Boursa Kuwait records 60.67% jump in its net profit for the first quarter

Boursa Kuwait records 60.67% jump in its net profit for the first quarter

KUWAIT: In yet another testimony to the success of the private sector in enriching the stock exchange, one of the most important financial institutions in Kuwait, as well as its long term strategy to develop Kuwait’s capital market, Boursa Kuwait announced strong financial results for the first quarter of 2022, recording a significant jump of 60.67 percent in net profit (Attributable to the Equity Holders of the Parent Company) from KD 3.26 million in the first quarter of 2021 to KD 5.25 million in the first quarter of 2022. Meanwhile, the company’s earnings per share recorded an increase of 60.67 percent from 16.26 fils in the first quarter of 2021 to 26.13 fils in the first quarter of 2022.

Total operating revenue for the period increased to KD 8.79 million, an increase of 29.76 percent from KD 6.77 million in Q1 2021. Operating profit soared 65.67 percent from KD 3.81 million to KD 6.32 million, while total assets amounted to KD 121.4 million, up 9.95 percent from KD 110.42 million a year ago.

Despite the challenges stemming from the uncertainties in the global economic scene, Boursa Kuwait recorded an exceptional performance this quarter, building on the tremendous growth in trading value, which