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Kuwait, 26 October 2009 - Kuwait Finance House K.S.C. (KFH) remained strong as revealed in its latest financial results released for the third quarter of this year. Total profit reached KD281.40 million (MYR3,328.96 million) with shareholders’ net profit at KD106.40 million (MYR1,258.71 million). Earnings per share amounted to 46.6 fils (MYR0.55). Total assets for the period was recorded at KD11.091 billion (MYR131.21 billion) representing an increase by KD548.00 million (MYR6,482.84 million) or five percent as compared to the same period last year. Total deposits volume amounted to KD7.015 billion (MYR82.99 billion), representing an increase by KD682.00 million (MYR8,068.06 million) or 11 percent over the same period last year.
In addition, net profit for the three months ended September 30 2009 was stated at KD34.30 million (MYR405.77 million) with an increase of KD1.50 million (MYR17.75 million) or five percent over the second quarter. Earnings per share increased by five percent to 15.1 fils (MYR0.1786) for the third quarter of 2009 as compared to 14.4 fils (MYR0.1704) for the second quarter of 2009.
Kuwait Finance House Chairman and Managing Director, Mr. Al-Mukhaizeem, said that KFH has achieved remarkable results despite the global financial crises. In terms of its international ventures, KFH has succeeded in obtaining a business license in Germany and will open its first branch in the country. In Asia Pacific, KFH has participated in several major real-estate and industrial projects in Malaysia, China, Singapore and Australia. In the Gulf region, KFH had obtained the license to operate in Saudi Arabia through the incorporation of an investment bank with a capital RS500 million (MYR440 million) as well as the incorporation of Baitak real estate with a capital of RS2.5 billion (MYR2.2 billion). Investment for KFH – Bahrain’s major real estate development project, Durrat Al-Bahrain, approximated at US$ 4.00 billion (MYR13.44 billion). Another notable project under the KFH’s wing is the commercial and residential Diyar Al-Muharraq.
KFH has been accorded with various awards reflecting its leading position in numerous markets with the most recent being ‘The Best Bank Award’ in Kuwait and the Gulf region, ‘The Most Valuable Banking Brand’ in the Middle East and ‘World's Most Trusted Islamic Bank’.
In addition, net profit for the three months ended September 30 2009 was stated at KD34.30 million (MYR405.77 million) with an increase of KD1.50 million (MYR17.75 million) or five percent over the second quarter. Earnings per share increased by five percent to 15.1 fils (MYR0.1786) for the third quarter of 2009 as compared to 14.4 fils (MYR0.1704) for the second quarter of 2009.
Kuwait Finance House Chairman and Managing Director, Mr. Al-Mukhaizeem, said that KFH has achieved remarkable results despite the global financial crises. In terms of its international ventures, KFH has succeeded in obtaining a business license in Germany and will open its first branch in the country. In Asia Pacific, KFH has participated in several major real-estate and industrial projects in Malaysia, China, Singapore and Australia. In the Gulf region, KFH had obtained the license to operate in Saudi Arabia through the incorporation of an investment bank with a capital RS500 million (MYR440 million) as well as the incorporation of Baitak real estate with a capital of RS2.5 billion (MYR2.2 billion). Investment for KFH – Bahrain’s major real estate development project, Durrat Al-Bahrain, approximated at US$ 4.00 billion (MYR13.44 billion). Another notable project under the KFH’s wing is the commercial and residential Diyar Al-Muharraq.
KFH has been accorded with various awards reflecting its leading position in numerous markets with the most recent being ‘The Best Bank Award’ in Kuwait and the Gulf region, ‘The Most Valuable Banking Brand’ in the Middle East and ‘World's Most Trusted Islamic Bank’.
