Forgot your password?

Back to login

Kuwait's Burgan Bank says Q2 net profit falls by 14 percent
August 2, 2016, 3:40 pm

Burgan Bank, Kuwait's third-largest lender by assets, reported a 14 percent fall in second-quarter net profit on Tuesday. A unit of Kuwait Projects Co.(KIPCO), Burgan made a net profit of 17.1 million dinars ($56.7 million) in the three months to the end of June, compared to 19.9 million dinars in the same period a year earlier, it said in a bourse filing.

EFG Hermes forecast the bank would make a quarterly net profit of 14.7 million dinars, with HSBC expecting earnings of 14 million dinars. One reason for the profit fall was a slide in net interest income, which sank to 37.6 million dinars in the quarter, compared to 41.1 million dinars in the year earlier period.

Share your views

"It is hard to fail, but it is worse never to have tried to succeed."

"Envy comes from wanting something that isn't yours. But grief comes from losing something you've already had."

Photo Gallery