Kuwait-Mubasher: National Bank of Kuwait-Bahrain, subsidiary of Kuwaiti NBK Group, posted 27% growth in 2014 net profits to $145 million (BHD 54.7 million), compared with $114 million (BHD 42.9 million) a year earlier.

The bank’s total assets increased by 36% to $10.5 billion from $7.75 billion, while total shareholders’ equity rose 23 % to $917 million and customer deposits rose 16% to $5.2 billion.

 “NBK-Bahrain continues its solid performance despite the challenging operating environment. The bank’s strong results affirm the success of NBK Group’s regional expansion strategy that is built on a culture of prudence and strict risk management practices,” said Shaikha Al-Bahar, NBK deputy group chief executive officer.

The top official added that the group is successfully proceeding in strengthening its leading regional position. He also stressed that NBK’s subsidiaries continue to deliver strong results contributing positively to the group’s profitability and adding value to the growth in its business.

NBK posted earlier its financial results for 2014, showing that net profit amounted to nearly KWD 261.8 million ($894 million).