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KFH records KWD 108m profits in H1-19

KFH records KWD 108m profits in H1-19
KFH posted a 17.4% year-on-year increase in Q1-19 profits
KFH
KFH
1.43% 781.00 11.00

Mubasher: Kuwait Finance House (KFH) achieved an increase of 9.4% in profits during the second quarter of 2019 compared to the same period a year ago.

The bank recorded KWD 56.07 million ($184.7 million) in Q2-19 from KWD 51.25 million ($168.8 million) in Q2-18, according to a bourse disclosure on Wednesday.

During the first six months ended 30 June 2019, KFH recorded a surge of 13.1% in profits to KWD 107.67 million from KWD 95.22 million in the same period a year earlier.

The increase in H1-19 profits is attributed to higher operating revenue and lower operating expenses.

It is worth mentioning that during the first quarter of 2019, the bank posted a 17.4% year-on-year increase in profits to KWD 51.6 million from KWD 43.97 million.