Abdullah Al Sumait, Deputy CEO of Al Ahli Bank of Kuwait (ABK)-ruled out seeking bank's capital increase.

Al Sumait who was cited by CNBC Arabia noted that ABK has no need to undergo any capital hike in order to comply with "Basel III" measures.

Basel III is a comprehensive set of reform measures designed to improve the regulation, supervision and risk management within the banking sector. The Basel Committee published the first version of Basel III in late 2009, giving banks approximately three years to satisfy all requirements. Largely in response to the credit crisis, banks are required to maintain proper leverage ratios and meet certain capital requirements.

On other side, recently, ABK disclosed its interim financial results financial statements for the nine months period ended September 30, 2014.

The statements reflected KWD27.29 million net profit compared to KWD25.23 million net profit for the corresponding period of previous year, with increase by around 8.2%.

Moreover, Sumait noted earlier that ABK looks forward to achieve profit growth rate of 8% to 10% in 2014.