Kuwaiti bank KFH Q2 net profit rises 6.4pc, misses estimates

July 21, 2014 - 12:29:59 pm

KUWAIT: Kuwait Finance House (KFH), the country's biggest Islamic lender, reported a 6.4 percent rise in second-quarter net profit on Monday, slightly below analysts' estimates.

Net profit rose to 28.51 million dinars ($101 million) in the three months to June 30 from 26.8 million dinars in the same period a year ago, according to Reuters calculations.

That compared with the analysts' average forecast of 29.2 million dinars 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 54.57 million dinars, up 10 pct year-on-year, it said in a statement.

Total assets gained 11 percent year-on-year to stand at 16.7 billion dinars on June 30, while deposits rose 4 percent over the same timeframe to 10.7 billion dinars. (Reuters)