October 16, 2017 / 7:36 AM / a month ago

Kuwait Finance House Q3 profit rises 7.5 pct

DUBAI, Oct 16 (Reuters) - Kuwait Finance House (KFH), the country’s biggest Islamic lender, reported a 7.5 percent rise in third-quarter net profit according to a statement on Monday.

Net profit rose to 56.2 million dinars ($186.2 million) in the three months to Sept. 30, Reuters calculated based on nine-month results provided by the company.

EFG Hermes analysts had forecast a net profit of 55.9 million dinars.

National Bank of Kuwait, the Gulf Arab state’s largest commercial lender, last week reported a 7.3 percent rise in third-quarter net profit.

For the nine-month period, KFH reported a net profit of 137.9 million dinars, up 12 percent from a year earlier.

It cited a rise in operating income and a drop in operating expenses.

$1 = 0.3019 Kuwaiti dinars Reporting by Tom Arnold; editing by Jason Neely

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