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Warba Bank profits double in H1

Warba Bank profits double in H1
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WARBABANK
WARBABANK
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Mubasher: Warba Bank reported a 97% growth in its net profits during the first half of 2018.

Profits amounted to KWD 5.198 million in H1-18, compared with KWD 2.645 million for the same period last year.

The rise in profits resulted from an increase in total revenues by 52% year-on-year to KWD 40.037 million, according to the bank’s Chairman Abdul Wahab Al Houti.

The bank’s assets surged by 22% to KWD 1.945 billin ($6.6 billion), Al Houti added.