Sy..J.&14..=..J.J~ ~I - s3-eu-west-1.amazonaws.com · Finance House K.S.C.P. ("the Bank")...

6
~~I$~I.........,;.J.;J1 Group Chief Executive Officer Dale: 29 April 2018 13 shaban 1439 Ref: 23/1/130/2018 To: Boursa Kuwait Peace, Mercy and Blessings of Allah Subject: CBKApproval regarding KFH's Interim Condensed Consolidated Financial Information Q 1/2018 In reference to the above, and in interest of Kuwait Finance House "KFH" at adhering to the requirements of CMAExecutive Bylaws Book 10 (Disclosure and Transparency), KFHwould like to report the following: Central Bank of Kuwait has issued their approval regarding the KFH's Interim Condensed Consolidated Financial Information for Quarter 1 / 2018, The Analyst Conference will be conducted at 2 p.m. on Thursday 03 MAY2018 through live broadcasting on internet (Live Webcast), The Interested Parties could communicate with the bank via the Email ([email protected]) to obtain the invitation and other details. Attached is the 'Quarterly FSs Results' Form for the period ended as of 31 March 2018 that has been submitted to Capital Market Authority. .. ","II 10" •• ';11H II ~.,..... ~.,.... LId-! :; 11 Kuwait Finance House .. 1 ..•2018 J..J!! 29 :t-'.;\:ill A 1439 u~ 13 :01~1 23/1/130/2018 :'.J~)'1 u..fil ~.)J:I / O.ll..JI "':'\Sy..J.&1 4..=..J.J~ ~I (,?j.S~1 u....JS.11 .ill: ~I~ :t~~1 ~I ~I ~~I 4WI ~L.o~1 uk- 2018 dill &jlJ J,....,..:ill ~ LJ-o L..:..?.J ,.)l.el t~..,..JI ~J >..Ju'l'-! ~L.J\ y\....::,S]\ wi !ll;;_! (')j:ilYI ~ "~" ~fll ,JW\ -\ 1 ~ '... , ••..•~\ W)lJ1' (Uti.,.;:J1 L....:.!\I\) (j~ ~ -- l>" _ !J C f :~ ~ :;..lti'l\ ..lyi 4L..lI ,,:.A •• ,Jk.o.J1~ ~joJl u..fil ~ ~!J.o ~.).l.i.Q.l! e'...Jl (~) ~fil J,.,..,..:ul ~ ~I ~I ~joJI .2018 I"~ u.o JJ~I ~ y;.4-0 ~ cY..;h ~ ~ ~).o ~ ~ uy.. ~I I"~~ .llL: 2 ~l..JI I"W~ clJ:t9 Uj.}'j~1~ 1"411 1 ~I u~ ~..J ,2018 ~L. 03 J!\,-JI a.s) . ..:zl..ll ~\.i:jJ o."c..lll~ J~ clj,JI C'" ~\.g:;ll: . ([email protected]) C;J.J:lS.l~1 .l.l..;,J\ J~ u.o :;.c~'\' :L,h .. '\ UW\ <.::."ul.ull '\:ij" ~ .. <\ .~. ~ oc Q ~ _ co c::-' 1: """' \ U" Y' .l.l.JY f' l,?~\" "2018 0")..•31 ~ L.S ~\ "-:!lW\ .4.l.o ~ JW\ 1.3\.,.•. .1 ~ / :;..lUI Mazin Saad Alnahedh Group Chief Executive Officer ~Ul\ ~ 6jL.o ~ ••_.ll llii:ll\ ~.11 ~ ($ _ <Jo":!-l ..••••• KUWAIT FINANCE HOUSE, KSCP I State of Kuwait Headquarters Trade Registration No 260661 Paid Up Capital KD 634,226,291.100 POBox 24989, Safat 13110, Kuwait T, -965 22455862 - -965 224299431 F, -96522413920 E, [email protected] I www.kfh.com ""fl' <J,'.••• ~"J'.P"l'I1:d~'" ,•.••.• ."s:J'J,.~I~ cl.l 1H, Tq. 'r"/\" t~.ul JUI """J I n." ~J4o-<Jl..P.o--Jt ~;r ..:......fiJI. Il'\ \. ;;L.;.,.,..,J\. n"A\'.h./lf +'\10 rn InT' :.....!lj+'\10 'I'n 'l'\ll.,tT - +\10 THOOA'\'f:..:.. [email protected] '~J>'<1Y' "'"'->;1'

Transcript of Sy..J.&14..=..J.J~ ~I - s3-eu-west-1.amazonaws.com · Finance House K.S.C.P. ("the Bank")...

