KUWAIT: Kuwait Finance House (KFH) Chairman, Hamad Abdulmohsen Al-Marzouq said that KFH, by the Grace of Allah and His Blessings, has posted a net profit of KD 145.8 million for the fiscal year 2015 compared to KD 126.5 million for the year 2014, thus marking an increase by 15.3 percent over last year. Earnings per share increased to reach 31.1 fils, an increase of 15.3 percent over the same period last year.
Finance portfolio increased to reach KD 8.127 billion. Net finance income increased to reach KD 392.8 m for the year 2015 compared to KD 363.4 million for the preceding year, thus marking an increase by 8.1 percent. Depositors’ accounts amounted to KD 10.839 billion.
Total Assets reached KD 16.5 billion. It is worth noting that KFH shrank its share in Alafco Aviation Lease and Finance Company to 47 percent from 53 percent, not to mention that the Gulf Investment Corporation entered as a major shareholder in the said company.
Shareholders’ equity reached KD 1.779 billion, which marks an increase by KD 33 million or 1.9 percent over last year.
KFH distributions for the year 2015 are as follows: 2.35 percent for “Al-Khumasiya” investment deposit, 2.15 percent for “Al-Mustamera” investment deposit, 1.50 percent for “Al-Sedra” investment deposit, 1.30 percent for the 6-month Dimah investment deposit and 0.73 percent for savings investment accounts.
The Board of Directors has recommended 17 percent as cash distributions to shareholders and 10 percent as bonus shares subject to general assembly and concerned authorities approval.
