KFH reports record net profit of KD 461.5m up to end of Q3 2023

KFH reports record net profit of KD 461.5m up to end of Q3 2023

KUWAIT: Chairman of Kuwait Finance House (KFH) Hamad Abdulmohsen Al-Marzouq said that KFH has, by the grace of Allah, reported a record net profit for its shareholders of KD 461.5 million ($1.5 billion) up to the end of the third quarter of 2023, an increase of 124.3 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 up to the end of Q3 2023 reached 30.81 fils; an increase of 61.1 percent compared to the same period last year.

Net financing income up to the end of Q323 reached KD 713.9 million; an increase of 40.4 percent compared to the same period last year.

Net operating income up to the end of Q323 reached KD 739.8 million; an increase of 59.7 percent on the same period last year.

Financing receivables as of the end of Q323 reached KD 19.0 billion, an increase of KD 155 million or 0.8 percent compared to the end of last year. Total assets as of the end of Q323 reached KD 37.1 billion, an increase of KD 99 million or 0.3 percent compared to the end of last year. Also, shareholders’ equity