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KFH Q2 profit rises 6.4pc, misses estimates

Dubai, July 22, 2014

Kuwait Finance House (KFH) , the country's biggest Islamic lender, reported a 6.4 per cent 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 per cent year-on-year, it said in a statement.
 
Total assets gained 11 per cent year-on-year to stand at KD16.7 billion on June 30, while deposits rose four per cent over the same timeframe to KD10.7 billion. - Reuters



Tags: KFH | profit | rise |

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