Title: Kuwaiti Bank "Burgan" Sees 38% Decline in Profits

The financial results announced by "Burgan Bank" today, Tuesday, showed a 38% drop in net profits, reaching 7.57 million dinars (24.70 million dollars) in the first quarter of 2023 compared to 12.126 million dinars a year earlier. The bank attributed this decline in a statement to the Kuwait Stock Exchange to "the implementation of accounting standard No. 29 on interim condensed consolidated financial information related to increased inflation operations, especially concerning our activities in Turkey, which was not applied in the comparative period."