The Chairman & Managing Director – Kuwait Finance House, Mr. Bader Abdul-Mohsin Al-Mukhaizeem announced that KFH has realized a total profit KD 113 Million in the 3rd quarter this year. Shareholders share therein amounted KD 48.6 Million, thus marking an increase of 26% over the same period last year.
Assets volume amounted KD 3.4 Billion which means an increase by KD 355 Million over the same period last year 12%.
Deposits volume for the 3rd quarter amounted KD 2.6 Billion, which marks and increase by KD 330 Million, 14% over the same period last year.
Share profitability for the 3rd quarter increased to 63 Fils compared to 51 Fils for the same period last year.
Mr. Al-Mukhaizeem said that these financial indications of the 3rd quarter come as a result of the steady and continuous development in KFH performance in its various activities. He reiterated that KFH is continuing its foreign expansion to achieve global presence, increase investment opportunities and assist KFH in providing better services. He indicated that KFH is keen on achieving its strategy in this field as per well studied plans, taking into consideration the market developments, growth opportunities and future expansion potentials.
He considered that the incorporation of a bank in Malaysia is considered as advanced step which represents KFH efforts to reinforce its presence in the Asian market in general and Malaysia in particular. He added that the new bank will participate in reinforcing the Asian gulf relations through the development of commercial exchange and cooperation between the two sides. KFH is keen on playing this role through its several investments abroad.
Regarding KFH tendency to the European markets Mr. Al-Mukhaizeem said that KFH has announced a new real estate fund in UK in the name of ATHMAR, after obtaining the necessary official approvals in this regard. This fund is the fourth fund in the European market. Total assets managed by KFH funds amount Euro 1 Billion.
Mr. Al-Mukhaizeem said that KFH has drawn a unique line for its investments by entering into distinguished qualitative fields. the incorporation of the marine fund recently with US$ 80 million capital made a distinguished and focal addition which is expected to open a vast field in this significant activity currently and in the future. This investment follows KFH significant participations in financing aircraft purchase transactions as well as grand development, energy and communication projects …etc.
He emphasized that KFH is currently considering participation in similar projects in several Arab and foreign countries to support this tendency and strengthen its investment status and its regional and international expansion.
Mr. Al-Mukhaizeem reiterated the significance of the local market and its priority in KFH strategy. KFH share in the local market is witnessing a rapid and continuous growth which required the adoption of a certain strategy to cope with and increase this growth at the same time. One of the main elements of the strategy is the expansion of geographical spread, provision of various and new products and adoption of new and developed concepts in providing the service and attraction of new customers. KFH has also adopted the concept of a comprehensive branch which provides a range of diversified and