– Kuwait’s Warba Bank announced Saturday a net profit of KD 15.6 million (USD 51.4 million) in the first nine months of 2022, a growth of 70 percent, compared with the same period of 2021.
In a press statement, the bank said the net financing revenues rose to KD 36.8 million (about USD 121.4 million) in the first three quarters of 2022, with a 6.1 percent increase compared with the corresponding time of the last year, it said.
The debit balance rose to KD three billion (about USD 9.9 billion) on September 30, 2022, an increase of KD 580 million (about USD 1.9 billion), it noted.
It pointed to a noticeable growth of the total assets reaching KD 4.156 billion (about USD 13.7 billion, at the end of the first nine months of 2022.
The bacnk’s capital adequacy hit 16.7 percent, exceeding the minimum limit set by the regulatory bodies, it stated, referring that this percentage affirms Warba’s financial status strength.
Source: Kuwait News Agency