Markaz achieved a net profit of KD 4.43 million in 2017 and the AGM approves cash dividend of 7 Fils per share

14/03/2018

Mr. Diraar Y. Alghanim, Chairman of Kuwait Financial Centre “Markaz” announced achieving a net profit attributable to shareholders of KD 4.43 million in 2017; an earning of 9 fils per share, compared to a net profit of KD 4.03 million, an earning of 8 fils per share in 2016, an increase of 10% over last year. In addition, the total operating income for the year increased by 11% reaching KD 15.40 million compared with KD 13.93 million for 2016. Markaz earnings continue to be robust due to its well-diversified asset allocation, strong track-record and expertise in asset management and investment banking activities, which continued to attract investors and investment banking clients.

Mr. Alghanim’s statement was announced at Markaz Annual General Meeting held on March 14, 2018, which approved cash dividend distribution at the rate of 7% of the nominal value of the share, i.e. 7 fils per share.

Mr. Alghanim added that Markaz’s total assets under management (AUM) reached to KD 1,027 million in 31st December 2017, compared to KD 935 million in December 2016, an increase of 10%.

About Kuwait Financial Centre “Markaz”

Established in 1974, Kuwait Financial Centre K.P.S.C “Markaz” is one of the leading asset management and investment banking institutions in the Region with total assets under management of over KD 1.03 billion as of 31 December 2017 (USD 3.40 billion). Markaz was listed on the Boursa Kuwait in 1997.

For further information, please contact:

Alrazi Y. Al-Budaiwi
Media & Communications Department
Kuwait Financial Centre K.P.S.C. "Markaz"
Tel: +965 2224 8000
Fax: +965 2246 7264
Email: [email protected]
www.markaz.com