NIC holds analysts conference for Q1 2022 financial results

NIC holds analysts conference for Q1 2022 financial results

KUWAIT: National Investments Company held its Analysts Conference for the first quarter of 2022, on Wednesday, May 18th, which was attended by Girish Nair, NIC’s Chief Financial Officer, Bashar Khan, Senior Vice President – Investment Banking Sector, Al-Muthana Al-Maktoum, Executive Vice President – Wealth Management Sector, who presented a brief about the company and shed light on the positive financial results achieved in Q1 2022, which reflect the company’s exceptional performance and strong operational achievements that led to maintaining and strengthening its financial position, high quality assets and its ability to achieve sustained growth, this is all due to the effective strategy and its competent and experienced team.

Financial position

The company has announced a net profit of KD 15.4 million with earnings per share of 19.3 fils per share and other comprehensive income of KD 19.1 million through shareholders’ equity, which translated into a total comprehensive income of KD 34.5 million for the first quarter of 2022. During the comparative period of 2021, a net profit of KD 3.8 million with earning per share of 4.7 fils was reported, the other comprehensive income was KD3.1 million and the total comprehensive income was KD 6.9 million.

Girish added that the return on average