Quarterly earnings of banks listed on the Kuwait Stock Exchange fall 5%

Live – Iman Ghaly: Earnings of banks listed on the Kuwait Stock Exchange fell during the third quarter of 2022 by 4.97% annually, but nine-month earnings and assets rose, according to Mubasher statistics.

The eleven banks listed on the Kuwait Stock Exchange reported profits for the three months ended September 30, worth 270.72 million Kuwaiti dinars ($881.37 million), compared to 284.88 million Kuwaiti dinars ($881.37 million). $927.47 million) in the third quarter of 2021..

Interestingly, the eleven banks are: National Kuwait, Al-Khaleej, Al-Tijari, Al-Ahli, Al-Ahly United Kuwait, Kuwait International, Burgan, Kuwait Finance House “KFH”, Boubyan, Warba and Al-Ahly United – Bahrain..

According to statistics based on data announced by the Kuwait Stock Exchange, “NBK” made the largest quarterly profits with a value of 136.41 million dinars, while “United Bahrain” made the lowest profits with 0.411 million dinars, and “Al-Tijari” alone recorded losses of 2.47 million dinars.

As for the growth rates, Al-Ahly Bank recorded the highest growth rate in the third quarter, YoY at 51.87%, while the profits of 3 banks, led by ‘United – Bahrain’ decreased of 99.10%.

nine-month earnings increase

And as for the results of the eleven banks in the first nine months of this year, their profits amounted to 940.86 million dinars, compared to 760.4 million dinars in the same period of 2021, with an annual growth of 23 .73%.

The National Bank of Kuwait made the largest profit, with a value of 374.24 million dinars, while the “International Bank” made the lowest profit among its counterparts, with 3.95 million dinars..

According to the survey, the eleven banks did not report a loss from the beginning of January to the end of September 2022, but the profits of “UK – Bahrain” decreased by 21.75%, while 10 banks, led by “Warba”, increased of 69.99%.

113.9 billion dinars The assets of 11 banks

The survey found that the eleven listed Kuwaiti banks, as of September 30, 2022, had assets of approximately 113.85 billion dinars, compared to 107.98 billion dinars in the same period of 2021, recording an annual growth of 5, 44 billion dinars.%.

The National Bank of Kuwait seized the most assets, worth 34.71 billion dinars, while the lowest assets were in Kuwaiti International at about 3.60 billion dinars..

The assets of 10 banks increased, the largest of which was in the “international” growth rate of 25.28%, while the assets of Burgan Bank decreased by the end of the previous September 30 by about 12.52% per annum .

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