Kuwait Finance House Q2 net profit up 13.3%, meets forecasts
Net profit rose to $121m in the three months to the end of June
Dubai: Kuwait Finance House (KFH), the country’s biggest Islamic lender, reported a 13.3 per cent rise in second-quarter net profit according to a statement on Tuesday, broadly in line with analysts’ forecasts.
Net profit rose to 36.77 million dinars ($121.59 million) in the three months to the end of June, from 32.45 million dinars in the same period a year ago, the statement said.
Three analysts polled by Reuters had forecast the lender would make a quarterly net profit of 36.06 million dinars.
The results were boosted by higher finance income, which rose to 176.04 million dinars in the quarter, from 164.76 million dinars in the same period of last year. Investment income and fee and commission income also climbed over the same time frame.
