Mubasher: The National Bank of Kuwait (NBK)  is working on expanding in Saudi Arabia over the coming period after obtaining two licences to inaugurate branches in Riyadh and Eastern Province, CEO Isam Al Sager has said.

Kuwait's largest commercial lender is also looking to boost its banking activities through starting providing wealth management services, Al Sager added in a statement to Boursa Kuwait.

The Kuwaiti bank last reported a 16.4% profit growth to KWD 92.26 million during the second quarter of 2018, compared to KWD 79.29 million in Q2-17, while profits went up 12.9% to KWD 185.86 million in H1-18, versus KWD 164.69 million during H1-17.