Mubasher: The financial statements of Kuwait Finance House (KFH) reported a growth of 4.95% in profits during the fourth quarter of 2016 as compared to the same period a year ago.
Earnings increased to KWD 42.13 million ($137.72 million) in Q4-16 from KWD 40.14 million ($131.23 million) in Q4-15, according to bourse statement issued on Tuesday.
During the fiscal year of 2016, profits rose by 13.3% to KWD 165.23 million from KWD 145.84 million in FY15.
The growth in profits resulted from higher finance revenues by 3%, lower investment revenues by 27%, and an 11% decrease in overall operating expenses, the statement added.
The board has recommended a cash dividend of 17% or 17 fils per share, with a nominal value of KWD 2.03 million.
