Mubasher: The ordinary general meeting (OGM) of Warba Bank approved the board’s recommendation of zero dividends for the fiscal year ended on 31 December 2017.

The Kuwait-based bank has postponed its extraordinary general meeting (EGM) to 27 March due to lack of quorum, according to a bourse statement on Tuesday.

During FY17, the sharia-compliant lender achieved a surge of 163% in profits to KWD 6.77 million compared to KWD 2.58 million in FY16.

At the stock level, Warba Bank closed Tuesday’s session 0.43% lower at 232 fils.