Mubasher: Kuwait Finance and Investment (KFIC) has reached an agreement with one of its default clients since 2010.

The company has settled and rescheduled a debt value of nearly KWD 855,100, according to a bourse statement on Wednesday.

KFIC noted that the client will repay KWD 450,000 to the company, while the remaining KWD 405,100 will be rescheduled.

This debt settlement will generate a profit of about KWD 207,000 in addition to a decline of KWD 855,100 in the non-performing loans (NPLs) in KFIC’s credit portfolio.