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 properties owned by KFH, according to a bourse statement released on Thursday. The bank’s share in the properties stands at 100%.
KFH said that the profits made in the auction will be announced in its financial statements for the fourth quarter of 2019.
Noteworthy to mention, during the end of the third quarter of 2019, KFH’s profits have increased by 12.1% to reach a value of KWD 82.83 million, while in the first nine months of the year, profits increased by 12.7% year-on-year (YoY) to KWD 190.5 million.
