CBK posts over $71m Q4 profit
Kuwait City, February 23, 2011
Commercial Bank of Kuwait’s (CBK) has posted a net profit of KD20 million ($71.53m) for the fourth quarter of 2010, up from KD1.85 million for the same period in the previous year.
Analysts had forecast the lender to post a net profit of KD10.5 million dinars for the fourth-quarter, according to a report in our sister publication, the Gulf Daily News.
The lender reported net profit of 20.5 million dinars in the nine months to September 30. Net profit in 2010 came in at 40.5 million dinars, from 146,000 dinars in 2009, the lender said in a statement. – TradeArabia News Service
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