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IFA repays KWD 12.7m of loan

IFA repays KWD 12.7m of loan
IFA disclosed on Wednesday a loss of KWD 2.05 million in H1
IFA
IFA
1.85% 385.00 7.00

Mubasher: International Financial Advisors (IFA) has repaid KWD 12.71 million as part of a loan.

The repayment was executed in kind to a foreign bank, according to a bourse filing on Thursday.

IFA, which is listed on both Boursa Kuwait and the Dubai Financial Market (DFM), clarified that due to this settlement, losses worth KWD 3.5 million as impairment of goodwill will be registered in the income statements of the third quarter this year.

It is noteworthy that IFA disclosed on Wednesday a loss of KWD 2.05 million during the first half of 2018 against profits valued at nearly KWD 67,510 in the same half a year ago.