Kuwait International Bank Sees Nine Month 2021 Profit Increase 567% From 2020

Kuwait International Bank (KIB) reported its financial results for the nine months ended 30th of September 2021, reaching a profit attributable to shareholders of roughly KWD 3.8 million, up from KWD 568,000 in the same period in the previous year, a 567% increase.

Why it Matters?

Raed Jawad Bukhamseen, Vice Chairman and Chief Executive Officer at KIB, explained that the bank's recent profitability was the consequence of its achievement in attracting many companies known for their financial and economic solvency while maintaining high creditworthiness standards and studying and diversifying risks. This size of the financing portfolio reached around KWD 2.1 billion, compared to KWD 2 billion in the same period in the previous year.

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