Kuwait Finance House - Kuwait

Established in 1977, Kuwait Finance House (KFH) is the country’s oldest and biggest Islamic lender.

However, Fitch Ratings this month downgraded the bank’s Individual Rating to ‘C/D’ from ‘C’ and placed it on Rating Watch Negative (RWN).

The ratings agency affirmed its Long-term Issuer Default Rating (IDR) at ‘A+’ and its Short-term IDR at ‘F1’.

The downgrade in KFH’s Individual Rating reflects Fitch’s concerns that the bank is highly exposed to Kuwait’s distressed investment companies, which contributed in part to the bank’s significantly higher loan impairment provisions and impaired loans for 2008.

“While the Kuwaiti sovereign support package to stabilise financial markets, approved last week, is a positive development, it is too early to judge its impact on KFH’s credit fundamentals,” said Mahin Dissanayake, Associate Director in Fitch’s Financial Institutions team.

Since the 1980s, KFH has established independent banks in Turkey, Bahrain, and Malaysia. It has also taken stakes in other Islamic banks.

KFH posted a loss of $219m in the fourth quarter as it made $723.3m in provisions to weather the global financial crisis.
More about the company
Address: KFH Building, Abdullah Al Mubarak Street PO Box 24989 , Kuwait City, KUWAIT

KFH

Joint stock

23 March 1977

Public

965 2445050

965 2455135

corp@kfh.com

www.kfh.com

Related articles

Kuwait's KFH says waiting on approval to hire new CEO

Kuwait's KFH says waiting on approval to hire new CEO

Wednesday, 13 August 2014 1:21 PM

Kuwait Finance House awaits regulatory nod to hire ex-head of consumer banking at National Bank of Kuwait

Kuwait's KFH reports 6.4% rise in Q2 net profit

Kuwait's KFH reports 6.4% rise in Q2 net profit

Monday, 21 July 2014 1:30 PM

Kuwait Finance House, the country's biggest Islamic lender, posts $101m profit in three months to June 30

Kuwait Finance House says CEO to retire from May 1 - bourse statement

Kuwait Finance House says CEO to retire from May 1 - bourse statement

Sunday, 27 April 2014 3:05 PM

Mohammed Al Omar has asked to resign and will retire from the beginning of next month

Kuwait Finance House CEO said to step down

Kuwait Finance House CEO said to step down

Thursday, 24 April 2014 2:23 PM

Sources say Mohammed al-Omar's resignation as CEO is linked to wider management changes

Kuwait's KFH reports 13% rise in Q1 net profit

Kuwait's KFH reports 13% rise in Q1 net profit

Saturday, 19 April 2014 7:01 PM

Country's biggest Islamic lender also says it wants to expand operations in Turkey and neighbouring markets

Kuwait's KFH more than doubles Q4 net profit

Kuwait's KFH more than doubles Q4 net profit

Monday, 3 February 2014 6:03 PM

Kuwait Finance House makes nearly $95m net profit in the three months to December 31

Kuwait's KFH to suspend ATM cards amid data overhaul

Kuwait's KFH to suspend ATM cards amid data overhaul

Sunday, 12 January 2014 10:48 AM

Customers have one week to update their data or face having bank cards suspended

Kuwait's KFH posts 21% rise in Q2 net profit

Kuwait's KFH posts 21% rise in Q2 net profit

Tuesday, 30 July 2013 2:24 PM

Kuwait Finance House, Gulf state's biggest Islamic lender, announces $362m of provisions

Kuwait's KFH says $296m debt case settled

Kuwait's KFH says $296m debt case settled

Monday, 1 July 2013 2:00 PM

Islamic lender Kuwait Finance House says customer debt issue has been resolved

Kuwait's KFH says 20% capital rise oversubscribed

Kuwait's KFH says 20% capital rise oversubscribed

Thursday, 20 June 2013 10:21 AM

Kuwait Finance House reports strong demand from shareholders for capital increase move

Kuwait's KFH set to launch $223m capital increase

Kuwait's KFH set to launch $223m capital increase

Sunday, 2 June 2013 6:24 PM

Kuwait Finance House eyes plan to fund bank's expansion, strengthen balance sheet

Kuwait inflation falls to 42-month low - study

Kuwait inflation falls to 42-month low - study

Monday, 6 May 2013 2:09 PM

KFH-Research report says drops in housing costs and utility bills have driven decline

Kuwaiti banks upset over lack of investment opportunities

Kuwaiti banks upset over lack of investment opportunities

Wednesday, 10 April 2013 8:44 AM

Lack of gov't projects leave liquidity-rich lenders with little options for investment, say bankers

Kuwait Finance House consolidates real estate assets

Kuwait Finance House consolidates real estate assets

Tuesday, 12 March 2013 12:35 PM

Islamic lender’s real estate assets to be handled by new entity as part of restructuring

