NBK-Bahrain posts $248m net profit

Manama : National Bank of Kuwait-Bahrain (NBK Bahrain), the branch of NBK Group in Bahrain, reported net profits of USD 248 million (BHD 93.488m) for the year 2017 compared with USD 194.7m (BHD 73.415m) in 2016, a growth of 27 per cent year-on-year.

As of end of 2017, NBK-Bahrain’s total assets increased by 13pc y-o-y to USD 15.350 billion, compared with USD 13.575bn in 2016. While total shareholders’ equity increased 20pc y-o-y to USD 1.590bn. Customer deposits reached USD 8.027bn, up by USD 755m or 10 pc y-o-y.

Isam Al-Sager, NBK Group Chief Executive Officer said “NBK-Bahrain continues its solid performance despite the challenging operating environment. The Bank’s strong results affirm the success of NBK Group’s regional expansion strategy that is built on a culture of prudence and strict risk management practices.”

“We are successfully proceeding in strengthening our position as a leading regional bank,” Al-Sager added. “NBK’s subsidiaries continue to deliver strong results contributing positively to the Group’s profitability and adding value to the growth in our business.”