IslamicFinance.de

Kuwait’s Warba Bank achieved net profit of KD1.251 million ($4.12 million) in the third quarter (Q3) of the year compared to KD318,000 for the same period in 2014. The bank’s total assets grew by 34 per cent reaching KD682.760 million compared to KD507.140 million as on 30 September 2014.
The bank’s financing portfolio grew by 42 per cent reaching KD492.386 million by the end of the third quarter 2015 compared to KD346.747 million for the same period last year.

Emad Abdullah Al Thaqeb, chairman of Warba Bank, said: “Warba Bank’s strong performance continues to the third quarter with growth ascending trend reflecting the bank’s solid financial position, successful and flexible strategy that adapts to accelerating economic and legislative recent changes despite the ongoing political and security turbulences in the region.”