(MENAFN- Kuwait News Agency (KUNA)) Boubayan Bank announced Thursday net profits of KD 16 million for the first half of 2015, up by 28 percent, compared with KD 12.6 million in 2014. The earnings per share reached 7.78 fils. (One KD = USD 3.3).
The bank witnessed a noticeable growth in the first half of this year as the overall assets rose to KD 2.9 billion, up by 19 percent, as operational revenues climbed to KD 43.8 million, up by 12 percent, Deputy Chairman and CEO of Boubyan Bank Adel Al-Majed said in a press statement Thursday.
The deposits of customers increased by 25 percent to KD 2.3 billion, he said, noting the financing portfolio rose to KD two million, up by 21 percent.
He said the profits of the first half of this year are a good beginning for implementing the Bank's new strategy for 2020.
Established in 2004, Boubyan Bank is a Kuwaiti Islamic bank and one of the emerging banks in Kuwait and GCC, benefiting from its relation with National Bank of Kuwait, the major shareholder, which is ranked among the largest 300 banks worldwide. (end) mfs.ms.hm
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