(MENAFN- Kuwait News Agency (KUNA)) KUWAIT, Oct 10 (KUNA) -- Boubyan Bank on Wednesday announced KD 40.3 Million in net profits for Q3 2018, at a growth rate of 18 percent compared with the comparative period of the past year, while the earning per share amounts to 15.83 fils compared with 13.21 fils for the comparative period of 2017.
Bank's Vice-Chairman and Chief Executive Officer Adel Abdul Wahab Al-Majed said, despite the challenges of competition, the bank managed to achieve its targets by acquiring market shares in various sectors whether in retail or corporate banking services Al-Majed stressed that this showed the trust the bank enjoyed on different levels, whether among shareholders or customers, and that this reflected positively on all the bank's financial indexes.
Bank's main indicators witnessed a remarkable growth until the end of September 2018, where the total assets increased to KD 4.3 billion, at a growth rate of 11 percent while the operational revenues increased to hit KD 105 million, at a growth rate of 15 percent, in addition to the increase in customers' deposits by 9 percent, amounting to KD 3.6 billion.
The total equity of the bank increased to KD 396 million, until the end of Q3 2018, compared with KD 364 million for the comparative period of last year, and that there was a notable increase in the financing portfolio up to KD 3.2 billion with a growth rate of 12 percent, in addition to the continuous growth of the bank's customers' base.
Boubyan Bank was established in 2004 and was enlisted in Kuwait Stock Exchange (KSE) in 2006 with a capital of KD 196.5 million. (end) fnk.ht.ss
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