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Kuwait’s Commercial Bank swings to profit in Q2

Net profit for the first half came in at 890,000 dinars.

July 27, 2010 12:04 by



Commercial Bank of Kuwait (CBK) posted a 2.3 million dinars ($7.98 million) net profit for the second-quarter, compared with a net loss of 2.3 million dinars a year ago.

Net profit for the first half came in at 890,000 dinars, the country’s third biggest lender by market value said in a statement to the Kuwaiti bourse website on Tuesday. Analysts at EFG-Hermes had expected CBK to post a second quarter net profit of 1 million dinars, according to a Reuters survey.



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