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FINANCIAL NEWS
Kuwait-based Burgan income grows by 12pct
17 Feb 2017
(MENAFN) Kuwait-based Burgan Bank Group has posted net income of USD222mn for 2016, up 12 percent from KD61mn reported in 2015.
Additionally, earnings per share reached 28 fils, up by 15 percent from 25 fils in 2015, excluding the discounted ops resulting from the sale of Jordan Kuwait bank in Dec 2015.
Moreover, core profits for FY2016 hit KD236mn reflecting 8 percent year-on-year growth, while loans and advances to customers grew by 7 percent to KD4.3bn.
Accordingly, such solid performance is received after booking KD24mn in precautionary reserves for the whole year.
MENAFN1702201700450000ID1095252058
MENAFN1702201700450000ID1095252058
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