Kuwait Finance House says Turkey financing portfolio is stable

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DUBAI – Kuwait Finance House (KFH)<KFH.KW>, the country’s second-biggest lender by assets, said on Tuesday that its Turkey financing portfolio is stable and diversified between the Turkish lira and major foreign currencies.

The Turkish lira has gone into freefall over concerns about the direction of monetary policy under President Tayyip Erdogan and Turkey’s worsening relations with the United States.

KFH’s Turkish business operates through more than 400 branches and has nearly 6,000 employees.

The Kuwaiti lender said it was closely monitoring events in Turkey and that it continues to achieve strong and continuous growth rates at all levels of the financing portfolio.

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