January 20, 2022

The cost of risk in Kuwait banks…Improved


– 84 million dinars expected quarterly profits for “NBK” and 66 for “KFH”

The financial group “EFG-Hermes” reported that, according to its estimates of the financial results for the fourth quarter of 2021, the growth of loans in Kuwaiti banks will reach 7% on an annual basis, and 0.9% on a quarterly basis, likely to improve the cost of risks in the banking sector on the annual basis.

loans and income

As for each bank separately, “Hermes” expected that the loan growth in “NBK” during the last quarter of 2021 will reach about 9 percent on an annual basis, 5.7 percent in “KFH”, and 13.6 percent in “Boubyan”. 7.5 percent in “Gulf”, 6.8 percent in “KIB”, 1.8 percent in “Burgan”, and 0.8 percent in “Warba”, and it is likely that there will be no change in Commercial in the quarter. The latter on an annual basis.

With regard to revenues, “Hermes” expected that “NBK” would achieve 233 million dinars for the fourth quarter of 2021, a growth of 11 percent on an annual basis and 2 percent on a quarterly basis, and that “KFH” will record revenues of about 208 million, a growth of 20 percent over On an annual basis and 9 percent on a quarterly basis, “Al-Tijari” 34 million, down 3 percent on an annual basis, with a growth of 8 percent on a quarterly basis, and “Burgan” 52 million, with a growth of 9 percent on an annual basis, down by 4 percent on a quarterly basis. And «Gulf» 41 million, down 3 percent on an annual basis and 4 percent on a quarterly basis, and “Boubyan” 48 million, with a growth of 15 percent on an annual basis without recording any increase or decrease on a quarterly basis, and 17 million for “KIB”. With a growth of 20 percent on an annual basis and 7 percent on a quarterly basis, and 20 million for Warba, a decline of 36 percent on an annual basis and 23 percent on a quarterly basis.

Quarterly earnings

In terms of profits, “Hermes” expected that “NBK” would achieve 84 million dinars for the fourth quarter of 2021, with a growth of 8% on an annual basis, and “KFH” 66 million dinars, with a growth of 41 percent on an annual basis, and “Burgan” 15 million with a growth 1237 percent compared to the same quarter of 2020, “Al Khaleej” 10 million, “Boubyan” 11 million, “KIB” about 2 million, and “Warba” 4 million dinars.

Leave a Reply

Your email address will not be published. Required fields are marked *