Commercial Bank of Kuwait (CBK) is counting on boosting non-interest income to maintain its profit this year, which will be affected by low oil prices and tightening of liquidity in the banking sector. Elham Mahfouz, CBK’s CEO, said that the bank’s earnings “will be nearly the same [as in 2015]". She added that “the first quarter looks fine compared to the first quarter of 2015. The change of the structure of the business we have in the balance sheet has helped to improve income." Last year, the bank’s net income dipped 6% to KWD46.18 million from KWD49.12 million a year earlier. “The business change is concentrating on the fees and commission especially with the projects we have in Kuwait," Mahfouz further stated. “We have increased the non-cash facilities and we participated in many projects in Kuwait under the development plans, which enhanced the fees and commissions." The bank has been trying to reduce costs through the use of technology, she said, and its cost-to-income ratio of 28% will help earnings. Ms Mahfouz said that she expects loan growth at the bank to average 5% to 7% this year as the economy slows down.- (The National)