Mubasher: The profits of Warba Bank leapt by 93% year-on-year during the third quarter of 2019, the bank’s financial statements showed.

The profits surged to KWD 5.643 million in Q3-19 from KWD 2.929 million in the corresponding quarter a year earlier.

Earnings per share (EPS) grew by 391% to 2.11 fils in Q3-19 from 0.43 fils in Q3-18.

During the period from January to September 2019, the bank registered a 49% year-on-year increase in profits to KWD 12.143 million.

Warba Bank attributed the rise in profits to the increase in both the financing and investment portfolios by 43% and 59%, respectively.

It is worth remarking that during the first half of 2019, the bank’s profits increased by 25% to KWD 6.5 million, from KWD 5.2 million in H1-18.