KFH Records Significant Profit Growth in 2021, Approximating Pre-Covid19 Levels

Kuwait Finance House (KFH) has recorded net profit amounting to KWD 243 million (USD 803 million) in 2021, a 64% increase from 2020, approximating pre-pandemic levels.

Why it Matters?

KFH has a strong capital base with a Market Capitalisation (MC) of KWD 7.6 billion (USD 25.13 billion). Abdulwahab Essa Al-Rushood, the Acting Group Chief Executive Officer (CEO) of Kuwait Finance House (KFH), stated that the group had taken steps in utilising digitalisation as KFH continued to provide its digital banking services despite the Covid19 crisis, assisted by the Central Bank of Kuwait’s (CBK) action to enable digital banks licensing and digital banking frameworks. The group also contributes to sustainability by catering to over 7.5 million customers in GC...