Ahli Bank of Kuwait gains 25.2m Kuwaiti dinar profit over 9 months

Ahli Bank of Kuwait (ABK) announced a KD 25.2 million (USD 89.1 million) net profit for the first nine months of 2013, with 16 fils Earnings Per Share (EPS). ABK's Chairman Ahmed Behbehani told the press Sunday that operating earnings in the first nine months of 2013 amounted to KD 87.7 million (USD 310. 1 million), operating profits reached KD 59 million (USD 208.6 million), shareholders' equity was at KD 534 million (USD 1.8 billion), while total asset at the end of September recorded at KD three billion. Behbehani noted that despite hard economic conditions, the rate of operating profits in the bank remained high. He added that the volume of deposits has increased over the past nine months and the bank will continue diversifying its sources to establish a stable financing base. ABK's capital adequacy ratio has increase by 27.2 percent, the highest ratio in comparison with other local and even international banks. Hence, it gives the bank a capability and flexibility in tolerating any losses.