KFH posts 0.9% returns on three-year KD deposit
6-mth USD returns 0.63 pct
KUWAIT CITY, March 3: Kuwait Finance House (KFH) announced the distributions of returns of various investment deposits that the bank offers its clients in foreign currencies, and the three-year deposit in Kuwaiti dinar for the Q4 of 2012 that ended on Dec 31, 2012. Investment returns were high, compared to returns in other currencies, despite hurdles in global financial markets.
Treasury Department Manager Abdul Wahab AlRoshoud stated that the three-year deposit in Kuwaiti dinar achieved 0.9% returns in Q4 2012, and noted that this rate is competitive compared to the rates of the market and the returns of other currencies. He added that the Kuwaiti economy is stable, and Kuwaiti banks are supported by the government, which attract investments in Kuwaiti dinar.
He went on to say that KFH offered competitive rates by the end of Q4 2012 on foreign currency deposits compared to the local and overseas markets, where the returns on US dollars during that period of time was 0.61%, while returns on US dollars for the past six months during that period was 0.63%, and 0.65% for nine months, while annual rate reached 0.67%.
KFH distributed returns on deposits in EU 0.14% by end of Q4, and the returns of six and nine months, and annual returns of depositors reached 0.15%.
Al-Roshoud noted that deposits in Sterling Pound reached 0.84% by end of Q4 of 2012, while returns for six months reached 0.87%, nine months 0.90%, and annual return for deposits in SP reached 0.92%. He explained that despite turbulences in global markets, the markets of the region remain a safe haven for local and overseas investors, due to governmental support and capital expenditure.