KIPCO Achieves 1.5 Million KD Net Profit in Nine Months

Kuwait – Kuwait Investment Company (KIC) announced on Thursday that it achieved net profits of 1.5 million Kuwaiti dinars (approximately $4.8 million) in the first nine months of 2026, representing earnings per share of 4.3 fils. In a press release, the company stated that assets under management reached $17.3 billion as of September 30, 2026, reflecting a growth rate of 4.6 percent since the beginning of the year, thereby maintaining its position among the top ten asset managers in the Middle East and North Africa region. It further clarified that it continued to enhance its operational efficiency, as general and administrative expenses declined by 12.9 percent to 13.6 million dinars (approximately $43.6 million), compared to the same period last year.

The statement quoted KIC’s Chief Executive Officer, Faisal Sarakhou, saying, “We continue to record growth in fee and commission revenues, which reflects the strength of our core activities and the quality of our income sources, despite the challenges posed by the operating environment and the slowdown in economic activity.” He added that the company continued to implement cost-optimization programs efficiently, achieving a double-digit reduction in operating expenses, which enhances performance efficiency and supports profitability sustainability.

He noted that the company looks forward to further strengthening strategic relationships with Bank of Kuwait and the Middle East (Boubyan Bank) and leveraging the synergy between the two institutions to expand the customer base and enhance access to a broader range of financial and investment products and services. He also pointed to the continuation of consolidating partnerships with a select group of global asset managers, which will contribute to developing investment platforms, providing diverse and high-quality investment opportunities, and delivering solutions that meet customer aspirations and create sustainable value for them. (End) A.M.H.