Kuwait International Bank (KIB) said Thursday it signed an agreement to sell a property worth KWD 8 million, according to a bourse statement.

The Kuwaiti lender achieved returns of KWD 1.73 million from this sale, which will be reflected on its financial statements for the second quarter of 2015.

KIB reported net profits of KWD 13.7 million for 2014, up 4% compared to figures from a year earlier. Earnings per share reached 14.65 fils in 2014, comparing to 14.15 fils in 2013.