Mubasher: Kuwait Finance House's (KFH) financing portfolio rose 3% or KWD 280.9 million to KWD 9.497 million by the end of first quarter of 2018, chairman Hamad Abdulmohsen Al Marzouk said on Sunday.
Kuwait's biggest Islamic lender also announced generating a net profit of KWD 43.7 million in the first three months of this year, compared to KWD 38.59 million during Q1-17, registering a 13.9% growth, Al Marzouk added.
The bank's net financing revenues surged 38.2% to KWD 138.38 million during Q1-18, compared to the year-ago period, according to KFH's statement.
The chairman noted that total operating revenues increased 12.2% to KWD 189.11 million, while net operating revenues rose 11.7% to KWD 110.30 million in Q1-18, compared to the same period in a year earlier.
Year-on-year, depositors’ accounts grew 1.4% or KWD 167.3 million, reaching KWD 11.764 million by the end of Q1-18.
Earnings per share (EPS) amounted to 7.03 fils in the three-month period ended March 2018, compared to 6.17 fils during Q1-17.
KFH’s stock remained unchanged to close Sunday at 513 fils after 2.95 million shares were exchanged with a turnover of KWD 1.52 million.
