We noticed you're blocking ads.

Keep supporting great journalism by turning off your ad blocker.

Questions about why you are seeing this? Contact us

Font Size

- Aa +

Mon 21 Jul 2014 01:30 PM

Font Size

- Aa +

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

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

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

Kuwait Finance House (KFH) , the country's biggest Islamic lender, reported a 6.4 percent rise in second-quarter net profit on Monday, slightly below analysts' estimates.

Net profit rose to KD28.51 million ($101 million) in the three months to June 30 from KD26.8 million in the same period a year ago, according to Reuters calculations.

That compared with the analysts' average forecast of KD29.2 million in a Reuters poll.

KFH didn't give a quarterly breakdown so Reuters calculated the figure based on financial statements.

The firm's first-half net profit was KD54.57 million, up 10 pct year-on-year, it said in a statement.

Total assets gained 11 percent year-on-year to stand at KD16.7 billion on June 30, while deposits rose 4 percent over the same timeframe to KD10.7 billion.

Arabian Business: why we're going behind a paywall

For all the latest banking and finance news from the UAE and Gulf countries, follow us on Twitter and Linkedin, like us on Facebook and subscribe to our YouTube page, which is updated daily.