The financial statements of Kuwait Finance House Bank (KFH) showed an increase in the bank's profits in the first half of this year by 79.5% on an annual basis.
According to the bank's data for the Kuwaiti Stock Exchange, the profits for the period amounted to 102.193 million dinars (340.88 million dollars), compared to profits of 56.917 million dinars (189.86 million dollars) in the first half of the year. 2020.
The bank said in a statement to the stock exchange that the increase in profits during the comparison periods is mainly due to the decrease in provisions, and the decrease in the value charged to the consolidated income statement by 51.7%, which is due to Increased expected credit losses, as well as impairment recorded during the comparison period.
The bank's total operating income in the first half of this year amounted to about 400.055 million dinars, compared to 419.737 million dinars for the same period in 2020, a decrease of 4.7%.< /p>
KFH achieved profits of 52.189 million dinars in the second quarter of this year, an increase of 312.8% compared to profits of the same period last year, which amounted to 12.642 million dinars.
The bank's profits rose by 13% in the first quarter of this year; To reach 50,004 million dinars, compared to profits of 44.275 million dinars for the same period in 2020.
