LOC18:25
15:25 GMT
KUWAIT, Oct 29 (KUNA) - Kuwait International Bank (KIB) announced on Wednesday a net profit of KD 20.4 million (approximately USD 67 million) for the first nine months of 2025, representing a 26 percent increase compared with KD 16.2 million (around USD 53 million) for the same period last year. Earnings per share stood at 10.48 fils.
In a press statement, KIB Chairman Sheikh Mohammad Jarrah Al-Sabah said that total operating income reached KD 71.7 million (about USD 236.6 million), recording a growth of 10 percent compared with the first nine months of 2024.
He added that total assets grew by 22 percent to KD 4.37 billion (around USD 14.4 billion), up from KD 3.60 billion (about USD 11.8 billion) in the corresponding period of last year. This increase was mainly driven by a KD 545 million rise in the financing portfolio, which grew by 20 percent to reach KD 3.21 billion (USD 10.5 billion) as of September 30, 2025.
For his part, Vice Chairman and Chief Executive Officer Raed Bukhamseen stated that during the first nine months of 2025, the bank continued to implement its ambitious strategy steadily, achieving balanced growth across key performance indicators while maintaining asset quality and a solid financial position.
Bukhamseen noted that total shareholders' equity grew by 6 percent to KD 371 million (approximately USD 1.2 billion) as of September 30, 2025, compared with KD 351 million (around USD 1.1 billion) a year earlier.
The bank successfully issued sustainable Tier 2 sukuk worth USD 300 million, achieving a strong investor response with subscription demand exceeding seven times the issuance size, reaching over USD 2.1 billion. The sukuk were priced at 175 basis points above US Treasury rates, with an expected annual profit rate of 5.535 percent, he added. (end)
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