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Kuwait's Boubyan says nine-month income rose 11%
- Kuwait: Monday, October 15 - 2012 at 01:27
Kuwaiti lender Boubyan Bank has posted an 11% jump in its third-quarter net profit to KD7.6m, compared with KD6.9m for the same period of last year, Arab Times has reported. The bank's chairman, Adel Abdul-Wahab Al-Majed said the increase was due to NBK's entry as a major stakeholder in 2009, then the increase of its stake up to 58%, resulting in Boubyan's joining the NBK Group. Total assets at the end of the quarter climbed by21% year-on-year to KD1.8bn, he said.
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