Mubasher: Kuwait Finance House (KFH) achieved an increase of 19.03% in earnings during the second quarter of 2018 compared to the same period in the prior year.
Earnings grew to KWD 51.25 million ($169.42 million) in Q2-18 from KWD 43.05 million ($142.31 million) in Q2-17, according to a bourse statement on Monday.
During the first six months of 2018, KFH recorded an increase of 16.6% in profits to KWD 95.2 million from KWD 81.6 million in the same period a year ago.
The bank clarified that the increase in H1 profits is attributed to a rise of 17.7% in net operating revenues due to higher financing revenue by 31.8%.
Total assets registered by the end of June 2018 increased by 2.7% to KWD 17.6 billion compared to KWD 17.2 billion in H1-17.
KFH’s operating profits grew by 17.7% to KWD 235.8 million in H1-18 compared to KWD 200.3 million in H1-17.
At the stock level, KFH added 0.49% to reach 610 fils by 10:20 am Kuwait time on Monday.
