⁍ NBK’s posted a net profit of 57.6 million dinar ($188.54 million) for the period ended September 30, down from 93.1 million dinars in the same period a year earlier.
⁍ The International Monetary Fund expects Kuwait’s economy to contract by 8.1% this year.
– The International Monetary Fund expects Kuwait’s economy to contract by 8.1% this year, as it warned the economic outlook was worsening for many emerging markets amid the coronavirus crisis. National Bank of Kuwait, the country’s biggest lender, on Monday reported a 38% drop in third-quarter net profit, hit by higher provisioning for bad debt and the slowdown caused by the coronavirus pandemic, reports Reuters.
Source: https://www.reuters.com/article/nbk-results-int/national-bank-of-kuwaits-third-quarter-net-profit-drops-38-on-bad-debt-provisioning-idUSKBN27B0FT