The Banking Executive Magazine - April 2023 Issue

AL AHLI BANK OF KUWAIT GROUP Q1 ACHIEVES 30% NET PROFIT GROWTH Al Ahli Bank of Kuwait (ABK) re- cently announced its financial results for the first quarter (Q1) for the fiscal year 2023. ABK reported a Net Profit of KD 10.8 million compared to KD 8.3 million in the same period in 2022, reflecting a 30% increase. Net Operating Profit rose by 5% to KD 22.3 million, and Earnings per Share stood at 4 fils compared to 3 fils in the previous year. ABK reported Total Assets of KD 6.1 billion, Customer Deposits of KD 4.1 billion, and ABK’s loan portfolio to- taled KD 4 billion. The Non-Perform- ing Loan (NPL) ratio stood at 1.45% and NPL Coverage at 365%. Further- more, the Capital Adequacy Ratio (CAR) reached 15.59% and Share- holders’ Equity KD 487 million. Al Ahli Bank the BANKING EXECUTIVE 32 ISSUE 172 APRIL 2023