Kuwait Finance House Q1 net profit up 14.6 pct, short of estimates
The bank also said its Turkish subsidiary would begin operations in Germany, headquartered in Frankfurt, in the middle of 2015
Kuwait Finance House (KFH), the country's biggest Islamic lender, reported a 14.6 percent rise in first-quarter net profit on Wednesday, but still fell short of analysts' forecasts.
Net profit rose to $99.0 million in the three months to the end of March from $89.3 mln in the same period a year ago, the lender said in a statement.
Four analysts polled by Reuters forecast, on average, first-quarter profit of $120 mln.
The bank also said its Turkish subsidiary would begin operations in Germany, headquartered in Frankfurt, in the middle of 2015, with a starting capital of $158 mln.
The bank previously had a limited branch in the German city of Manheim, but gained a license to establish a fully integrated Islamic bank.
Kuwait oil tanker shipments unaffected by Yemen operationsSheikh Talal al-Khalid al-Sabah said tankers were operating in a safe and usual manner through the Bab el-Mandeb strait Energy
UAE, Kuwait, Bahrain, Qatar, Jordan deploy warplanes against HouthisThe UAE has deployed 30 fighter jets, Bahrain 15, Kuwait 15, Qatar 10 and Jordan 6 warplanes Middle East
Saudi Arabia scoops seven national winners of quality projectsNational winners were also selected from projects completed in Bahrain, Oman, Kuwait, Qatar, and UAE Energy
1300GMT: Kuwait, Oman condemn Swedish remarks against Saudi ArabiaNews Bulletins
Saudi, Kuwait defense ministers hold talks in RiyadhKuwait’s defense minister said his talks with Prince Mohammed bin Salman were “fruitful and constructive” Middle East
OPEC has no choice but to keep output unchanged: Kuwait ministerOmair said he expects there would be some fluctuation in oil prices Energy