The share of Boubyan Bank, listed on the Kuwait Stock Exchange, increased by 1.45% during trading today, Wednesday, to circulate at the price of 704 money per share, achieving its highest price in 30 months.
3.65 million shares of Boubyan Bank were traded at that time, with a value of trading 2.57 million dinars.
The highest price for the share at that time was at 710 money, while the lowest price was at 694 fils, to touch the highest price in two years, 6 months and 20 days.
Boubyan Bank recorded an annual growth of 6% in its profits for the first quarter of 2025, supported by an increase in operational revenue.
The bank achieved a net profit of 26.48 million Kuwaiti dinars during the first three months of this year, compared to 24.99 million dinars in the same period in 2024.
The statement pointed out that this growth is mainly due to the increase in the net financing revenues of 2.63 million dinars, and the increase in the net investment revenues by 211.64 thousand dinars, in addition to the growth of the net fees and commissions revenues by about 647.44 thousand dinars.
It also contributed to supporting profits, decreasing allocations for a decrease in value by 2.52 million dinars, despite registering an increase in operational expenses by 683.54 thousand dinars, and the increase in the value of taxes by 3.19 million dinars.
It is noteworthy that the total operational revenues of the bank increased by 6% during the first quarter of 2025 to 65.41 million dinars, and the total bank’s assets grew by 12% to 9.72 billion dinars.
The Boubyan Bank had finished in 2024 with net profits of 96.8 million Kuwaiti dinars, achieving annual growth by 20% compared to 2023.
