Kuwait-Mubasher: Kuwait Finance House (KFH) said that the finance portfolio grew to KWD 8.127 billion during the fiscal year 2015.
Net finance income increased 8.1% to KWD 392.8 million in FY15 as compared to KWD 363.4 million in a year earlier.
KFH’s depositors’ accounts stood at KWD 10.839 billion during 2015, said the company’s chairman Hamad Al-Marzouq.
He said that KFH’s assets amounted to KWD 16.5 billion after it shrank its stake in Aviation Lease and Finance Company (Alafco) to 47% from 53%, and Gulf Investment Corporation entered as a major shareholder.
The capital adequacy ratio (CAR) accounted for 16.67%, exceeding the minimum limit of 13%, which confirms KFH’s strong financial position.
“KFH is continuing its efforts to issue more sovereign and corporate Sukuk, which reaffirms its role in syndicating Sukuk that are considered to be an alternative financial instrument to conventional bonds,” noted the chairman.
