Kuwait Finance House net profit rises 39% in the first quarter of 2022 | latest news

Kuwait Finance House (KFH), the largest Islamic bank in the country, announced today, Thursday, that its net profit rose 39% to reach 69.5 million dinars, or 227.85 million dollars in the first quarter of the year, compared to fifty million dinars a year ago.

KFH said in a statement to Boursa Kuwait that the reason for this increase is due to an increase in net operating income by 12.2%, including an increase in net financing income by 3.5%.

The statement also indicated “a decrease in provisions and impairment charge on the consolidated income statement by 28 percent compared to the same period of the previous year.”