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Kuwait Finance House makes $96mln profit from Saudi exit

Posted on 09 January 2012

The Saudi unit of Kuwait Finance House, the Gulf state’s largest Islamic bank, made a SR360m ($96m) profit from the sale of a real estate project in the kingdom, the bank said in a regulatory filing on Sunday.

KFH sold the project for SR1.5bn and that the profit will be reflected in the bank’s first quarter financial results, the statement added. The buyer of the project was not disclosed………………………………………Full Article: Source

 
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