Burgan Bank K.P.S.C. announced earnings results for the first quarter of financial year 2016. During the first quarter, underlying net income (net income excluding precautionary provisions) reached KD 19.1 million despite complex regional operating environment. Reported net income for the first quarter attributed to equity holders of the bank is KD 14.3 million and earnings per share is 4.4 fils. During the first quarter and compared to the same period last year, net interest income grew 7.4% to reach KD 40.6 million from KD 37.8 million reported. Non-interest income dropped mainly due to the reduction in net gains from foreign currencies which dropped to KD 1.7 million from KD 7.7 million. As a result, operating income and operating profit before provisions remained flat and reported at KD 57.1 million and KD 30.2 million respectively.