DUBAI: Kuwait Finance House (KFH), the country’s biggest Islamic lender, reported a 17.1 percent rise in second-quarter net profit according to Reuters’ calculations, in line with analysts’ expectations

Net profit rose to 43.1 million dinars ($142.2 million) in the three months to June 30, from 36.8 million dinars in the same period a year ago, Reuters calculated from the six month results released on Sunday, in the absence of a quarterly breakdown.

EFG Hermes forecast the lender would make a quarterly net profit of 39.3 million dinars, while Arqaam Capital forecast a net profit of 46.0 million dinars.

The bank, which owns 62.2 percent of Turkey’s Kuveyt Turk Participation Bank, is undergoing a restructuring of some of its units ahead of a planned divestment by its largest shareholder, the Kuwait Investment Authority.

For the first half of 2017, the bank reported a net profit of 81.6 million dinars, compared to 70.9 million dinars in the same period of 2016.—Reuters