Page 1: Sy..J.&14..=..J.J~ ~I - s3-eu-west-1.amazonaws.com · Finance House K.S.C.P. ("the Bank") anditssubsidiaries (collectively "the Group") asat31March2018 andthe related interim condensed

~~I$~I.........,;.J.;J1Group Chief Executive Officer

Dale: 29 April 2018

13 shaban 1439

Ref: 23/1/130/2018

To: Boursa Kuwait

Peace, Mercy and Blessings of Allah

Subject: CBKApproval regarding KFH'sInterim Condensed ConsolidatedFinancial Information Q 1/2018

In reference to the above, and in interest of KuwaitFinance House "KFH" at adhering to therequirements of CMAExecutive Bylaws Book 10(Disclosure and Transparency), KFHwould like toreport the following:

Central Bank of Kuwait has issued theirapproval regarding the KFH's InterimCondensed Consolidated Financial Informationfor Quarter 1 / 2018,

The Analyst Conference will be conducted at 2p.m. on Thursday 03 MAY2018 through livebroadcasting on internet (Live Webcast), TheInterested Parties could communicate withthe bank via the Email([email protected]) to obtain theinvitation and other details.

Attached is the 'Quarterly FSs Results'Form for the period ended as of 31 March2018 that has been submitted to CapitalMarket Authority.

.. ","II 10" •• ';11H II~.,..... ~.,.... LId-! :; 11Kuwait Finance House .. 1

..•2018 J..J!! 29 :t-'.;\:ill

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. ([email protected]) C;J.J:lS.l~1 .l.l..;,J\ J~ u.o:;.c~'\' :L,h .. '\ UW\ <.::."ul.ull '\:ij" ~ .. <\ .~.~ oc Q ~ _ co c::-' 1: """' \ U"Y'

.l.l.JY f' l,?~\" "2018 0")..•31 ~ L.S ~\ "-:!lW\

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Mazin Saad Alnahedh

Group Chief Executive Officer

~Ul\ ~ 6jL.o

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KUWAIT FINANCE HOUSE, KSCP I State of Kuwait HeadquartersTrade Registration No 260661 Paid Up Capital KD 634,226,291.100POBox 24989, Safat 13110, KuwaitT, -965 22455862 - -965 224299431 F, -96522413920E, [email protected] Iwww.kfh.com

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Financial Quarter Ended on 31/03/2018

~.pJI~~I~Kuwait Finance House

Comeanr- !\lame ;i,S:::;:::J1 ••.•..•\Kuwait Finance House (K.S.C.P) (t 21 ') ';:fill J,yo:iJ\ w,;;. . .t.r...>'

Boarct of Directors Meeting Date 'J~YI~ t4' t~09/04/2018

.Lullu ..Statement

/11 ;i,S~I ~L.....; (Jo"W' ,) .•..;JlfC"i)\ ~\..",

Net Profit (Loss) represents the amount13.9% 38,587,947 43,965,025 attributable to the owners of the parent

Company(vd!) 4.ih.JIJ ~L...':il ~, ,)....:,./~-J

13.9% 6.17 7.03 Basic & Diluted Earnings per Share (fils)'JJI~I wb Y."yJl

(1.3%) 9,451,937,099 9,329,536,633 Current AssetswbY."yJ\ .)4)

5.6% 16,444,595,240 17,370,897,843 Total Assets'JJI~I w\.;)h.J\

5.4% 10,325,051,697 10,887,581,538 Current liabilitiesw\.;)h.J1 .)4!

6.4% 14,465,611,283 15,391,257,050 Total liabilities/'1,-.s~I...•.•.•~ L.~I ~I <3""".)4)

1.5% 1,751,201,700 1,778,259,056 Total Equity attributable to the owners of theParent Company

;;h- ',il\ wbl..>.!)".)4!12.2% 168,613,939 189,113,996 Total Operating Revenue

~I (, l...iJ1) )1 ~\..",-- -J C"i11.7% 98,720,659 110,301,929 Net Operating Profit (Loss)

t.,i.wl J.,..!Ir...>'1-J(4hy (.)L....;,,)C\,;)23.59% 19.51% Retained Profit (Loss) / Paid-Up Share Capital

Quarterly Financial Statement (Q I)Kuwaiti Company (KWD)