Qatar's World Cup spend seen at $130bn

Qatar's World Cup spend seen at $130bn

Tuesday, 16 October 2012 5:06 PM

New report says 2022 preparations already influencing economic developments

Kuwait's KFH inks $42.5m Canada property deal

Kuwait's KFH inks $42.5m Canada property deal

Monday, 14 May 2012 6:10 PM

Kuwait Finance House acquires 146-unit residential development in Ottawa

Kuwait Finance House to sell, merge assets - KUNA

Kuwait Finance House to sell, merge assets - KUNA

Tuesday, 27 March 2012 12:03 PM

Islamic bank will shuffle top mgmt and sell, merger unprofitable assets

Kuwait Finance House reports strong increase in revenues

Kuwait Finance House reports strong increase in revenues

Thursday, 16 February 2012 2:26 PM

Shareholders granted 15% cash dividends and 8% bonus shares

Global sukuk issuance rockets to $85bn in 2011

Global sukuk issuance rockets to $85bn in 2011

Friday, 13 January 2012 3:31 PM

Kuwait Finance House research report says figure represents 90% rise on 2010

DFM weighs on Dubai; Qatar slips ahead of earnings

DFM weighs on Dubai; Qatar slips ahead of earnings

Sunday, 8 January 2012 11:11 AM

SABIC and Mobily offer main supports as Saudi index reaches five-month closing high


Related searches

Bahrain's Gulf Finance House gets $105m facility from Kuwait Finance

Wednesday, 27 August 2014 10:40 AM

Kuwait Finance House will have an option to convert its outstanding debt into GFH shares

Kuwait Finance House says CEO to retire from May 1 - bourse statement

Sunday, 27 April 2014 3:05 PM

Mohammed Al Omar has asked to resign and will retire from the beginning of next month

Kuwait Finance House CEO said to step down

Thursday, 24 April 2014 2:23 PM

Sources say Mohammed al-Omar's resignation as CEO is linked to wider management changes

Kuwait Finance House agrees 20% capital hike

Monday, 8 April 2013 10:29 AM

Shareholders back plan to help company achieve expansion both at home and abroad

Kuwait Finance House consolidates real estate assets

Tuesday, 12 March 2013 12:35 PM

Islamic lender’s real estate assets to be handled by new entity as part of restructuring

Kuwait Finance House to sell, merge assets - KUNA

Tuesday, 27 March 2012 12:03 PM

Islamic bank will shuffle top mgmt and sell, merger unprofitable assets

Kuwait Finance House reports strong increase in revenues

Thursday, 16 February 2012 2:26 PM

Shareholders granted 15% cash dividends and 8% bonus shares

Kuwait Finance House makes $96m profit from Saudi exit

Sunday, 8 January 2012 12:31 PM

Islamic bank sells off real estate project in Saudi Arabia to unnamed buyer

Kuwait Finance House sees Q2 profit plunge 43%

Monday, 18 July 2011 11:31 AM

Gulf state's biggest Islamic lender sees net profit at KD22.8m

Kuwait Finance House to invest $20m in China sewage plant

Monday, 3 January 2011 4:22 PM

KFH's $20m investment is the third from the $100m Al Fayez Fund for Private Property

Kuwait sovereign fund to resume selling stakes in local firms

Thursday, 23 October 2014 12:14 PM

Holds a 24% stake in Kuwait Finance House & owns 24.6% of telco Zain

Kuwait's KFH says waiting on approval to hire new CEO

Wednesday, 13 August 2014 1:21 PM

Kuwait Finance House awaits regulatory nod to hire ex-head of consumer banking at National Bank of Kuwait

Kuwait's KFH reports 6.4% rise in Q2 net profit

Monday, 21 July 2014 1:30 PM

Kuwait Finance House, the country's biggest Islamic lender, posts $101m profit in three months to June 30

Kuwait's KFH more than doubles Q4 net profit

Monday, 3 February 2014 6:03 PM

Kuwait Finance House makes nearly $95m net profit in the three months to December 31

Kuwait Finance House to post improved Q2 results

Sunday, 27 June 2010 10:20 AM

The lender's chairman says its results will be better than the $106m first quarter profits.


Officers »
Board of Directors Position
Bader Abdulmuhsen Al Mukhaizeem
Chairman
Sameer Yaqoub Al Nafeesi
Vice Chairman
Ali Mohammed Al Elaimi
Board Member
Adel Abdulmuhsen Al Subih
Board Member
Mohammed Al Sharif
Board Member
   
Sharia Board Position
Ahmed Bazie Al Yaseen
Chairman
Khaled Mathkour Al Mthkour
Board Member
Ajil Jassem Al Nashmi
Board Member
Mohamed Fawzi Faidullah
Board Member
Anwar Shuaib Al Abdulsalam
Board Member
   
Management Position
Bader Abdulmuhsen Al Mukhaizeem
Managing Director
Imad Abdullah Al Thakeb
Assistant General Manager - Finance
Mohammed Suleiman Al Omar
General Manager
Abdulaziz Al Jaber
Assistant General Manager - Services
Abdulnasser Al Sobaih
Assistant General Manager - Investments
View all
Major Shareholders
Name Country
Public Authority for Minors Affairs - Kuwait
Kuwait
Kuwait Awqaf Public Foundation
Kuwait
Kuwait Investment Authority
Kuwait
Most Popular
This Week's Magazine »

Cover Story

The lion's roar: Ashish J Thakkar's rise from Rwanda genocide to $1bn powerhouse
Twenty years ago the Dubai-based business tycoon watched his parents flee the Rwanda genocide having lost everything — again. Today, the company he started to help get his family back on their feet is a monstrous conglomerate in 22 African countries.

Also in this issue

Subscribe Now