Mubasher: The National Bank of Kuwait (NBK) achieved an increase of 12.5% in profits during the first six months of 2019 compared to the same period a year ago.

Profits reached KWD 209.09 million ($689 million) in H1-19 from KWD 185.86 million ($612.5 million) in H1-18, according to a bourse disclosure on Tuesday.

During the second quarter of 2019, the leading bank recorded a growth of 9.9% in profits to KWD 101.36 million compared to KWD 92.27 million in the corresponding period a year earlier.

The rise in H1 profits this year is attributed to higher interest income, a growth in fees and commission revenues, and lower costs of provisions.

The strong growth in NBK’s business has endorsed H1 profits.

In the first quarter this year, the bank posted a 15.1% year-on-year increase in profits to KWD 107.73 million when compared to KWD 93.59 million.