Kuwait Finance House, the country's leading Islamic bank, said Thursday its net profit in the first quarter of 2012 dropped 11.3 per cent compared to the same period last year. KFH posted a net profit of 20.1 million dinars (Dh265 million) in the first three months of this year compared to 22.6 million dinars in the same quarter of 2011, the bank said in a statement on the bourse's website. The drop in the first quarter profit came despite increases in assets and shareholders' equity. KFH said its assets as on March 31 increased 11.2 per cent to $51 billion (Dh187 billion) from $45.9 billion a year ago and its shareholders' equity rose marginally to $4.57 billion from $4.53 billion a year ago.
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