Boubyan Bank

Quarterly Result Update
1. Net profit rose 30.4% to KWD 2.11 million from KWD 1.62 million.
2. The operating income of KWD was 15.46 million during 1Q11, increasing 40.7% from KWD 10.99 million in 1Q10.
3. The FY2011E total operating income is revised upwards by 20.1% anticipating higher non-financing income. Accordingly, the net profit estimate stands 13.7% higher.

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