Kuwait's Burgan Bank, a unit of investment firm Kuwait Projects Co (Kicpo), posted a 34 per cent increase in third-quarter net profit.

Net profit for the three months to Sept. 30 amounted to 19.36 million dinars ($72.29 million), or 20.5 fils per share, after 14.47 million dinars, or 15.3 fils per share, in the same period a year ago, the lender said in a statement on the bourse website on Wednesday.

The lender, which has no foreign operations, gave no explanation for the profit rise. - Reuters