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.