Kuwait Finance House (KFH) Group Chief Executive Officer, Khaled Yousef AlShamlan, said that all key financial indicators for KFH showed an overall increase in 2024 compared to the previous year. He added that KFH maintains its net profit leadership within the Kuwaiti banking sector, with a net profit of approximately KD 601.8 million attributable to the bank's shareholders for 2024, representing a 3% increase compared to 2023.

In an interview with CNBC Arabia TV, AlShamlan added that net financing income reached around KD 1.15 billion; an increase of nearly 18.7%.

AlShamlan stated that total operating income increased due to the surge in all core activities, reaching over KD 1.6 billion, an increase of 11.6%. Meanwhile, net operating income reached over KD 1 billion, an increase of 9%, “This increase confirms KFH’s successful strategy, solid capital base, and strong operating performance,” he added.

He said: “The acquisition of Ahli United Bank – Bahrain contributed to KFH Group’s strong profits in recent financial periods, making them the highest in the Kuwaiti banking sector. KFH also led all banks and companies listed on Boursa Kuwait with a market capitalization of approximately KD 13.4 billion (around USD 43.6 billion). Furthermore, KFH was ranked among the top five MEA banks by market capitalization in the latest S&P rankings,” He emphasized the ongoing commitment to maintaining KFH’s leading position locally, regionally, and globally.

AlShamlan revealed that Group non-performing financing (NPF) ratio reached roughly 1.74% (as per CBK calculation) and provisions coverage ratio for KFH-Kuwait is approximately 343% and about 275% for the Group.

Regarding the new visual identity of Kuwait Finance House, AlShamlan explained that it aligns with global trends and the institution's developed vision, opening new opportunities and horizons for growth and future expansion. It embodies a strong focus on technology and digitization while maintaining adherence to Islamic banking values.

He emphasized the importance of the Egyptian market to the Group, highlighting its significance and promising growth opportunities. AlShamlan noted that KFH's presence in Egypt represents a historic milestone that will significantly contribute to the development of Islamic banking and strengthen the national economy, leveraging KFH's expertise and leadership in the field.

Meanwhile, the Board of Directors considered the distribution of cash dividends to shareholders of 22% (including 10% in H1 2024). The Board of Directors also considered the distribution of bonus shares of 8% after the approval of the General Assembly and the competent authorities.

It is worth noting that the capital adequacy ratio reached 19.89% as of December 31, 2024, compared with 18.18% as of December 31, 2023.  This demonstrates KFH`s strong capital base.