KD 357.7 million net profit for KFH shareholders for 2022 Al-Marzouq

KD 357.7 million net profit for KFH shareholders for 2022 Al-Marzouq

KUWAIT: Chairman of Kuwait Finance House (KFH) Hamad Abdulmohsen Al-Marzouq said that, by the grace of Allah, KFH has reported net profit of KD 357.7 million attributable to the shareholders of the bank for the year ended 2022; an increase of 47.0 percent compared to 2021. Ahli United Bank – Bahrain contributed to the profit with an amount of KD 62.5 million or 17.5 percent which represents the results of AUB for the period from the date of the acquisition on October 2, 2022, until end of FY22, following the successful completion of the acquisition of 100 percent of Bahrain’s Ahli United Bank by KFH, and the listing and trading of its shares on Bahrain Bourse on October 6, 2022.

Al-Marzouq added that the fourth quarter of 2022 witnessed a record growth of 101.7 percent in profits attributable to shareholders of KFH compared to the same period of 2021. This came as a result of combining profits of AUB-Bahrain after the successful 100 percent acquisition of its shares, and the earnings per share for Q4 of 2022 increased from 7.74 fils to 10.70 fils, an increase of 38.2 percent compared to the same period last year.

Earnings per share for the year