{"id":71434,"date":"2022-08-06T00:00:00","date_gmt":"2022-08-06T00:00:00","guid":{"rendered":"http:\/\/kuwaitnewsgazette.com\/?guid=201c3b18f46b1552a82345e68693afbf"},"modified":"2022-08-06T00:00:00","modified_gmt":"2022-08-06T00:00:00","slug":"al-tijari-posts-net-profits-of-kd-44-mln-in-h1-22","status":"publish","type":"post","link":"https:\/\/kuwaitnewsgazette.com\/al-tijari-posts-net-profits-of-kd-44-mln-in-h1-22\/","title":{"rendered":"Al-Tijari posts net profits of KD 44 mln in H1-’22"},"content":{"rendered":"
The Commercial Bank of Kuwait (Al-Tijari) on Saturday announced net profits of KD 44 million (nearly USD 145 million) for the first half of 2022 and distributed dividends to shareholders at a rate of 22.2 fils per share.<\/p>\n
The Bank’s operating revenues before provision rose by 1.9 percent to KD 65.3 million (some USD 215.5 million) in H1-2022 from KD 64.1 million (USD 211.5 million) in the corresponding period last year, according to a press release from the Bank.<\/p>\n
The aggregate value of assets grew by 4.4 percent to KD 4.3 billion (USD 14 billion) while the Bank’s capital adequacy rate went up to 18.4 percent.<\/p>\n
Hailing the H1-2022 financial results, Chairman of Al-Tijari Sheikh Ahmad Duaij Al Sabah attributed the robust performance to the improvement of the business environment.<\/p>\n
The Bank was able to retrieve KD 12.3 million (USD 40.6 million) of the loan losses in the first half of the year, he noted.<\/p>\n
Sheikh Ahmad Duaij expressed optimism about a bright outlook for the banking sector amid forecasts of 8.5 percent growth rate for Kuwait’s GDP. <\/p>\n<\/p>\n
Source: Kuwait News Agency<\/p><\/p>\n","protected":false},"excerpt":{"rendered":"
The Commercial Bank of Kuwait (Al-Tijari) on Saturday announced net profits of KD 44 million (nearly USD 145 million) for the first half of 2022 and distributed dividends to shareholders at a rate of 22.2 fils per share.The Bank’s operating revenues b…<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"tags":[],"yoast_head":"\n