Dubai: Kuwait Finance House (KFH) , the country’s biggest Islamic lender, reported a 10 per cent fall in third-quarter net profit on Thursday, in line with analysts’ forecasts.
Net profit dropped to 35.5 million dinars (Dh451 million, $122.7 million) in the three months to the end of September from 39.3 million dinars in the same period a year ago, the lender said in a bourse filing.
That compared with analysts’ average forecast of 35.2 million dinars in a Reuters poll of four analysts.
The bank appointed Mazen Sa’ad Ali Al Nahed, former head of consumer banking at National Bank of Kuwait, as chief executive with effect from October 1, it said last month.
