Kuwait Financial Centre “Markaz” [KSE: Markaz, Reuters: MARKZ.KW, Bloomberg: MARKAZ: KK] announced a net profit attributable to shareholders of KD 2.88 million, an Earnings per Share (EPS) of 6 Fils, as compared with a 2014 net profit of KD 4.02 million, an Earnings per Share (EPS) of 8 Fils. Markaz’s total assets under management (AUM) reach KD1.03 billion as of December 31st, 2015.
Photo caption: Markaz Logo
Markaz’s financial leverage ratio stood at 0.32:1, in comparison to the CBK imposed ratio of 2:1, which indicates Markaz’s low leverage rate. The quick ratio was at 42.17% versus the CBK mandate of a minimum of 10%. These percentages reflect Markaz’s ability to maintain a highly liquid and flexible balance sheet in order to achieve sustainable results.
In December 2015, Capital Intelligence (CI), an international rating agency, affirmed Markaz bonds as BBB with “Stable” outlook. CI attributed the rating to the Company’s low leverage; diversified investments holdings; sustained growth of revenue from its asset management activities; and the increasing contribution and promising prospects of its direct real estate investments. The rating also reflects Markaz's well-established franchise and its conservative business model. The bond will mature in December 2016 and Markaz enjoys sufficient liquidity to repay the bond and a number of options to refinance the repayment of the bond.
The company’s performance continued to attract recognition from experts in the region’s financial industry in 2015. Markaz was awarded “Best Equity Manager in Kuwait” by Global Investor for the sixths consecutive year and “Best Asset Manager in Kuwait” from EMEA Finance. Markaz was also recognized twice in 2015 as “Best Investment Bank in Kuwait” by Global Finance and EMEA Finance.
-The End-
###
About Kuwait Financial Centre “Markaz”
Kuwait Financial Centre K.P.S.C “Markaz”, established in 1974, is one of the leading asset management and investment banking institutions in the Arabian Gulf Region with total assets under management (AUM) of over KD1 billion as of December 31, 2015 (US3.44 billion). Markaz’ shares are listed on the Kuwait Stock Exchange (KSE) since 1997.
For further information, please contact:
Osama Al Musallam
Senior Officer
Media & Communications Department
Kuwait Financial Centre K.P.S.C "Markaz"
Tel: +965 2224 8000 ext 1819
Dir: +965 2224 8075
Fax: +965 2241 4499
Email: [email protected]
www.markaz.com