Mubasher: The ordinary general meeting (OGM) of Kuwait Finance House (KFH) has approved the board’s recommendation to distribute 17% of capital as cash dividends for fiscal year 2017.

The Islamic bank will pay 17 fils per share to the entitled shareholders, in addition to distributing 10% of capital as bonus shares, according to a recent statement.

KFH has maintained its profitability and growth despite the challenges in the region, the chairman, Hamad Al Marzouk, said according to the statement.

The bank enjoys a sustainable profitability in line with its flat steps towards promoting the shareholders’ equity rights.

KFH has approved a three-pivot strategy until 2020 to endorse the customers baseline, Al Marzouk added. 

In FY17, the bank achieved a growth of 11.5% in profits to KWD 184.16 million compared to KWD 165.23 million in FY16.