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Kuwait Finance House Q2 profit more than triples

Finance Kuwait City 07 Aug 21
Kuwait Finance House Q2 profit more than triples
Kuwait Finance House net profit for the Q2 more than tripled due to a decrease in provisions and impairments.
Fee
Event Location
Kuwait, Kuwait
Area
Kuwait City
Start Time
07 August 2021, 12:00 AM
End Time
31 August 2021, 12:00 AM

Kuwait Finance House, a Sharia-compliant bank, said on Tuesday net profit for the second quarter more than tripled due to a decrease in provisions and impairments, according to a report published on the Kuwaiti bourse website.

Kuwaiti banks' earnings were hit last year by the effects of the coronavirus pandemic and relative weakness in oil prices, impacting the Gulf state's economy.

However, KFH Net profit rose to 52 million dinars ($173.37 million) in the period ended June 30, from 12.6 million dinars in the year earlier period.

The company plans to hold an analyst call on August 10, it said in a disclosure attached to its financial statements.

kuwait banking news 2021kuwait finance house Q2 profit



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