Warba bank's financial statements for the first quarter of 2015, indicates that total assets increased by 46.1% to KWD 626.9 million compared with KWD 429.2 million in the same period 2014, said a specialized report compiled by ALShall Consulating.

Item of financing receivables surged 43.7% to KWD 392.1 million compared with KWD 272.8 million for the same period of the previous year.

Meanwhile, item of placements with banks climbed 157.9% to record KWD 135.4 million in Q1-2014, compared with KWD 52.5 million for the similar period of the preceding year.

The Kuwaiti listed bank turned to profitability in Q1-2015, as it posted net profits of KWD 77,000 against KWD 162,000 in loss for the same period of 2014.

The lender turned to profitability due to the rise in total operational incomes by a higher value than the rise in total operational expenses.