Kuwait Finance House (KFH) the country's biggest Islamic lender's Chairman Sameer Al-Nafisi announced that KFH achieved gross profits during first half (H1) of this year that reached 120.8 million Kuwaiti dinars, and shareholders' share in profit reached KD 45.5 million.
Earnings per share reached 17.1 Kuwaiti fils during H1 of 2011. Assets reached KD 12.9 billion with an increase of KD 945 million with eight percent increase over the same period last year. Deposits reached KD 8.4 billion with a KD 1.030 billion increase and 14 percent increase over the same period last year.
Shareholders' equity reached KD 1.267 billion, with an increase of KD 23 million and two percent over same period last year.
He stressed that the achieved profits reflect the conservative policy that aims to reinforce precautionary provisions, and highlighted KFH's efforts to reinforce its financial status and to maintain steady growth and balanced performance in all businesses.
The company said second-quarter (Q2) net profit fell 43 percent, missing forecasts for the fourth consecutive quarter, as the company set aside more money to meet investment losses.
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