Mubasher: Ithmaar Holding achieved an increase of 20% in profits during the first quarter of 2017, compared to the same period in the previous year.

The bank, which is listed on both Boursa Kuwait and the Bahrain Bourse (BHB), achieved $5.79 million worth profits in Q1-17 from $4.83 million in Q1-16, according to a press release issued on Sunday.

“Faysal Bank Limited (Pakistan), a subsidiary of the Ithmaar Bank, continues to report growth in business and will be adding 50 new branches throughout Pakistan as part of its branch expansion plan in 2017 to exceed 400 branches,” the CEO of Ithmaar Bank, Ahmed Abdul Rahim, said.