Commercial Bank of Kuwait (Al-Tijari) said its net profit for 2014 has surged by 109% to reach KWD23.5 million (EPS 16.7 fils) compared to KWD49.1 million (EPS 34.9 fils) for 2013.

Al-Tijari Chairman Ali Mousa said the bank's total assets grew by 7.2% to reach KWD4.213 million at the end of December 2014 compared with KWD3.930 million for 2013.

The operating income grew by 7.7% to KWD4.213 million in 2014 compared with KWD134.1 million for 2013.

Mousa pointed out that, an amount of KWD16.7 million was transferred to retained earnings account which now reached KWD132.6 million.

The bank's chief said that 2014 was a positive and remarkable year for the bank particularly in terms of assets quality, financial strength and profitability.