Mubasher: National Bank of Kuwait (NBK) on Monday posted a 9.6% year-on-year growth in its profits for the first quarter of 2018.

The lender's profits amounted to KWD 93.6 billion in Q1-18, compared to KWD 85.4 billion in the same quarter a year earlier, according to the bank’s statement to Boursa Kuwait.

Earning per share (EPS) reached 15 fils for the quarter ended 31 March 2018 compared to the prior year period, Kuwait's largest commercial bank noted.

NBK’s assets rose 7.8% to KWD 26.78 billion in the January-March period of 2018 versus KWD 24.85 billion for the corresponding period in the previous year.

NBK attributed the first-quarter profit hike to an increase in net revenues.

For the full-year 2017, NBK’s profits increased 9.2% to KWD 322.36 million, compared to KWD 295.18 million a year earlier.

By the end of Monday’s session, NBK’s stock declined 1.35% at KWD 7.30.