Al-Ahli Bank of Kuwait posted a 13 per cent fall in third-quarter profit, the second lender in the Gulf Arab state to take a hit.
Net profit in the three months amounted to KD25.15 million ($93.95 million), or 23 fils per share, after 29.02 million dinars, or 26 fils per share, in the same period a year ago, it said in a statement on the bourse website on Tuesday.
The lender did not give a reason for the profit fall. The results came a day after National Bank of Kuwait, the country's biggest bank by assets, posted a 9.9 per cent fall in third-quarter profit as a recent slide on regional bourse weighed. Ahli's shares closed down 5.4 per cent.-Reuters