Kuwait Investment Company (KIC) earns 1.5 million dinars in 9 months
Kuwait Investment Company (KIC) announces profits and agrees to change its name to Burqan Capital, strengthening its relationship with Burqan Bank
Translated by Qiyas from الراي — Original source
KAMCO Invest, a leading regional non-bank asset management firm, released its financial results for the period ended September 30, 2026, reporting net profits of 1.5 million Kuwaiti dinars, or 4.43 fils per share, compared to 7.9 million dinars and 23.07 fils per share during the same period last year. Positive performance in the second and third quarters helped offset first-quarter losses caused by a sharp decline in financial markets.
The company achieved strong growth in fee and commission income, which rose 19.3 percent to reach 13.7 million dinars, compared to 11.5 million dinars in the same period in 2025. Fee and commission income accounted for 81.4 percent of total revenues, which reached 16.9 million dinars. The company continued to enhance its operational efficiency, with general and administrative expenses decreasing by 12.9 percent to 13.6 million dinars.
KAMCO Invest strengthened its strategic relationship with Bank Al-Bilad, enabling the provision of a broader and more integrated range of financial services to clients. The company’s board of directors proposed changing its name to Al-Bilad Capital for Investment, and the General Assembly, held on November 8, approved the proposal.
Assets under management reached $17.3 billion as of September 30, 2026, representing a 4.6 percent growth since the beginning of the year, maintaining the company’s position among the top 10 asset managers in the Middle East and North Africa region. Additionally, Forbes Middle East ranked KAMCO Invest among the leading asset managers in the region in 2026.
The equity funds managed by the company maintained their competitive standing, with the KAMCO Investment Fund receiving the Lipper Fund Awards 2026, issued by the London Stock Exchange Group (LSEG), in six categories, recognizing its outstanding performance over three, five, and ten years.
The Investment Banking team successfully managed five issuances in debt markets with a total value exceeding $1.5 billion. Demand exceeded the size of the offered shares by 21 times, with a total value surpassing 127 million dinars.
Al-Awla for Financial Intermediation, the company’s financial intermediation arm, attracted new clients from institutions and individuals, leveraging its electronic trading services. Total shareholders’ equity attributable to the parent company’s shareholders reached 67.5 million dinars as of September 30, 2026. Capital Intelligence Ratings Agency 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, Chairman Sheikh Talal Al-Ali Al-Sabah stated: “The company continued to generate profits in the third quarter, reflecting the robustness of its business model and its ability to adapt to challenges amid a difficult operating environment. The sustained growth in recurring fee and commission income underscores the quality and sustainability of our revenue sources, highlighting the strength of our core activities and the renewed confidence of our clients in our expertise and investment capabilities.”
On his part, CEO Faisal Sarakhouh said: “We continue to record growth in fee and commission income, reflecting the strength of our core activities and the quality of our revenue sources, despite the challenges posed by the operating environment and the slowdown in economic activity. We also continued to implement cost-reduction programs efficiently, achieving a double-digit decrease in operating expenses, thereby enhancing performance efficiency and supporting profitability sustainability.”
Sarkhah added, “We look forward to further strengthening our strategic relationship with Bank AlBilad during the upcoming phase, and leveraging the synergy between the two institutions’ capabilities to expand our customer base and enhance their access to a broader range of financial and investment products and services. We will also continue to deepen our partnerships with a select group of global investment managers, which will contribute to the development of our investment platform, provide diverse and high-quality investment opportunities, and deliver solutions that meet our clients’ aspirations and create sustainable value for them.”
