Commercial Bank of Kuwait (CBK) posted a 90.8 per cent fall in first-quarter net profit, it said on Sunday.

Net profit in the first three months to March 31 came in at KD3.14 million ($10.77 million) compared with KD34.1 million in the same period a year earlier, CBK said on Kuwait's bourse website.

It did not give a reason for the decline nor did it say if it booked any provisions in the first-quarter. Analysts at EFG-Hermes expected net profit of KD24 million, according to a Reuters survey in April.-Reuters