Kuwait Finance House (KFH), the Gulf state''s biggest Islamic lender, expects 2010 earnings to be in line with those in 2009. Chairman Bader AlـMukhaizeem told reporters on Monday the bank would continue to expand in international markets including the United States, Canada and China, adding that overseas markets contributed 43 percent of the lender''s earnings. In December, KFH said it signed a 242 million US dollar real estate deal in Chicago, after saying in August it was tying up with US apartment building owner UDR Inc. to buy high income property worth up to $450 in the United States. KFH''s Asian subsidiary said in February it was considering regional acquisitions and business alliances to boost its size as it eyes huge untapped markets such as China and Japan.
"I don''t expect them (earnings) to be up by much from 2009. Maybe in the second half things will improve," AlـMukhaizeem told reporters after a shareholder meeting. Shareholders approved an eight percent bonus share distribution. The lender''s net profit fell a quarter to 119 million Kuwaiti dinars ($412 million) in 2009.