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Islamic Finance Briefing - Categorized | Banking, Performance more

Kuwait’s top Islamic bank profits fall

Posted on 03 November 2011

Kuwait Finance House, the emirate’s leading Islamic bank, said Wednesday its net profits dropped in the third quarter and first nine months of 2011. KFH’s third quarter net profit fell 4.5 percent from the same period a year ago to $92.1 million, the bank said in a statement posted on the Kuwait Stock Exchange website.
And the lender’s net income in the first nine months of 2011 slumped 27.2 percent from 2010 to $257.5 million, it said. Kuwaiti banks so far this year have yielded lower profits than in 2010, mainly due to precautionary provisions taken against suspicious loans………………………………………..Full Article: Source

 
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