Mubasher: Boubyan Bank reported an 8.1% year-on-year increase in net profit during the second quarter of 2019, recording KWD 14.25 million ($47 million).

The bank’s profit reached KWD 28.87 million in the first six months of the year, up 12.2% from the year-ago period, according to a bourse statement released on Tuesday.

The Kuwait-listed lender ascribed the profit hike to a KWD 3.21 million increase in operating income and KWD 3.98 million increase in investment revenue, fees, and commissions.

In April, Boubyan Bank posted a 16.4% year-on-year hike in profits during the first three months of 2019, registering KWD 14.62 million ($48.12 million).