KUWAIT FINANCE HOUSE. KSCP 1 State 01 Kuwait HeadquartersTrade Registration No 260661 Paid Up Capital KD634,226,291.100PO Box 24989. Salat 13110. Kuwait 1T, '965 18007001 F, '965 2245 5135E, [email protected] 1 www.kfh.com

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[email protected] .,;~, ~-"'"C(;

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- -"II 1.--":11 -!':!.,...... w:: ~ E...I:HKuwait Finance House

• • _, • ~ '_ ~_ , ~. - : • •. I ~_ " , •• • • ''' •••......" • • - - .,. ." -., "'1

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- The increase in net profit for the periodattributable to the shareholders of the bankcompared to the same period last year is due tothe increase in net operating income by 12%,which resulted mainly from the increase in netfinancing income by 38% as a result of growth inthe financing portfolio.

1,748,766

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• Auditor Report Attached

Quarterly FinancialStatement (Q I)Kuwaiti Company (KWD)

KUWAIT FINANCE HOUSE. KSCP 1 State 01 Kuwait HeadquartersTrade Registration No 260661 Paid Up Capital KD 634,226,291.100PO Box 24989, Salat 13110. Kuwait I T, -965 1800700 IF, -965 2245 5135E: [email protected] Iwww.kfh.com

2

8,120,669

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22452880 I 2295 5000 .•••• 1.1

22456419 ..,..5l<[email protected]/me

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EYBuildinga betterworkingworldErnst & YoungAI Aiban, At Osaimi & PartnersP.O. Box 7418-2151 Floor, Baitak TowerAhmed AI Jaber StreetSafat Square 13001, Kuwait

Tel: +965 2295 5000Fax: [email protected]/mena

Deloille.De/oitte & ToucheA'-Wazzan & Co.

AhmedAI-JaberStreet, SharqDarAI-AwadiComplex,Floors 7 & 9P.O. Box20174, Safat 13062Kuwait

:rei: + 965 22408844, 22438060Fax: + 965 22408855, 22452080www.deloilte.com

REPORT ON REVIEW OF INTERIM CONDENSED CONSOLIDATED FINANCIALINFORMATION TO THE BOARD OF DIRECTORS OF KUWAIT FINANCE HOUSE K.S.C.P.

IntroductionWe have reviewed the accompanying interim condensed consolidated statement of financial position of KuwaitFinance House K.S.C.P. ("the Bank") and its subsidiaries (collectively "the Group") as at 31 March 2018 and therelated interim condensed consolidated statements of income, comprehensive income, changes in equity and cashflows for the three months period then ended. The management of the Group is responsible for the preparation andpresentation of this interim condensed consolidated financial information in accordance with the basis of presentationset out in Note 2. Our responsibility is to express a conclusion on this interim condensed consolidated financialinformation based on our review.

Scope of ReviewWe conducted our review in accordance with International Standard on Review Engagements 2410, "Review ofInterim Financial Information Performed by the Independent Auditor of the Entity". A review of interim financialinformation consists of making inquiries, primarily of persons responsible for financial and accounting matters, andapplying analytical and other review procedures. A review is substantially less in scope than an audit conducted inaccordance with International Standards on Auditing and consequently does not enable us to obtain assurance that wewould become aware of all significant matters that might be identified in an audit. Accordingly, wc do not express anaudit opinion.

ConclusionBased on our review, nothing has come to our attention that causes us to believe that the accompanying interimcondensed consolidated financial information is not prepared, in all material respects, in accordance with the basis ofpresentation set out in Note 2.

Report on Other Legal and Regulatory RequirementsFurthermore, based on our review, the interim condensed consolidated financial information is in agreement with thebooks of account of the Bank. We further report that, to the best of our knowledge and belief, we have not becomeaware of any violations of the Companies Law No. I of20 16, as amended and its executive regulations, as amendedor of the Bank's Articles of Association and Memorandum of Incorporation, as amended, during the three monthsended 31 March 2018 that might have had a material effect on the business of the Bank or on its financial position.

We further report that, during the course of our review, to the best of our knowledge and belief, we have not becomeaware of any violations of the provisions of Law No. 32 of 1968, as amended, concerning currency, the Central Bankof Kuwait and the organisation of banking business, and its related regulations, during the three months period ended31 March 2018 that might have had a material effect on the business of the Bank or on its fi ancia osition.

c,~

WALEED A AL OSAIMILICENCE NO. 68 AEYAL AlBAN, AL OSAIMI & PARTNERS

9 April 2018Kuwait

BADER A. AL-WAZZANLICENCE NO. 62A \DELOITTE & TOUCHEAL-WAZZAN & CO.

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