KUWAIT CITY, Oct 17, (APP/AFP) – National Bank of Kuwait, the emirate’s largest lender, said on Monday its third quarter net profit rose 6.5 percent mainly thanks to growing public spending despite low oil revenues. The bank posted a net profit of 68.7 million dinars ($227.5 million) for July to September this year compared to 64.5 million dinars ($213.6 million) for the same period in 2015, NBK said in a statement. NBK chairman Nasser al-Sayer attributed the rise to an increase in public spending in the oil-rich Gulf state despite low oil revenues.
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Kuwait’s NBK net profit rises 6.5% in Q3
