KIB Achieves KD 2.34 Billion Net Profits H1 2019Source: www.export-egypt.com 8/4/2019, Location: Middle East |
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Kuwait International Bank (KIB) announced Sunday that its total assets increased by KD 266 million to reach almost KD 2.34 billion, a growth of almost 13 percent compared to similar period last year.
KIB said in its analysts Investors conference, published on Kuwait Bourse website, that the decline in the investment portfolio is due to the maturity of some of the investments in sukuk during the period. KIB's investment portfolio decreased by one percent to reach almost KD 150 million primarily through maturity of various sukuks, compared to almost KD 151 million in the corresponding period in June 2018, the statement added. It pointed out that investment revenues increased compared to the first half of last year, customers' deposits grew by KD 136 million (USD 442 million) reaching KD 1.42 billion (USD 4.6 billion) witnessing a growth of almost 11 percent compared to similar period last year. KIB was established in 1973 and listed on Kuwait Stock Exchange in 1984 with a capital of KD 107.8 million (about USD 366.5 million). The bank manages all banking, financing and investment transactions in accordance with Islamic Sharia. (KD=USD 0.304) |
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