NBK'S profit surges 7.2% to $238.2m

National Bank of Kuwait, the emirate's largest lender, said Sunday its second quarter net profit rose 7.2 percent on the back of strong growth in main banking activities.
NBK reported a net profit of 71.7 million dinars ($238.2 million) in the April to June quarter compared with 66.9 million dinars in the corresponding period of 2015.
First-half net profit dropped 7.8 percent, however, to $500.3 million from $542.9 million a year ago.
NBK said first-half profit last year included one-off gains of $75 million resulting from the sale of a 30-percent stake in the International Bank of Qatar.
Chairman Nasser Al-Sayer said the results were achieved thanks to "solid growth in the real banking activities."
The bank has around 170 branches in several Arab cities, as well as further afield, including New York, London, Paris and Geneva.

Source: Arab News