MANAMA: National Bank of Kuwait-Bahrain (NBK-Bahrain) reported net profits of $313 million last year compared with $248m in 2017, an increase of 26 per cent.
Total assets increased by 9pc to $16.74 billion by December last year compared with $15.35bn in 2017, while total shareholders’ equity increased by 14pc to $1.81bn. Customer deposits increased by 7pc to $8.61bn.
NBK Group chief executive Isam Al Sager attributed the year-on-year profits to the bank’s successful regional expansion strategy.
“The strong growth achieved by NBK-Bahrain is a testament to the success of its vision aimed at affirming its position in the Bahraini market, which is one of the main growth markets for NBK Group, given its promising growth opportunities and positive prospects,” Mr Al Sager added.
General manager Ali Fardan said, “This strong performance reflects our conservative management as we have consistently focused on our core business and ways to diversify sources of income.”
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