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Kuwait’s biggest Islamic lender profit up 22 pct

Kuwait’s KFH made a net profit of $138.4 million in Q2.

July 21, 2010 3:05 by

Kuwait Finance House, the country’s biggest Islamic lender, reported on Wednesday a 22 percent rise in second-quarter net profit.

The lender made a net profit of 39.9 million Kuwaiti dinars ($138.4 million) in the second quarter, up from 32.7 million dinars in the year earlier period, KFH said in a statement on the Kuwaiti bourse website.

Net income in the first half of the year was 70.8 million dinars ($245.7 million), it said.

Analysts at EFG-Hermes had expected KFH to post a net profit of 32 million dinars in the second quarter, according to a Reuters survey.

(Reporting by Eman Goma; Editing by Dinesh Nair)

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