Kuwait Finance House’s fourth-quarter net profit flat

Dubai: Kuwait Finance House (KFH), the country’s biggest Islamic lender, reported flat fourth-quarter net profit, according to Reuters calculations based on the bank’s annual results.

Net profit was 46.3 million dinars ($154.6 million) in the three months to December 31, from 46.6 million dinars in the same period a year ago, Reuters calculated based on annual results published by the company which do not give a quarterly breakdown.

For the full year, the bank reported an 11.5 per cent rise in net profit to 184.2 million dinars, citing an 8.1 per cent rise in net financing income, fees and commission income, investment and other income.