NIC achieves KD 23 million profits for the first nine months of 2021
- Date: 08-Nov-2021
- Source: Kuwait Times
- Sector:Financial Markets
- Country:Kuwait
NIC achieves KD 23 million profits for the first nine months of 2021
Hamad Al-Ameeri
* NIC achieved KD 22.352 million profits at 28.07 fils per share for the first nine months of 2021
* NIC maintained profits and distributable reserves of KD 44.401 million, constituting 55.65% of the capital
* NIC reported an excellent growth in total assets of 30.45%, approximately KD 278.208 million, compared to KD 213.266 million for the same period last year
* Total assets under management amounted to KD 1.129 billion at the end of Q3 2021, compared to KD 1.035 billion for the same period last year
* Other comprehensive income achieved an outstanding hike in Q3 2021, reaching KD 20.935 million, compared to KD 1.130 million for the same period last year
* Despite the unprecedented challenges the region witnessed, total shareholders’ equity amounted to KD 207.441 million while NIC distributed approximately KD 9 million of cash dividends to its shareholders in 2020
* An exceptional hike of 46.48% in the management, brokerage and advisory fee income that reached KD 5.881 million compared to KD 4.015 million for the same period of 2020
* The Q3 financial results reflect the ability of NIC to maintain the interests of clients, especially during the crisis and enhance its position as one of the largest investment companies