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GBK records KWD 16m profits in Q3

GBK records KWD 16m profits in Q3
The increase in GBK’s earnings is attributed to a growth in net interest income
GBK
GBK
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Mubasher: The Gulf Bank of Kuwait (GBK) achieved an increase of 18.6% in profits during the third quarter of 2018 compared to the same period in the previous year.

Earnings grew to KWD 15.87 million ($52.44 million) in Q3-18 from KWD 13.88 million ($44.21 million) in Q3-17, according to a recent statement.

During the first nine months of 2018, GBK recorded an increase of 18.1% in profits to KWD 42.68 million compared to KWD 36.15 million in the corresponding period a year ago.

The increase in GBK’s earnings is attributed to a growth in net interest income against a partial decrease in operating revenues.

At the stock level, GBK closed Monday’s session 0.40% lower at 246 fils.