Kuwait Finance House repays loans worth KD 2.5 million

Kuwait Finance House (KFH) Investment Company has fully repaid the outstanding balances of its drawn loan tranches, totaling 2.53 million Kuwaiti dinars. This includes 1.95 million dinars from credit facilities granted by a local bank. In a disclosure to the Kuwait Stock Exchange on Monday, the company stated that it also fully repaid drawn loan tranches amounting to 575,000 dinars from credit facilities granted by Al Mustaqbal Holding (a related party and major shareholder), leaving KFH Investment Company (the parent company of the group) free of financial loans from any external party outside the group. KFH noted that the financial impact of the loan repayments consists of a decrease in bank balances and cash by 2.53 million dinars, and a corresponding decrease in loans by the same amount, along with a savings in expenses amounting to 131,940 dinars in annual financing costs that the company would otherwise have incurred from those loans.