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Sun 27 Jun 2010 10:20 AM

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Kuwait Finance House to post improved Q2 results

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

Kuwait Finance House to post improved Q2 results
DINAR DRIVE: KFH posted a net profit of 30.9 million dinars ($106 million) in the first quarter of 2010. (Getty Images)

Kuwait Finance House (KFH) is expected to post better results in the second-quarter compared to the first quarter of 2010, its chairman was quoted as saying on Sunday.

The country's biggest Islamic lender posted a net profit of 30.9 million dinars ($106 million) in the first quarter of 2010, down 21.4 percent from the year earlier period.

The lender is currently executing projects in Saudi Arabia that exceed 100 million dinars, KFH Chairman Bader al-Mukhaizeem told local daily newspaper al-Watan.

Besides Saudi Arabia, KFH is currently focusing its operations on the markets of the United Arab Emirates, Qatar and Oman, he added. (Reuters)

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