NIC achieves KD 23 million profits for the first nine months of 2021

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