Kuwait's KFH fourth quarter profit falls 29 percent

Quarterly profit at Kuwait Finance House, the Gulf state's biggest Islamic lender, fell 29.2 percent, missing analysts' forecasts. The lender made 8.7 million dinars ($31.13 million) in the three months to December 31, Reuters calculated, compared with 12.3 million dinars in the prior-year period.
Two analysts polled by Reuters had estimated an average fourth-quarter profit of 36.4 million dinars. Reuters calculated fourth-quarter earnings figures from previous financial statements. KFH reported a full-year net profit of 106 million dinars on Sunday, compared with 118.7 million dinars in 2009, it said in a statement to Kuwait bourse. Nine-month net profit to September 30 stood at 97.3 million dinars.