The National Bank of Kuwait reported that net earnings increased by 45% on a yearly basis to 136. 4 million Kuwaiti dinars in the third quarter of this year (438. 9 million dollars).
The bank said in a statement today, Tuesday, that its financial results for the first nine months of the year showed a 47% profit growth of 374. 2 million dinars (1. 2 billion dollars) during that period, compared to 254. 8 million dinars (819. 9 million dollars) for the same period of the year 2021.
The announcement claims that as of the end of September 2022, the total assets increased by 6. 8% annually to a total of 34. 7 billion dinars (111. 7 billion dollars).
20.6 billion Kuwaiti dinars (66. 3 billion dollars) were borrowed in total, with an annual rate of 8.7%.
Deposits from customers rose 11.0% to 19.3 billion dinars (62. 0 billion dollars).
The total shareholders ’rights amounted to 3. 5 billion Kuwaiti dinars (11. 2 billion dollars), an increase of 1.
On a yearly basis, 5%
In the context of his comment on the results, the Chairman of the National Bank of Kuwait, Hamad Al -Bahr, said: “He continued to achieve a strong operational performance across all the main business sectors, benefiting from the improvement of the macroeconomic environment.
” The sea stressed that the operational environment continued during the past months to gain more momentum, in light of the continued recovery of the pace of commercial activity and the improvement of the pace of consumer spending and the increase in oil production, which coincides with the high prices, which strengthened the public financial conditions and granting optimism to the improvement and selection of capitalist spending during the coming period ..
In the third quarter, the National Bank of Kuwait’s profits rose by 45% to $439 million.
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