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Kuwait Finance House earns approx USD 350 million year's 1st half

KUWAIt, July 17 (KUNA) -- Chairman of Kuwait Finance House (KFH) Hamad Abdulmohsen Al-Marzouq said the KFH has posted net profits of KD 107.7 million (USD 353.6 million) for the first half of 2019 for KFH shareholders compared to KD 95.2 million (USD 311 millin) for the same period last year, an increase of 13.1%.
Total finance income for H1 this year reached KD 460.5 million (USD 1.5 billion) an increase of 8.6%; and net operating income reached KD 240.7 million (USD 788 millin), a growth of 2.1% compared to the same period last year. Cost to income ratio dropped to reach 38.7% for H1 2019, compared to 39.5% for the same period last year.
Earnings per share for H1 of 2019 reached 15.64 fils, compared to 13.84 fils for the same period last year i.e. an increase of 13%.
Total assets increased by 5.5% compared to the end of last year to reach KD 18.747 billion (USD 59 billion), an increase of KD 976.8 million (USD 3.2 billion) at the end of H1 this year.
Finance receivables reached KD 9.237 (USD 29,000).. an increase of 0.5% compared to end of last year. Investment in Sukuk reached KD 2.145 billion (USD seven billion) an increase of KD 582 million (USD 1.9 billion), a growth of 37% compared to end of last year and the majority of the balance represents investments in Sovereign Sukuk.
Depositors' accounts reached KD 12.837 billion (USD 39 billion). an increase of KD 1.057 billion (USD three billion) or 9% compared to the end of last year. (end) fnk.rk