Mubasher: Kuwait Finance House (KFH) on Sunday posted a 13.9% year-on-year increase in its profits for the first quarter of 2018.

Net profits amounted to KWD 43.97 million in the three-month period ended March 2018, compared to KWD 38.59 million in Q1-17, according to the bank’s statement to Boursa Kuwait.

Kuwait's biggest Islamic lender attributed the growth in its first-quarter profits to a 12% increase in net operating income, which resulted mainly from the rise of net financing income by 38%.

For the full-year 2017, KFH's profits jumped 11.5% to KWD 184.16 million versus KWD 165.23 million in the year before.

By 09:41 am Kuwait time, KFH’s stock rose 0.19% at 514 fils.