(MENAFN) Net income in Kuwait Finance House (KFH) jumped by 17.4 percent from January to March 2019 to exceed all forecasts analysts presented.
This boost is attributed to a decline witnessed in provision for bad loans along with a surge in operating profits in the Kuwaiti lender.
In a statement, the lender confirmed that during the first quarter of the year, it generated around USD169,692 million in its net income.
It explained that the increase is "mainly due to the rise in operating income ... and the decrease in the provisions and impairments by 15.9 per cent."
MENAFN2304201900450000ID1098426604
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.