Commercial Bank of Kuwait (CBK) is expected to post a "very slight profit" in the first quarter of 2010, its chairman said on Sunday.

The country's third largest lender will continue with its conservative approach in 2010, but expects see profit growth in  the second half of the year, Abdulmajeed Al-Shatti told Reuters.

"By the second half of this year, the bank will come back in growth in profit," he said.

Al-Shatti said the lender has no plans for expansion this year and will concentrate on the local market. The lender made a net profit of 152,000 dinars in 2009, it said on Sunday. - Reuters