National Bank of Kuwait NBK’s Q4 net profit rises 5.4% to $266.3m

Dubai: National Bank of Kuwait (NBK), the Gulf Arab state’s largest commercial lender, reported a 5.4 per cent rise in fourth-quarter net profit, in line with analysts’ forecasts, according to Reuters calculations.

The bank made a net profit of 80 million dinars ($266.3 million; Dh976.49 million) in the three months to December 31, compared with 75.9 million dinars a year earlier, Reuters calculated based on annual financial statements in lieu of a quarterly breakdown.

The average forecast of three analysts polled by Reuters was for a quarterly net profit of 83 million dinars. For the full year, NBK’s net profit rose by 9.2 per cent from the year before to 322.4 million dinars.