The profits of Kuwait Finance House Bank (KFH) in the third quarter of 2023 increased by about 89.3% on an annual basis to about 128.1 million dinars (about 414.2 million dollars), compared to 67.7 million dinars in the similar period in the third quarter of 2022, according to a disclosure from “KFH” was published on Wednesday on the Kuwait Stock Exchange.
KFH was established in 1977 and has been listed on the Kuwait Stock Exchange since 1984. It has 65 branches, and the Kuwait Investment Authority owns 24% of it.
The bank’s operating revenues increased by 58.7% in the third quarter of this year to about 381.4 million Kuwaiti dinars, compared to about 240.2 million Kuwaiti dinars during the same period last year, according to the statement.
Nine-month results
The bank’s profits in the first nine months of the current year increased by 124.3% to 461.5 million dinars, compared to 205.8 million dinars during the same period of the previous year.
The bank attributed the increase in net profit during the first nine months of the current year to the contribution to the results of the Ahli United Bank Group as a result of the acquisition contribution during the last quarter of 2022, with the increase in revenues from the main activities of the “KFH” group, in the current period.
(Prepared by: Jehan Laghmari, Edited by: Shaima Hefzy, Contact: [email protected])
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2023-10-18 08:37:27
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