A+ A-

Boubyan Bank gains KD 25.1 mln profits in 9 months

KUWAIT, Oct 13 (KUNA) -- Boubyan Bank announced profits of KD 25.1 million in nine months until September 30, 2015, compared to KD 20.2 million with 9.8 fils per share (24 percent raise) in the same time period in 2014.
The bankآ’s indicators showed a remarkable growth by the end of Q3 2015, where the total assets increased to KD 3 billion, growing by 19 percent, while the operating income increased to KD 67 million, growing by 15 percent, said Vice-Chairman and CEO of Boubyan Bank Adel Al-Majed in a press statement Tuesday.
He added that the customers deposits increased by 22 percent, reaching KD 2.3 billion, while the total equity rose to KD 307 million compared to KD 287 million in 2014. The financing portfolio saw a 21 percent growth to reach KD 2.1 billion, Al-Majed also noted.
Al-Majed also stated that the market share, in financing portfolio, increased generally from 2 percent in 2009 to about 6.5 percent in the current period. The bank's share of consumer finance, meanwhile, rose from 1 percent to approximately 10 percent, the CEO added.
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) ht.tb.ag