Mubasher: Gulf Bank of Kuwait (GBK) reported a growth of 12.3% in profits during the second quarter of 2017, compared to the same period in the previous year.

The earnings increased to KWD 13.4 million ($44.16 million) in Q2-17 from KWD 11.93 million ($39.31 million) in Q2-16, according to a bourse filing issued on Monday.

During the first half of 2017, GBK’s profits increased by 10% to total KWD 22.76 million, compared to KWD 20.7 million in the same half of 2016.

The bank’s net operating profit in H1-17 registered KWD 23.83 million which was 10% higher than KWD 21.67 million in H1-16, the statement added.