Emad Al Thaqeb and Jassar Al Jassar
Warba bank posts profit
Kuwait, July 23, 2014
Warba Bank has achieved a net profit of KD43,000 ($152,137) by the end of the second quarter 2014 compared to a loss of KD2.141 million for the same period in 2013.
The bank's financial statement indicates that the bank has achieved operating revenues of KD8 million by the end of the second quarter compared to KD5 million for the same period in 2013, signifying an increase of about 62.6 per cent.
Emad Al Thaqeb, board chairman, said: “The bank continues its strategy that aims at expanding the business base to provide excellent services to the bank’s corporate and retail customers."
Jassar D Al Jassar, vice chairman of the board and chief executive officer, confirmed that one of the most positive indicators of the bank’s growing activities is the growth of the financing portfolio from KD304 million at the end of the first half of 2014 as compared to KD156 million by the end of the first half of 2013, representing a growth rate of 95 per cent.- TradeArabia News Service