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Kuwait Finance House's (KFH) chief executive officer Bader Abdul Mohsen Al Mukhaizeem announced that the bank has achieved total profits worth $1.91 billion for the year 2007, an increase of $667.7 million equal to 53 per cent.
This includes the profits for investment depositors that reached $881.92 million, distributed to shareholders of stock listed in Kuwait Stock Market as follows (other countries will announce financial results separately): 8.632 per cent for investment deposits, 6.714 per cent for Al Sedra deposit and 5.755 per cent for investment saving accounts.
The net profits for shareholders reached $1 billion with an increase of $411.861 million equal to an increase of 70 per cent compared to last year.
Mr Al Mukhaizeem stated that these results were the fruits of the extended success that KFH has achieved during the previous years. This success is based on KFH's awareness of the market and economical sectors where it operates; in addition to the policy that KFH follows in varying the assets, which it uses for investment.
Abdulhakeem Alkhayyat, KFH-Bahrain general manager, said, "In 2007 KFH-Bahrain witnessed several milestones in terms of its products, services and banking activities. This success is mainly due to the bank's well planned strategies which includes not only Bahrain, but the countries we operate within. We are looking forward to continue this success in 2008 and beyond and to achieve our optimum goal of customer satisfaction."
