AlAhli Bank of Kuwait (ABK) showed a growth of 7.1% or KWD 1.4 million to KWD 20.4 million in its earnings of the first half as compared to KWD19.1 million in the same period of 2014, according to a report issued by AlShall Consulting.

The report noted that such rise came due to a KWD 2.8 million increase in total operational incomes and a KWD 1.5 million reduced provisions.

It is noteworthy that during the first half of 2015, ABK signed an agreement with Perious bank-Greece to acquire 98.5% of its affiliate company, Perius- Egypt. It obtained approval from the “Central Bank of Egypt” to become affiliate to “AlAhli Bank of Kuwait”.

The bank’s liabilities, without calculating equity rights, increased 7.2% or KWD 211.3 million to KWD 3.152 billion as compared to KWD 2.941 billion in the end of 2014, while decreased 3.6% or KWD 119 million when compared with the end of the first half of 2014.

Total assets reported KWD 3.708 billion, an increase by 6%, compared to KWD 3.499 billion in the end of 2014, registering a drop of 2.7% when compared with total assets in the first half of 2014 at KWD 3.812 billion.