Exchange companies' profits surge 110% to KD 31.4 million in the first half
Net profits of exchange companies jumped by approximately 110.5 percent, equivalent to 16.52 million dinars, rising to 31.48 million, compared to 14.951 million in the same period of 2025.
According to data from the Central Bank of Kuwait, revenues of the 31 exchange companies increased by 43.28 percent, or 20.1 million, to reach 66.565 million, up from 46.457 million. The data indicate that currency sales revenues were the primary driver of this significant growth, surging by 51.2 percent, or 20.35 million, to 60.14 million from 39.782 million, thereby accounting for 90.3 percent of the sector’s total revenues.
Bank interest income also rose by 26.2 percent to 553.3 thousand, from 438.5 thousand. Meanwhile, other revenues declined by 5.8 percent, or 364.9 thousand, to 5.871 million, compared to 6.236 million.
Revenue growth covered the increase in operating costs and expenses. Other expenses and charges rose by 11.3 percent, or 3.578 million, to 35.083 million, from 31.5 million. Administrative and banking expenses accounted for 83.6 percent of this total, reaching 29.325 million, an increase of 14.1 percent, or 3.62 million, from 25.699 million. Bank interest expenses increased by 15 percent, equivalent to 107.5 thousand, to record 824.8 thousand, compared to 717.3 thousand.
Provisions by exchange companies during the first six months of 2026 decreased by 1.36 percent, or 62.3 thousand, to 4.518 million, compared to 4.58 million. Other expenses fell by 18.2 percent, equivalent to 92.6 thousand, to 415.8 thousand, from 348.3 thousand.
Assets of exchange companies in the first half of the year rose by 11.9 percent, or 49.3 million, to 343.5 million in June, compared to 306.9 million in December last year. This was driven by a substantial increase in claims on financial institutions, which surged by 87.8 percent, or 54.3 million, to 116.1 million, from 61.8 million. Other assets increased by 2 percent to 44.9 million, and accounts payable rose by 40.8 percent to 6.9 million.
Conversely, foreign assets, which accounted for 34.8 percent, declined by 23.7 million to 91.7 million, from 108.2 million. Fixed assets fell by 2.1 percent to 36.7 million, and cash and cash equivalents decreased by 6.15 percent to 44.2 million, from 47.1 million. Financial and real estate investments also dropped by 9 percent to 3 million.
