Kuwait Finance House (KFH`R)

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News

4 October 2020 00:38 PM NBK, KFH ink KWD 1bn credit facility agreement with KPC

Mubasher: The National Bank of Kuwait (NBK) and Kuwait Finance House (KFH) have signed a credit facility agreement worth KWD 1 billion with Kuwait Petroleum Corporation (KPC) to fund the KPC's capital expenditure. Under the agreement, the KFH …

Banking and Finance

7 May 2020 10:53 AM Kuwait C. bank asks KFH to reassess AUB’s acquisition

Mubasher: Kuwait Finance House (KFH) has received a letter from the Central Bank of Kuwait (CBK) on Tuesday, 5 May, requesting KFH to conduct a comprehensive reassessment of its acquisition of Bahrain’s Ahli United Bank (AUB). The reassessment …

Banking and Finance

4 May 2020 02:13 PM KFH terminates CEO contract

Mubasher: Kuwait Finance House (KFH) has rescinded the contract of the bank’s CEO Mazin Saad Al Nahedh effective Monday, 4 May, without a notice period. The board assigned Ahmad Saud Al Kharji to assume the duties and responsibilities of the CEO …

Board of Directors

13 April 2020 02:26 PM KFH approves 20 fils/shr dividends for 2019

Mubasher: The general assembly of Kuwait Finance House (KFH) on Monday approved the proposed cash dividend distribution of 20 fils per share or 20% of the share’s nominal value for the fiscal year (FY) 2019. A bonus share distribution of 10% of …

General Assembly

12 April 2020 03:49 PM KFH, AUB acquisition procedures delayed until December

Mubasher: The board of directors of Ahli United Bank (AUB) has approved suspending all acquisition offer procedures in Kuwait and Bahrain until December 2020 in coordination with Kuwait Finance House (KFH). The decision was subject to the Central …

Central Banks

23 March 2020 00:06 PM KFH amends timeline of AUB’s acquisition deal

Mubasher: Kuwait Finance House (KFH) has amended the timeline applicable to its acquisition offer of Bahrain’s Ahli United Bank’s (AUB) total issued share capital in response to Kuwait’s decision to suspend work in public entities until 12 April, …

Companies Investments

3 March 2020 00:38 PM Kuwait registers KWD 3.7bn real estate deals in 2019 – KFH

Mubasher: The real estate sector in Kuwait has continued its positive trajectory that started four years ago, as it recorded sale transactions worth KWD 3.7 billion in 2019, signalling the second-highest level since 2015.      Last year’s value …

Real estate

1 March 2020 03:10 PM KFH's takeover of AUB set to take place in May

Mubasher: Kuwait Finance House (KFH) announced that the initial offering of its acquisition offer for 100% of Ahli United Bank (AUB) capital shares will begin on 26 March 2020 until 15 April 2020, and could be extended.  The acquisition is set to …

Companies Investments

1 March 2020 09:49 AM KFH submits document for Bahrain’s AUB acquisition deal

Mubasher: Kuwait Finance House (KFH) has submitted the document for its acquisition offer for 100% of Ahli United Bank (AUB) capital shares. The step comes in line with the requirements of the regulatory authorities in Kuwait and …

Companies Investments

6 February 2020 01:45 PM KFH to change AUB’s name to ‘KFH Bahrain’ following merger

Mubasher: Kuwait Finance House (KFH) intends to change the name of Ahli United Bank (AUB) to Kuwait Finance House – Bahrain (KFH Bahrain) following the merger once the bank determines the proper timing. AUB will continue to operate normally and …

Companies Investments

5 February 2020 04:07 PM KFH officially submits acquisition offer to AUB

Mubasher: Kuwait Finance House (KFH) has submitted a letter of intent to Ahli United Bank (AUB) in regards to its proposed full takeover of AUB’s shares, in compliance with the requirements of regulatory authorities in Bahrain and Kuwait.    The …

Banking and Finance

2 February 2020 02:53 PM KFH partners with LinkedIn to bolster online presence

Mubasher: Kuwait Finance House (KFH) has entered into a strategic partnership with LinkedIn to promote its presence on the professional social network. The partnership will enable KFH to utilise the network’s large-scale suite of benefits, …

International Agreements

28 January 2020 05:26 PM KFH’s provisions rise to KWD 647.6m in 2019

Mubasher: Kuwait Finance House’s (KFH) sustainable profits accounted for 97% of the total profits recorded in 2019, compared to 92% in 2018, the group’s CEO Mazin Al-Nahedh said. The bank’s total provisions amounted to KWD 647.6 million at the end …

