KUWAIT: Kuwait Finance House (KFH), the Gulf state's biggest Islamic lender, announced 103 million Kuwaiti dinar or $362 million of "precautionary provisions" on Tuesday, as it posted a smaller than expected rise in second-quarter net profit.
The bank did not provide any more details on the provisions, which cover the first half of the year, nor a comparative figure for the same period the year before.
It added that indicators related to profit growth and operating revenues were positive.
Net profit rose to 26.8 million dinars in the three months ended June, KFH said in a bourse filing.
That compared with analysts' average forecast of 30.35 million dinars in a Reuters poll of four analysts.
The lender did not provide further details on its profit.
It said it would continue with its expansion plans after its 319 million dinar capital increase last month. (Reuters)
