Assets under control at KD €1,142 million, an accumulation of 8. 5% year-on-year
Kuwait: Kuwait Financial Center “Markaz” published its monetary effects for the nine months ended September 30, 2022 with total revenues of KD 11. 24 million, compared to KD 25. 20 million nine M 2021. This decline was basically attributed to the sharp decline in global equity markets due to inflation, emerging market interest rates, and persistent geopolitical instability. These points have higher recession risks and dubious trade prospects. Markaz achieved a net profit attributable to KD shareholders of 0. 53 million, compared to KD 13. 7 nine million at nine months of 2021.
President Diraar Yusuf Alghanim said: “The global economy continues to face significant pressures due to the ongoing war in Ukraine. Many countries are also facing the lingering effect of Covid 19 and government policies in reaction to its lockdown. Central banks have gradually raised interest rates to control inflation, with serious implications for business investment and customer spending. Together, those points have led to weak global GDP and declining output in G20 economies. Global inventory markets fell, the S index
In terms of company effects during the nine months of 2022, Markaz achieved an overall profit (excluding fair price investment loss) of KD 12. 18 million, up 12. 5% from the previous year. Growth driven by solid performance, with screening fees and commissions expanding 32. 7% to KD nine . 3 million compared to KD 7. 01 million in nine months of 2021. Our real estate investment procedure remains rigorous, focusing on the basics and proposing projects with inherent competitive advantages. In addition, we have executed a number of investments in bank mandates, adding equity issuances, bond issues and advisory services. We have expanded our market building business and lately cover 8 corporations in the Kuwait market. In addition, our real estate and equity budget exceeded benchmarks.
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About Kuwait Financial Center “Markaz”
Established in 1974, Kuwait’s monetary center K. P. S. C “Markaz” is one of the leading investment banking and asset control establishments in the MENA region with total assets under control of more than KD 1. 142 billion as of September 30, 2022 ($3. 67 billion). Markaz indexed on the Kuwait Stock Exchange in 1997. Over the years, Markaz has pioneered innovation through the emergence of new concepts that resulted in the creation of new investment channels. These channels have unique features and have helped Markaz broaden investors’ horizons. Examples come with Mumtaz (the first national mutual fund), MREF (the first real estate investment fund) and Forsa Financial Fund (the first and only market maker of GCC features since 2005), all conceptualized, established and controlled through Markaz. Markaz indexed on the Kuwait Stock Exchange in 1997.
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