Mubasher: Kuwait Finance House (KFH) announced that its profits increased by 31.4% in the third quarter of 2018 compared to the same period in the prior year.
Earnings grew to KWD 73.9 million ($243.9 million) in Q3-18 from KWD 56.2 million ($185.5 million) in the same quarter a year ago, according to a recent statement on Wednesday.
During the first nine months of 2018, KFH recorded a growth of 22.7% in profits to KWD 169.1 million, compared to KWD 137.9 million from January to September 2017.
KFH clarified that the increase in 9M profits is attributed to a growth of 17.9% in operating revenues due to the 25.4% rise in finance revenues.
Total operating revenues of the bank stood at KWD 589.6 million, registering an increase of 12.3%.
At the stock level, KFH closed Wednesday’s session 0.86% higher at 584 fils after 2.3 million shares were traded at a value of KWD 1.3 million.
