Kuwait's Burgan Bank Q1 net profit up 10 pct

KUWAIT Sun May 11, 2014 10:13am EDT

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KUWAIT May 11 (Reuters) - Burgan Bank, Kuwait's third-largest lender by assets, reported a 10 percent increase in first-quarter net profit on Sunday, beating analyst estimates.

Burgan, a unit of Kuwait Projects Co (KIPCO), made a net profit of 17.1 million dinars ($60.8 million) in the three months to the end of March, compared to 15.6 million in the same period a year ago, it said in a statement.

Five analysts in a Reuters survey estimated an average net profit of 16.07 million dinars for the first quarter. ($1 = 0.2813 Kuwaiti Dinars) (Reporting by Sylvia Westall; Editing by David French)

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