KFH News For Shareholders. October

Transcription

1 KFH News For Shareholders October

2 Earnings per Share 39.6 fils, assets rose to KD billion, and deposits up to KD billion Al-Mukhaizeem: KD 97.3 million KFH net profits up to 3 rd Quarter 2010 Chairman and Managing Director of Kuwait Finance House "KFH" Bader Abdul Mohsen Al-Mukhaizeem said that: KFH -Thanks to Allah Almighty- has achieved total Gross Profits up to Q of KD million which includes net profits to shareholders of KD million, and EPS earnings per share up to Q of 39.6 fils. Assets totaled KD billion, at an increase of KD 964 million equal to 9% for the same period of the past year. Total deposits reached KD billion, at an increase of KD 368 million equal to 5% for the same period last year. Shareholders equity stood at KD billion, at an increase of KD 45 million, equal to 4% for the same period last year. 1

3 Business news KFH-Turkey announces USD 100 million sukuk deal orchestrated by Liquidity Management House The Private Financial Services Department Manager at Kuwait Finance House (KFH) Talal Al-Nesf announced that KFH s local real estate portfolio 2 achieved high returns that resulted in the distribution of 6% annual profit. He added that the portfolio that has a capital of KD 60 million began operating in July and distributes quarterly profits, such as groups of investment and commercial real estate in Kuwait. Moreover, he revealed in a press statement that KFH is in the final stages of the process of selling real estate of KFH s real estate fund in Turkey with over 12% of capital profit. The fund distributed more than 10% profit over 6 years in the form of quarterly distributions to investors, which means that the investor received more than 50% of his capital as profits during the fund s timeframe. He explained that after the selling process is completed as expected by the end of this year, every investor will have regained his capital and over 12% in profits, in addition to the profit they received during the investment process. 2

4 KFH wins 3 awards from Global Finance Al-Subeih: KFH s gulf approach is based on economic principles Kuwait Finance House (KFH) AGM for the Investment Sector Abdul Nasser Al-Subeih, received three awards that KFH was awarded by Global Finance magazine, which are Best Real Estate Service Provider, Best Islamic Bank in the Gulf and Kuwait. Al-Subeih received the awards during a ceremony that was organized recently. During the event, KFH s role, leadership, and ability to reinforce its local and regional market share were applauded. 3

5 KFH participates in 36 th International Conference for Arab Financial Markets Traders Union Kuwait Finance House (KFH) representative at the Kuwaiti Traders Society in Financial Markets Ahmed Al-Sumait and a delegation from the society participated in the 36 th annual conference for Arab Traders Union in Financial Markets that was held in Istanbul from September 30 th to October 3 rd. 500 leading figures in the economic, political, and international financing institutions attended the conference, spearheaded by former American President Bill Clinton, and the former American Federal Reservoir Governor Alan Grinsban. Al-Sumait, who is also a member of the society s board and Kuwait s Permanent Representative at the union, stated in a press conference that the annual conference discussed in its recent meeting pivotal issues, such as financing before and after the global financial crisis, which is an issue that is of great concern to major companies and financial institutions that execute developmental projects. 4

6 5 KFH Awarded as Best Data Warehouse in the Middle East Kuwait Finance House (KFH) was awarded as Best Data Warehouse award in the Middle East region by Sybase Institution, which is one of the leading international institutions in the field of database and IT. KFH received the award after successfully completing this project, despite the fact that Sybase has a large client base worldwide. The Central Reports Unit Manager at the IT Sector Ahmed Abdullah stated after receiving the award, that the data warehouse projects is a type of databases that contain many historic data that has been collected in one warehouse, in order to summon any data easily and accurately. He added that this award that will be added to KFH s achievement list in the IT field, further cements KFH s ability to use advanced technology in the banking field to meet the demands of clients, in addition to its leadership in this field among regional financial institutions.