Kuwait Finance House "KFH" has taken the top spot among banks locally and the 161st place globally, among the list issued by "The Banker" international magazine, the affiliate of Group "Financial Times Group" among the best Top 1000 banks worldwide.
The advanced rankings confirm the strong financial position the bank enjoys and prove its leadership and excellent performance. In addition, they reflect KFH’s ability to continue growing in the face of challenges while maintaining positive financial indicators that enhance such abilities.
KFH shows interest in business excellence and quality through good management and maximum utilization of human capital. Moreover, KFH creates further motivations to keep on the achievements and successes vivid in a manner consistent with the global reputations it enjoys.
It’s worth noting that KFH’s leadership and the diversity of its investments through presence in various areas of investment not to mention the global expansion gives the bank top notch investment opportunities.
KFH has been awarded numerous awards and has been recognized by a lot of regional and global prestigious institutions, which confirms its creditworthiness and the ability to deal professionally with all different economic conditions.
KFH shows great interest in the expansion policy, as it currently has 375 branches spanning Kuwait, Turkey, Malaysia, Saudi, Bahrain, the United Arab Emirates, Germany and Australia. Further, KFH is keen on adopting the latest systems in terms of technology and human resources development.
It’s worth mentioning that KFH posted in the first half of this year a gross profit of KD 144.032 million (USD 510.887 mln), and net profit for shareholders was KD 54.568 million (USD 193.555 mln) with an increase of 10% over the same period last year.
Total Assets increased by 11 % over the same period last year to reach KD 16.7 billion (USD 59.3 bln), an increase of KD 1.6 billion (USD 5.7 bln).
Total deposits reached KD 10.7 billion, (USD 38.1 bln) an increase of KD 412 million (USD 1.5 bln), or 4% over the same period last year.
Shareholders’ equity reached KD 1.7 bln (USD 6.1 bln), an increase of KD 59 mln (USD 209 mln), or 4% over the same period last year.