The Commercial Bank of Kuwait (CBK) issued its financial results for the year ended on December 31, 2014, registering an increase in its profits by about KWD 25.5 million or 107.5%.

The CBK’s earnings totaled, after tax deductions, approximately KWD 49.2 million, compared to KWD 23.7 million in 2013, according to the ‘Weekly Economic Report’ issued by Alshall.

Meanwhile, total operating income amounted to KWD 144.4 million against KWD 134.1 million in 2013, recording an increase by KWD 10.2 million.

The CBK’s total operating expenses soared to KWD 34.6 million in 2014, compared to KWD 32.4 million in 2013, growing by KWD 2.2 million.

Total assets stood at about KWD 4.213 billion against about KWD 3.929 billion in 2013.

Moreover, liabilities, without including total equity, reached about KWD 3.659 billion in 2014, compared to KWD 3.367 billion in 2013, rising by KWD 292.4 million or 8.7%.

It is worth noting that the CBK declared that it would distribute cash dividend by 18% of the nominal value per share, equal to 18 Fils per share.