Zain Group 2nd quarter 2022 net profit soars 22% to reach KD 50mln (USD 165 mln)

Zain Group 2nd quarter 2022 net profit soars 22% to reach KD 50mln (USD 165 mln)

Impressive revenue growth of 14% for Q2 2022, reaching KD 421m (USD 1.4 billion)

Chairman, Ahmed Al Tahous: “Board focused on driving sustainable shareholder value through strong ESG practices, diligent investments in network and new lucrative business verticals”

Vice-Chairman & Group CEO, Bader Al-Kharafi: “Robust financial and operational performance across key markets reassures Board to declare a half-year dividend of 10 fils per share”

Data Revenue grew 3% to represent 40% of Group Revenue for H1 ‘22

Kuwait, KSA and Sudan record double-digit growth in revenue and net profit

21% revenue growth in Enterprise business, ZainTech enters many strategic partnerships

Zain applies to launch a digital bank in Kuwait with Boubyan Bank and other investors

Focus on FinTech, Digital Operator entities, API platform and esports initiatives paying off

Kuwait City: Zain Group, a leading telecommunications innovator operating in seven markets across the Middle East and Africa, announces its consolidated financial results for the six months to June 30, 2022. Zain served 51.7 million customers at the end of the period, a 7.1% increase year-on-year (Y-o-Y).