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Wednesday , March 3 2021

Bank’s total revenues up to end of first half is KD 46.22 million

KUWAIT CITY, Nov 3: The Credit Bank’s second quarterly financial report for the fiscal year 2019/2020 revealed that the bank’s total revenues up to the end of the first half amounted to KD 46.22 million, a 48 percent collection of the estimated fiscal year, including KD 37.8 million of total mortgage income collected until the end of last September or 46 percent of the estimated budget, reports Al-Rai daily.

The report pointed out that the disbursement on the third chapter (construction projects) in the bank decreased by 11 percent during the second quarter compared to the approved expenses, and the decrease in spending on bond interest by 6 percent, amounting to 10 million dinars, due to nonmaturity of the total interest on bonds of Kuwait Fund for Arab Economic Development at the end of the fiscal year.

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