Dubai (Zawya Dow Jones): National Bank of Kuwait (NBK), the country's biggest lender by market value, on Monday posted a 4 per cent jump in 2009 net profit to $925 million (Dh3.3 billion), from $890 million in the year earlier.
The company, in an email statement, said operating income in the year under review grew by 2 per cent to $1.8 billion, from a year ago.
"The increase in our operating income provides strong reassurance as to our ability to continue delivering strong results from our core businesses inside and outside of Kuwait," chief executive Ebrahim Dabdoub said in the statement.
Total assets at the end of 2009 stood at $45 billion, a 7.8 per cent increase on 2008. NBK said its board of directors recommended the distribution of a cash dividend equivalent 40 fils a share. It also recommended a bonus share distribution of 10 shares for every 100 shares owned to shareholders of record at the time of the General Assembly meeting.
NBK shares closed yesterday 3.8 per cent higher at 1.1 Kuwaiti dinars in a marginally lower market.
