Kuwait Commercial Bank's Net Profit Rises by 13%

The Kuwait Commercial Bank announced today, Monday, a 12.8% increase in its profits, reaching $81.89 million in the first quarter of 2023 compared to 22.23 million dinars in the same period last year. The bank noted in a statement to the Kuwait Stock Exchange that "the rise in profits is primarily due to an increase in interest income, fee income, and net profit from foreign exchange transactions, which partially offset the increase in provisions and operational expenses."