Tunisia-Kuwait bank’s profits grow by 21 pct in 1Q ’18

The net profits of Banque Tuniso-Koweitienne (Tunisia-Kuwait bank or BTK) grew by 21 percent in the first quarter of 2018, compared with the corresponding period last year.

The financial indices of the bank secured gains in the first three months of the year, the bank said in a press release on Tuesday.

The financial results of the last year were in consistency with the strategy of the bank for 2017-2010 where the risk costs dropped by 60 percent.

The deficit shrank remarkably from USD 31.9 million in 2016 to USD 15.3 percent in 2018, according to the statement.

Founded in 1980, the BTK is jointly owned by the French Groupe Caisse d’Epargne (60 percent), the Tunisian government (20 percent) and the Kuwaiti government (20 percent).

Source: Kuwait News Agency