Profits of 31 Exchange Companies Surge 90% to KD 44.76 Million in 9 Months

Profits of 31 exchange companies operating in the local market surged by 90%, amounting to 21.2 million dinars, to reach 44.76 million dinars by the end of the first nine months of 2026, compared with 23.56 million dinars during the same period in 2025, amid notable revenue growth and a deceleration in the pace of expense increases. This profit growth, according to data from the Central Bank of Kuwait, was driven by a 35.8% rise in total revenues, valued at 25.29 million dinars, bringing them to 95.877 million dinars by the end of the January–September 2026 period, compared with 70.58 million dinars during the corresponding period in 2025.

In terms of revenue breakdown, currency sales revenues accounted for the largest share of total income, rising by 43.7%, or 26.535 million dinars, to reach 87.236 million dinars during the first nine months of 2026, compared with 60.70 million dinars in the same period of 2025. This item reflects returns from foreign currency buying and selling operations, which constitute the core activity of exchange companies, and its growth indicates higher revenues generated from this activity during the period.

Bank interest income also increased by 20.31%, amounting to 139,000 dinars, to reach 823,300 dinars during the first nine months of 2026, compared with 684,300 dinars in the corresponding period of 2025. These revenues represent the returns companies earn on funds deposited in banks.

Conversely, other revenues declined by 15.01%, or 1.38 million dinars, to reach 7.818 million dinars by the end of the first nine months of 2026, compared with 9.199 million dinars during the same period in 2025.

On the expense side, costs rose by 8.7%, amounting to 4.093 million dinars, to reach 51.115 million dinars by the end of the first nine months of 2026, compared with 47.023 million dinars during the same period in 2025, keeping the growth rate of expenses lower than that of revenues. Administrative and banking expenses, which include costs related to the daily operational management of companies and their banking charges, increased by 10.39%, or 3.958 million dinars, to reach 42.052 million dinars by the end of the first nine months of 2026, compared with 38.094 million dinars in the corresponding period of 2025.

Bank interest expenses also rose by 41.7%, amounting to 463,900 dinars, to reach 1.574 million dinars by the end of the first nine months of 2026, compared with 1.110 million dinars during the same period in 2025.

In contrast, provisions decreased by 5.68%, or 397,700 dinars, to reach 6.6 million dinars by the end of the first nine months of 2026, compared with 6.997 million dinars in the corresponding period of 2025.

Other expenses increased by 8.32%, amounting to 68,300 dinars, to reach 888,400 dinars by the end of the first nine months of 2026, compared with 820,100 dinars during the same period in 2025.