DUBAI: Kuwait Finance House (KFH), the country's biggest Islamic lender, reported a 13.9 percent rise in first-quarter net profit, according to a statement on Sunday.

Net profit rose to 44.0 million dinars ($146 million) in the three months to March 31, from 38.6 million dinars in the same period a year ago, the statement said.

EFG Hermes forecast the lender would make a quarterly net profit of 42.2 million dinars. 

The bank said the increase in net profit for the period was due to a 12 percent rise in net operating income as a result of a growth in financing.

($1 = 0.3008 Kuwaiti dinars)

(Reporting By Tom Arnold; Editing by Elaine Hardcastle) ((Tom.Arnold@thomsonreuters.com; +97144536265; Reuters Messaging: tom.arnold.thomsonreuters.com@reuters.net))