NIC holds analysts conference for 2021

NIC holds analysts conference for 2021

KUWAIT: National Investment Company (NIC) held its analysts conference for the year ended 31 December 2021. The conference was attended by Chief Financial Officer Girish S Nair, Senior Vice President for Investment Banking Sector Bashar Khan and Executive Vice President for Wealth Management Sector Almuthana Al-Maktoum. Al-Maktoum began the conference with a brief about the company and general overview about the positive results for 2021, which proved that NIC went through a year of distinguished performance and strong operational achievements, which strengthened its financial status.

This had a positive effect on maintaining strong financial status and assets of good quality, and the NIC’s ability to achieve sustainable growth due to the success of the company’s strategy and the team’s experience. Nair gave an overview of the financial highlights of NIC’s performance during 2021.

For the 12 months ending 31 December 2021, NIC reported a net profit of KD 24.4 million and earnings per share of 31 fils through the income statement and a gain of KD 25.6 million as other comprehensive income through shareholders’ equity.

The total comprehensive income for the period was KD 50 million. The total comprehensive gain was KD 1.1 million. Return on average equity and return on average assets were