Burgan Bank S.A.K.P. Reports Consolidated Earnings Results for the Second Quarter of the Six Months Period Ended June 30, 2014
July 22, 2014
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Burgan Bank S.A.K.P. reported consolidated earnings results for the second quarter of the six months period ended June 30, 2014. For the quarter, the company reported net profit of KD 16,164,000 or 9.6 fils per share compared to KD 12,255,000 or 7.4 fils per share in the same period last year. Total operating profits were KD 68,760,000 compared to KD 70,960,000 in the same period last year. Net operating profits were KD 38,689,000 compared to KD 41,390,000 in the same period last year. Net interest income was KD 47,520,000 compared to KD 43,029,000 in the same period last year.
For the six months, the company reported net profit of KD 33,309,000 or 20.0 fils per share compared to KD 27,885,000 or 16.9 fils per share in the same period last year. Total operating profits were KD 130,472,000 compared to KD 126,974,000 in the same period last year. Net operating profits were KD 72,752,000 compared to KD 71,182,000 in the same period last year. Net interest income was KD 89,148,000 compared to KD 78,072,000 in the same period last year. The reason for the increase in net profit is due to increase in interest income due to growth in volume of operations.
Burgan Bank KPSC is a Kuwait-based entity which is primarily engaged in banking and investment services to individuals and corporations. The Bank is organized into four business segments which includes corporate banking segment provides comprehensive product and services to corporate customers and financial institutions including lending, deposits, trade services, foreign exchange, advisory services; Retail and Private banking segment provides wide range of products and services to retail and private bank customers including loans, deposits, credit and debit cards, foreign exchange; Treasury and investment banking segment includes treasury activities, investment services and management. It also provides products and services to banks including money markets, lending, deposits, foreign exchange; Central office segment includes liquidity and funding management, any residual in respect of transfer pricing and other unallocated activities.
BURGAN BANK K.P.S.C. 
