NIC records net profit of KD 1.1m at 1.3 fils per share in Q1 of 2023

NIC records net profit of KD 1.1m at 1.3 fils per share in Q1 of 2023

KUWAIT: National Investments Company (NIC) revealed its financial results for the first quarter of this year, including a detailed analytical presentation on its performance and financial position for 2023.

In a statement to the press, NIC Chairman Bader Nasser Al-Kharafi said the company’s financial results for the first quarter of this year were supported by maintaining operations via executing a range of mergers, acquisitions, sales, restructurings and various advisory services leading to positive results despite adverse fluctuations in the capital markets both in Kuwait and the region.

As one of the largest investment companies in Kuwait and the region and operating for more than three-and-a-half decades, NIC achieved outstanding successes within its multiple activities as a result of its ability to overcome all crises and exceptional situations, in addition to its ability to preserve the interests of its clients with high efficiency.

Al-Kharafi reviewed the financial results achieved by the National Investments Company during the first quarter of 2023. The company earned a net profit of KD 1.1 million at 1.3 fils per share, explaining that the reasons for the decrease in net profit is due to the change in interest rates in the region and the world, which led to a negative