KIB reports KD 16.1 mln net profits for 2015

KUWAIT, Jan 27 (KUNA) — The Kuwait International Bank (KIB) has reported net profits of KD 16.1 million for the year 2015, compared to KD 13.7 million in 2014, up by 17 percent.
In a press statement, KIB Chairman Sheikh Mohammad Al-Jarrah Al-Sabah said that the bank’s total revenues increased by KD 1.1 million to KD 5.4 million, compared to KD 4.3 million last year, a growth of 26%.
The bank’s total expenditure amounted to KD 26.8 million in 2015, compared to KD 25.4 million last year, he said.
Moreover, the bank’s assets rose to KD 127.5 million, an increase of 8% to reach KD 1.79 billion, compared to KD 1.66 billion during the end of last year.
The bank’s deposits rose to KD 1.02 billion, compared to KD 989 million during the end of last year, an increase of KD 31 million, a 3% growth. (end) jk.nam