Kuwait Finance House’s Turkish Unit Increases Profit 18%

Kuwait Finance House KSC (KFIN) said first- quarter profit at its Turkish unit, Kuveyt Turk Katalim Bankasi AS, rose 18 percent from a year earlier to 87 million lira ($47 million).

The Istanbul-based bank opened 25 new branches during the period, bringing the total to 183, the lender said today in an e-mailed statement.

To contact the reporter on this story: Daliah Merzaban in Dubai at dmerzaban@bloomberg.net

To contact the editor responsible for this story: Claudia Maedler at cmaedler@bloomberg.net

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