KUWAIT CITY, November 12: Kuwait Financial Centre “Markaz” (KSE: Markaz, Reuters: MARKZ.KW, Bloomberg: MARKAZ: KK) reported its financial results for 9M 2024 with Total Revenues of KD 14.92 million with an increase of 6.25%, as compared to Total Revenues of KD 14.04 million in 9M 2023. Net Profit attributable to shareholders of Markaz was KD 3.35 million for Jan-September 2024, compared to KD 0.71 million in the same period last year.

Mr. Ali H. Khalil, Markaz’s CEO, stated: “The Kuwaiti market witnessed a positive performance in Q3-2024, driven by strength in key sectors and positive corporate earnings. The political landscape remains stable, with continued focus on economic reforms and project implementation. The GCC Markets witnessed a similar performance for key sectors and due to the positive corporate earnings. The global investment landscape remains uncertain due to heightened geopolitical tensions.”

Mr. Abdullatif W. Al-Nusif, Managing Director, Wealth Management and Business Development at Markaz, stated: “Markaz is delighted to report that Assets Under Management amounts to KD 1.39 billion as of 30 September 2024, compared to KD 1.16 as of 30 September 2023 that has increased by 19.84%. Strategic initiatives undertaken across asset management and investment banking underscore our commitment to client satisfaction and innovation. By being both results driven and prioritizing continuous improvement, Markaz continues to enhance both operational best practices and underlying profitability. Looking ahead, Markaz is well placed to not only meet but exceed client expectations in a rapidly evolving financial landscape.”