Kuwait Investment Company (KIC) earns 3.6 million dinars in the second quarter
KAMCO Invest, a leading regional non-banking financial services firm that manages assets on behalf of clients and ranks among the largest in the region, released its financial results for the period ended June 30, 2026. The company reported net profits of KD 3.6 million (earnings per share: 10.57 fils) for the second quarter, compared to net profits of KD 5.9 million (earnings per share: 17.28 fils) during the same period last year.
The strong performance in the second quarter helped offset losses recorded in the first quarter, enabling the company to return to profitability and close the first half of the year with a net profit of KD 0.3 million (earnings per share: 1 fils).
Despite ongoing geopolitical uncertainty, weak market sentiment, and a slowdown in economic activity, the company achieved robust growth in fee and commission income during the second quarter, rising 24% to KD 5.2 million, compared to KD 4.2 million in the same period of 2025.
Fee and commission income for the first half of the year increased to KD 8.5 million, up from KD 7.5 million in the corresponding period last year, representing a 14% growth.
Fee and commission income continued to be the company’s primary revenue source, accounting for 60.1% of total revenue in the second quarter and 82.8% in the first half of the year, underscoring the strength and sustainability of its recurring revenue business model.
In parallel, the company continued to enhance its operational efficiency. General and administrative expenses decreased by 31.4% in the second quarter to KD 4.5 million, and fell by 16.5% in the first half of the year to KD 9.2 million, compared to the same periods last year.
The first half of the year witnessed a noticeable deterioration in the macroeconomic environment due to escalating regional tensions, which negatively impacted global trade flows and investor sentiment.
The temporary closure of the Strait of Hormuz, along with broader challenges related to supply chains and logistics, heightened uncertainty regarding energy exports and economic growth prospects in the region. Additionally, the sharp rise in crude oil prices contributed to higher inflation rates, prompting global central banks to reconsider their rate-cutting policies, with growing expectations of potential rate hikes.
Gulf Cooperation Council (GCC) markets were directly affected, given the region’s pivotal role in global energy and petrochemical supplies.
Nevertheless, most Gulf stock markets managed to recover during the second quarter, recouping first-quarter losses and ending the first half of the year with gains.
The Dubai Financial Market led regional markets in the second quarter with a 9.6% increase, followed by Bahrain at 7.6%, and Kuwait at 3.4%.
KAMCO Invest continued to strengthen its strategic relationship with Bank Burkan, contributing to the provision of a broader and more integrated suite of financial services for clients.
As part of this collaboration, the company hosted the third edition of the Investment Conference, which has become a leading intellectual platform in Kuwait, bringing together top officials, policymakers, and investors from Kuwait and the region to discuss key global trends and explore promising investment opportunities.
As of June 30, 2026, the company’s managed assets reached USD 18.0 billion, maintaining its position among the top ten asset managers in the Middle East and North Africa region.
Forbes Middle East also ranked the company among the region’s top asset managers for 2026, recognizing its impressive track record and deep expertise in delivering diverse investment solutions that meet clients’ needs.
Equity and fixed-income managed portfolios continued to outperform their respective benchmarks, while the company’s equity funds maintained their competitive standing. The AKAMAK Investment Fund received the Lipper Fund Awards 2026, issued by the London Stock Exchange Group (LSEG), in six categories, in recognition of its outstanding performance over three-, five-, and ten-year periods.
In the alternative investments sector, which includes real estate, private equity, and structured products, the team continued to expand and diversify the investment solutions offered to clients. AKAMAK Invest signed a €300 million partnership agreement with Santander Alternative Investments to provide Sharia-compliant, income-generating investment opportunities in European private real estate financing for investors in the Gulf region.
The team also began executing capital calls for the co-managed leasing strategy with New York Life’s Flexiam Investment Management, and successfully completed the third income distribution to clients.
The banking investments team continued to provide advisory services to a number of clients on various transactions across equity capital markets, debt instruments markets, and mergers and acquisitions, with expectations of closing additional deals in the remainder of the year.
The team successfully managed two debt market issuances with a combined value exceeding $1 billion, and played a key role in the financial restructuring of the Diggit Group, as well as serving as the bookrunner and underwriting agent for a capital increase that was successfully completed with demand exceeding 21 times the offered shares, at a total value surpassing 127 million dinars.
Al Awani for Financial Brokerage, the company’s brokerage arm, continued to strengthen its competitive position and succeeded in attracting new clients from institutions and individuals, leveraging its electronic trading services.
AKAMAK Invest – Saudi Arabia and AKAMAK Invest – Dubai International Financial Centre (DIFC) continued to enhance their market presence through service development and greater contribution to the company’s core activities, particularly in asset management.
The company maintains a strong financial position, with total shareholders’ equity attributable to the parent company’s shareholders reaching 66.6 million dinars as of June 30, 2026.
Capital Intelligence Ratings (CIR) maintained the company’s long-term credit rating at BBB and its short-term rating at A3, with a stable outlook.
Commenting on the results, Sheikh Talal Ali Abdullah Al Sabah, Chairman of the Board, said: “The second quarter saw the company return to profitability, reflecting the resilience of our business model and its ability to navigate challenges despite a difficult operating environment. More importantly, the continued growth in recurring fee and commission revenues underscores the quality and sustainability of our earnings, reflecting the strength of our core business and the high level of trust our clients place in our expertise.”
On his part, Faisal Mansour Sarrouh, Chief Executive Officer, said: “We remain optimistic about the continued growth in fee and commission revenues, despite the challenges posed by the operating environment and the slowdown in economic activity. This comes alongside the ongoing implementation of efficient cost-reduction programs, which contributed to a double-digit decline in operating expenses.”
Sarkhouh added, “We look forward to further strengthening our strategic relationship with Bank AlBahrain in the coming period, with the aim of expanding our customer base and offering a more comprehensive range of integrated financial products and services. We will also continue to expand our partnerships with leading global investment managers to enhance our investment platform, provide high-quality investment opportunities, and deliver greater value to our clients.”
