KFH reports record net profit of KD 333.4m in H1 2023 up 141.4%

KFH reports record net profit of KD 333.4m in H1 2023 up 141.4%

KUWAIT: Chairman of Kuwait Finance House (KFH) Hamad Abdulmohsen Al-Marzouq said that KFH has, by the grace of Allah, reported record net profit for its shareholders of KD 333.4 million($1.086 billion) for the first half of 2023, an increase of 141.4 percent compared to the same period last year. KFH showed its highest-ever quarterly profit in history and the biggest in the Kuwaiti banking sector. Earnings per share for the first half of 2023 reached 22.03 fils; an increase of 73.3 percent compared to the same period last year. Net financing income for H1 23 reached KD 458.5 million; an increase of 43.2 percent compared to the same period last year.

Net operating income for H123 reached KD 489.1 million; an increase of 58.6 percent compared to the same period last year. Financing receivables as of the end of H123 reached KD 19.1 billion, an increase of KD 268 million or 1.4 percent compared to the end of last year. Total assets as of the end of H123 reached KD 37.02 billion, an increase of KD 51.0 million or 0.1 percent compared to the end of last year. Also, shareholders’ equity as of the end of H123 reached KD 5.2 billion.