Profits of the National Bank of Kuwait hit $1.2bn in 2021

RIYADH: The National Bank of Kuwait, known as NBK, recorded a 47 percent jump in profits in 2021, reaching 362 million Kuwaiti dinars ($1.2 billion).

The bank attributed the hike in profits to higher net operating income, which was up over 3 percent to 547 million Kuwaiti dinars, as well as lower provision charges for credit and impairment losses.

The bank recommended cash dividends of 30 fils ($555) per share for the fiscal year 2021, it said in a statement to the Kuwaiti bourse.

Shareholders will also receive five bonus shares for every 100 shares, the statement revealed.