(Corrects cash dividend to 0.03 dinars from 0.3 dinars in para
DUBAI Jan 22 National Bank of Kuwait,
the Gulf Arab state's largest commercial lender, widely missed
analysts' expectations as it posted a 48 percent drop in
fourth-quarter net profit, Reuters calculated.
Net profit was $142 million in the three months to the end
of December, compared to $273 million in the same period a year
ago, Reuters calculated based on financial statements.
Three analysts in a Reuters poll had predicted 80.14 million
dinars ($283.2 million) net profit on average.
NBK reported a full-year profit for 2013 at $844 million,
down from the $1.08 billion recorded for 2012, a statement from
the bank said on Wednesday.
The bank said its board was recommending a cash dividend
worth 0.03 dinars per share and a bonus share dividend of 5
percent. This was the same as the dividend recommended for 2012.
($1 = 0.2830 Kuwaiti dinars)
(Reporting by David French; Editing by Olzhas Auyezov)