Kuwait Finance House says client settles $297m debt

Posted by on Jul 2nd, 2013 and filed under Islamic Finance. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry

Kuwait Finance House said on Monday that a customer had settled $296.6 million of debt owed to the bank and that the impact of the receipt would be reflected in its second-quarter results. The customer had owed 32.6 million dinars or $114.3 million to KFH and 51 million dinars to subsidiaries. KFH did not give any details about the debtor, or say whether the customer was a corporate entity or an individual. The bank is expected to release second-quarter earnings in August.


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