Mubasher: Burgan Bank reported a decline of 42.4% in profits to KWD 11.29 million ($37.67 million) in the fourth quarter of 2017 compared to KWD 19.59 million ($65.37 million) in the same period last year.

During the 2017 fiscal year, the Kuwait-based bank posted a decrease of 4.4% in profits to KWD 65.2 million from KWD 68.2 million in the previous fiscal year, according to a recent statement.

The board members of Burgan Bank recommended a cash dividend of 7% or 7 fils per share, in addition to a bonus share of 5% for FY17.

At the stock level, Burgan bank closed Wednesday’s session 0.97% higher at 312 fils.