National Bank of Kuwait, the country’s largest commercial lender, reported a net profit of KD57.9 million ($197.2 million) in the fourth quarter of 2014, compared to KD39.6 million a year ago, marking an increase of 46.4 per cent.

EFG Hermes had forecast the bank would report a net profit of KD60.2 million in the period, while Global Investment House had forecast a net profit of KD 88.3 million during the period.

Net profit for 2014 was KD261.8 million, compared to KD238.1 million in 2013, the bank said.

The bank also said its board had recommended a cash dividend of 30 fils per share and five percent bonus shares for 2014. This is in line with the dividend paid out for 2013. – Reuters