Kuwait-Mubasher: Al Ahli Bank of Kuwait (ABK) reported a plunge of 89% in earnings for the fourth quarter in 2015, according to a bourse statement.

ABK has achieved KWD 1.14 million ($3.8 million) profits in Q4-15, compared to KWD 10.3 million ($34.3 million) in Q4-14.

The Kuwaiti bank’s profits decreased 19.2% to KWD 30.36 million during the fiscal year of 2015, down from KWD 37.59 million a year earlier.

ABK’s operating profits rose 5.8% in 2015 as compared to FY14.

The board of directors has recommended a distribution of 10% cash dividends or 10 fils per share payout.