Tuesday, May 21, 2013
BEIRUT (Zawya Dow Jones)--Kuwait Finance House (KFIN.KW) on Tuesday said that it expects to realize a profit of 26.3 million dinars ($91.86 million) on the sale of a real estate property.
KFH, the Persian Gulf state's largest Islamic bank, said it has signed a preliminary contract with one of its customers to sell the property for KWD50 million.
The profit will be included in the financial results of the second or third quarters of this year once the remaining procedures are completed, the bank said in a statement posted on the Kuwait bourse website.
KFH shares closed up 1.3% at KWD0.800 on Tuesday.
Write to Shikrallah Nakhoul at shikrallah@zawya.com
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(END) Dow Jones Newswires
21-05-13 0950GMT
