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Kuwait's Commercial Bank swings to Q2 profit

Kuwait, July 27, 2010

Commercial Bank of Kuwait (CBK) posted a KD2.3 million ($7.98 million) net profit for the second-quarter, compared with a net loss of KD2.3 million a year ago.

Net profit for the first half came in at 890,000 dinars, the country's third biggest lender by market value said in a statement to the Kuwaiti bourse website on Tuesday.

Analysts at EFG-Hermes had expected CBK to post a second quarter net profit of 1 million dinars, according to a survey.-Reuters

Tags: Commercial Bank of Kuwait |

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