DUBAI, April 25 Kuwait Finance House
posted a 13 percent rise in first quarter profit from a year
earlier, due to a surge in investment income, as well as higher
fee and commisison income.
Net profit for the three months to March 31 was 38.6 million
dinars ($126.91 million), versus 34.1 million dinars a year ago.
EFG Hermes had projected a net profit of 37.56 dinars.
KFH, considered a pioneer in Islamic banking, has benefited
from strong capital market activity.
Kuwaiti stocks have rallied by nearly a fifth this year as
the economy has withstood the fall in oil prices better than its
other Gulf peers.
($1 = 0.3042 Kuwaiti dinars)
(Reporting by Saeed Azhar; Editing by Tom Arnold)