KUWAIT: Kuwait Finance House, the Gulf Arab state's largest Islamic lender, said on Monday that a customer had settled $296.6 million of debt owed to the bank and that the impact of the receipt would be reflected in its second-quarter results.
The customer had owed 32.6 million dinars or $114.3 million to KFH and 51 million dinars to subsidiaries, the bank said in a statement to the stock exchange.
It did not give any details about the debtor, or say whether the customer was a corporate entity or an individual.
KFH is expected to release second-quarter earnings in August. (Reuters)
