results during the comparative periods is due to several factors, most notably the increase in net investment income and foreign exchange earnings by 11.945 million. dinars and 3.661 million dinars, respectively.
The bank also attributed the positive shift in results to the decrease in the provision for impairment in the amount of 3.919 million dinars, while this was offset by a slight increase in operating expenses.
At the level of the third quarter, the bank's profits declined by 8.7% to reach 3.144 million dinars, compared to profits by 3.445 million dinars in the third quarter of last year.