Banking and Finance

28 January 2020 05:03 PM KFH targets KWD 100m exits in 2020 - CEO

Mubasher: Kuwait Finance House (KFH) is projected to exit non-strategic assets worth KWD 100 million during 2020, the CEO, Mazin Saad Ali Al Nahedh, disclosed on Tuesday. he highlighted that total exits in 2019 amounted to KWD 137 million …

Management Decisions

27 January 2020 00:23 PM KFH logs 10.4% higher annual profits in 2019; dividends approved

Mubasher: The financial statements of Kuwait Finance House (KFH) revealed a net profit attributable to the owners of the parent company worth KWD 251.02 million ($828.32 million) over the fiscal year ended 31 December 2019, up by 10.4% …

Banking and Finance

27 January 2020 09:38 AM AUB says no official acquisition offer made by KFH to date

Mubasher: Ahli United Bank (AUB) announced that no significant developments concerning the proposed takeover of the bank of by Kuwait Finance House (KFH) have taken place until the present time.     It further added that no official acquisition …

Banking and Finance

24 January 2020 03:27 PM Moody's affirms ratings of KFH, AUB Kuwait

Mubasher: Moody's Investors Service has affirmed credit ratings of two Kuwaiti banks, according to a statement released on Friday. The global rating agency affirmed the A1 / Prime-1 long and short-term domestic and foreign currency deposit ratings …

Banking and Finance

20 January 2020 04:41 PM Kuwait Finance House’s shareholders approve capital raise to KWD 1.12bn

Mubasher: The extraordinary general meeting of Kuwait Finance House (KFH) approved to increase the authorised capital to KWD 1.118 billion. The capital increase will be made through the issuance of 4.2 billion shares at the share’s nominal value, …

General Assembly

20 January 2020 03:59 PM KFH, AUB merger to generate higher profits; BHB listing approved

Mubasher: The chairman of Kuwait Finance House (KFH), Hamad Abdulmohsen Al Marzouk stressed that the bank focuses on merger and acquisition opportunities, CNBC Arabia reported on Monday. He noted that KFH’s merger with Bahrain’s Ahli United Bank …

Companies Investments

8 January 2020 00:12 PM Kuwait records KWD 230m real estate deals in October 2019 - KFH

Mubasher: The real estate sale transactions in Kuwait decreased by 31.5% month-on-month (MoM) in October 2019 to stand at KWD 230 million, yet signalling below-average sales during the year, as the number of trading days marginally declined over …

Sector Reports

26 December 2019 01:43 PM KFH generates KWD 1.35m profit from sale of properties

Mubasher: Kuwait Finance House (KFH) achieved a net profit of KWD 1.353 million from the latest real estate auction held by Al Enmaa Real Estate Company, a subsidiary of KFH. Al Enmaa organised the auction on Monday, 23 December, to sell four …

Real estate

15 December 2019 05:18 PM KFH gains KWD 400k profit from Al Enmaa property auction

Mubasher: Kuwait Finance House (KFH) achieved nearly KWD 400,000 net profit from the latest real estate auction held by Al Enmaa Real Estate Company, a subsidiary of KFH. Al Enmaa organised the auction on Monday, 9 December, to sell four …

Companies Investments

5 December 2019 10:47 AM Moody’s affirms KFH’s credit ratings, ‘stable’ outlook

Mubasher: Moody’s Investors Service confirmed the credit ratings of Kuwait Finance House’s (KFH), and its “stable” long-term outlook, according to a bourse filing. The ratings agency left the domestic and foreign currency long-term and short-term …

Ratings

3 December 2019 01:39 PM Al Enmaa Real Estate rebuffs news of takeover bids

Mubasher: Al Enmaa Real Estate Company dismissed news that it received any acquisition proposals from strategic investors, according to its statement to Boursa Kuwait. Kuwait Financial House’s (KFH), Al Enmaa’s main stakeholder, also did not …

Company News

5 November 2019 02:05 PM KPC obtains KWD 350m financing from local banks

Mubasher: The National Bank of Kuwait (NBK) and the Kuwait Finance House (KFH) have jointly managed and issued a KWD 350 million ($1.2 billion) financing to the Kuwait Petroleum Corporation (KPC). The two banks were chosen by KPC to manage …

Sukuk and Islamic Finance