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ISLAMIC FINANCE

Islamic banks in the GCC to remain resilient despite challenges in 2019-20

May 7, 2019

Islamic banks in the GCC to remain resilient despite challenges in 2019-20

Shariah-compliant lenders in the Arabian Gulf are likely to remain resilient this year and next despite difficult operating conditions and may see mid-single digit growth in asset bases over the next one to two years, S&P Global Ratings said.

The growth forecast for Islamic banks for 2019-2020 is the same as what the rating"... Continue Reading

KIB reports KD 6.2 million in net profits for Q1 2019

May 6, 2019

KIB reports KD 6.2 million in net profits for Q1 2019

KUWAIT: Sheikh Mohammed Jarrah Al-Sabah, Chairman of Kuwait International Bank (KIB) announced that the Bank recorded a net profit attributable to shareholders of KD 6.2 million at the end of the first quarter of 2019, mainly contributed by increase in financing income accompanied by an effective cost optimization. The financing income increased by 20 percent, or by KD 4 million, reaching approximately KD"... Continue Reading

KFH achieved positive performance for the fifth consecutive year: Al-Roshood

April 29, 2019

KFH achieved positive performance for the fifth consecutive year: Al-Roshood

KUWAIT: Acting Group CEO, AbdulWahab Al-Roshood said that KFH achieved a net profit of KD 51.6 million for the first quarter of 2019 for KFH shareholders compared to KD 44 million for the same period last year with an increase of 17.4 percent.

He added during the first quarter 2019 – KFH Earnings Webcast, that the total finance"... Continue Reading

KFH’s profits resulted from revenue items of core activities: Al-Roshood

April 25, 2019

KFH’s profits resulted from revenue items of core activities: Al-Roshood

KUWAIT: Abdulwahab Al-Roshood, Group Chief Treasury Officer at Kuwait Finance House (KFH) said that the Q1 profits mainly resulted from revenue items of the core banking activities. Total finance income grew 9.5 percent to KD 228.4 million in Q1 compared to the same period of 2018. The total operating revenues rose 7.1 percent to KD 196.8 million in Q1 2019 compared to the same period of last year.

... Continue Reading

Kuwait's KFH reports 17.4% jump in Q1 profit as provisions for bad loans drop

April 23, 2019

 Kuwait's KFH reports 17.4% jump in Q1 profit as provisions for bad loans drop

Kuwait Finance House reported a 17.4 per cent rise in its first quarter net profit, beating analysts’ estimates as provision for bad loans fell and operating income climbed.

Net income for the three months to the end of March rose to 51.6 million Kuwaiti dinars (Dh622.8m) from a year-earlier, the lender said in a statement"... Continue Reading

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