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AUB Kuwait posts lower profits in Q2

AUB Kuwait posts lower profits in Q2
The increase in H1 profits was due to an increase in operating revenues (Photo Credit: Arabianeye-Reuters)
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Kuwait-Mubasher: Ahli United Bank – Kuwait (AUB Kuwait) posted a decline of 1% in profits of the second quarter this year as compared to the same period in 2015.

Earnings reached KWD 10.05 million ($33.17 million) in Q2-16 as compared to KWD 10.15 million ($33.5 million) in Q2-15, according to a statement issued Monday.

Over the first half, profits reached KWD 25.64 million, up by 0.43% from KWD 25.53 million in the same half of 2015.

The increase in H1 profits was due to an increase in operating revenues, the statement clarified.

AUB Kuwait’s stock started Monday’s session at 400 fils, after 250 shares were traded at a value of KWD 100 million.