In 2006, it increased net profits by 36.5% to $576.5m, expanded total assets by 34.8% to $22.5bn and improved Tier 1 capital by 21.5% to $2,684m. This produced a strong RoE of 27.6% in 2006, and the upward trend has continued this year with the current market share up to 24.5%, just below traditional market leader National Bank of Kuwait.
KFH established banks and investment companies in Algeria, Morocco, Jordan, China and Indonesia along with further expansion of operations in Malaysia, Turkey and Bahrain.
Mohammad Sulaiman Al-Omar, general manager of KFH, says: “I would like to thank The Banker and judges for their selection of Kuwait Finance House for the Bank of the Year Award for Kuwait. KFH has been honoured with many awards throughout its 30 years of operation, however, this award comes at a time when KFH has been continuously surpassing milestones of success on both the regional and international levels amid tough competition. We expect a continuation of our record earnings and growth in the future. We have just passed our local competitors to become the first bank in customer deposits.”
