Mubasher: Al Ahli Bank of Kuwait (ABK) achieved an increase of 35% in profits during the third quarter of 2018 compared to the same period in the prior year.

Earnings grew to KWD 7.94 million ($26.24 million) in Q3-18 from KWD 5.88 million ($19.43 million) in Q3-17, according to a bourse filing on Sunday.

During the nine-month period ended on 30 September 2018, the Kuwaiti bank posted a rise of 22.5% in profits to KWD 27.06 million when compared to KWD 22.09 million in the corresponding period a year ago.

ABK clarified that the increase in the nine-month profits is attributed to higher operating income.

It is noteworthy that ABK registered an increase of 18% in profits to KWD 19.12 in the first half of 2018 from KWD 16.21 million in the same half in 2017.