Kuwait's Boubyan Bank net profit rose 9.7% year-on-year in the second quarter of this year to 28.3 million dinars, exceeding analysts' average expectations of 24.5 million dinars.

During the six months, the bank's net profit reached 54.7 million dinars, an increase of 4.6% year-on-year.

The bank attributed the profit growth for the six-month period to an increase in net financing income and investment income, along with an increase in fee and commission income.

Boubyan Bank's profits had declined in the first quarter of this year to 26.40 million dinars, a decrease of 0.3%, but the profits came in better than expectations of 24 million dinars.

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