Arab Today, arab today cbk reports operating profit of kuwaiti dinar 1017m
Last Updated : GMT 15:16:41
Arab Today, arab today
Arab Today, arab today

CBK reports operating profit of Kuwaiti dinar 101.7m

Arab Today, arab today

Arab Today, arab today CBK reports operating profit of Kuwaiti dinar 101.7m

Kuwait - KUNA

Commercial Bank of Kuwait (CBK) on Wednesday announced operating profit of KD 101.7 million, up by 8.5 percent compared with KD 93.8 million for 2012. The net profit after provisions amounted to KD 23.5 million for the financial year ended 31 December 2013, an increase of KD 22.4 million compared to the net profit of KD 1.1 million during 2012.In view of these encouraging financial indicators and profitability of the Bank during 2013, the Board of Directors decided to recommend to the General Assembly a cash dividend distribution of 7 fils per share (7 percent of par value) and bonus shares of 11 percent. This recommendation is subject to the approval of the competent regulatory authorities.In continuation of its prudent policy, the bank used part of its operating profit to enhance its provisioning base. The total provisions held with the bank against its credit portfolio as at the end of the 31st December 2013 amounted to KD 128.2 million and the provision coverage ratio for NPLs improved significantly to 367 percent at the end of 2013 compared to 169 percent to 2012.Commenting on the bank's financial results, Yacoub Al Ebrahim, the bank's official spokesman said Commercial Bank's total assets at the end of December 2013 reached KD 3.9 billion (December 2012: KD 3.7 billion) with shareholders equity of KD 561.8 million (December 2012: KD 552.1 million).The capital adequacy ratio at the end of December 2013 is 18.38 percent which exceeds the minimum 12 percent required by the Central Bank of Kuwait, and is more than twice the minimum ratio mandated by Basel Committee. The loans and advances grew by 8.9 percent and customer deposits increased by 16.5 percent during the year, he said.The official spokesman drew the attention of the bank's shareholders and customers and financial analysts to the internationally recognized credit quality indicator, namely non-performing loans to total credit ratio emphasizing that it showed improvement with non-performing loans ratio falling from 2.76 percent of total loans in 2012 to 1.35 percent in 2013 which reflects the Bank's improving the quality of its credit portfolio by 50 percent during one year.

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today cbk reports operating profit of kuwaiti dinar 1017m Arab Today, arab today cbk reports operating profit of kuwaiti dinar 1017m

 



Arab Today, arab today
Arab Today, arab today Heart of Turkish Riviera is Alluring Seaside Escape

GMT 11:11 2017 Tuesday ,28 March

Heart of Turkish Riviera is Alluring Seaside Escape
Arab Today, arab today 5 Crafty Must-Have Limited-Budget Ideas

GMT 17:03 2017 Saturday ,25 March

5 Crafty Must-Have Limited-Budget Ideas
Arab Today, arab today Russia, Iran ink economic deals

GMT 08:03 2017 Wednesday ,29 March

Russia, Iran ink economic deals
Arab Today, arab today Media host gives priority to problems of people

GMT 07:00 2017 Tuesday ,28 March

Media host gives priority to problems of people
View News in Arabic - Business: مصارف
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Disaster costs nearly double to $175bn

GMT 10:42 2017 Tuesday ,28 March

Disaster costs nearly double to $175bn
Arab Today, arab today Campaign fights sexual harassment in Egypt

GMT 11:14 2017 Tuesday ,28 March

Campaign fights sexual harassment in Egypt
Arab Today, arab today Trump moves to roll back Obama climate measures

GMT 08:39 2017 Wednesday ,29 March

Trump moves to roll back Obama climate measures
Arab Today, arab today Prepares to give stargazers an eyeful

GMT 13:38 2017 Monday ,06 March

Prepares to give stargazers an eyeful
Arab Today, arab today Mercedes, VW recall million vehicles in China

GMT 09:16 2017 Wednesday ,29 March

Mercedes, VW recall million vehicles in China
Arab Today, arab today Uber grounds self-driving cars

GMT 09:11 2017 Monday ,27 March

Uber grounds self-driving cars
Arab Today, arab today Trump poised to roll back climate protections

GMT 09:28 2017 Tuesday ,28 March

Trump poised to roll back climate protections

GMT 18:57 2017 Tuesday ,21 March

Accessories designer reveals her new collection

GMT 11:10 2017 Monday ,27 March

Trump to roll back Obama clean power plan

GMT 13:26 2017 Friday ,24 February

Expresses Algerian history by woody figures

GMT 11:55 2017 Wednesday ,29 March

Need ‘gymspiration?’ The top fun fitness bloggers

GMT 09:02 2017 Thursday ,23 March

Laptop ban sparks ire

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons

GMT 05:17 2017 Wednesday ,29 March

Samsung to sell refurbished Galaxy Note 7s

GMT 19:27 2017 Saturday ,11 March

Boualsof launches "Priestess Kahina" collection
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday