Kuwait International bank posts dinar 5m profits for Q1

Kuwait International Bank (KIB) announced KD 5 million profits of 5.39 fils per share for the first quarter of 2014 compared to KD 4.24 million and 4.55 fils per share a year prior. The total shareholders' equity for the first three months of the year ending in March is KD 223.2 million compared to KD 213.5 million, announced the bank which operates under the Islamic Sharia in its dealings on the website of the Kuwait Stock Exchange. As for its total assets, the bank recorded KD 1.5 billion with liabilities of KD 1.27 billion compared to KD 1 billion. KIB was founded in 1973 and began being listed in the Kuwait Stock Exchange 11 years later with a paid up capital of around KD 103 billion.