KUWAIT CITY: Total operating revenue was up four per cent to KWD 46,632,656 but net operating revenue was down four per cent to KWD 24,639,771. Total assets were up five per cent to KWD 1,832,864,492 while total liabilities rose six per cent to KWD 1,582,357,197.
KIB said the increase in net profits was driven by an increase in net financing income of KWD 4,487,206 in the first nine months of the year which it attributed to growth in business volume. However, the bank also noted a decline in investment income of KWD 2,836,378 compared to the same period last year, reflecting profits from the sale of investment properties in 2015.