Burgan Bank Group announced earnings results for the third quarter and first nine months of financial year 2017. For the first nine months and compared to the same period last year, reported net income grew by 11% reaching KWD 53.9 million (USD 177.5 million) from KWD 48.6 million. Underlying net income (excluding precautionary reserves & after AT1 cost) grew by 5% reaching KWD 58.7 million (USD 193.3 million). Earnings per share grew by 14% to 20.1 fils from 17.7 fils reported last year. Return on equity stands at 11.2% while Return on tangible equity (ROTE) stands at 12%. Group's operating income which grew by 6% year on year to reach KWD 179.3 million (USD 590.8 million). For the third quarter, the company recorded an underlying net income (excluding precautionary reserves & after AT1 cost) of KWD 17.3 million (USD 57.4 million). The net income as reported for third quarter is KWD 15 million (USD 49.8 million) after the booking of KWD 5 million in precautionary reserves.