Photo Credit: Arabianeye-Reuters
KFH
KFH`R
KFH`R
Kuwait Finance House (KFH) has restructured a bad debt worth KWD 26 million ($85.92 million) for one of its indebted clients, according to a statement issued Monday by KFH.
The debt settlement was paid in cash resulting in a KWD 13 million profit, which will be reflected in the second quarter’s financial statements. KFH added that the move will further generate profits over the coming years which will be disclosed in due time.
Source:
Mubasher
