Kamco Invest reports a net profit of KWD7.1mn for the first half of 2025
Total revenue stood atKWD19.0mn, an increase of 48.2% compared to the same period of 2024, whereas fee and commission income reached KWD7.5mn (6M 2024: KWD8.1mn).The rise in total revenue was primarily driven by the performance of the Company's investment portfolio, supported by one-off proceeds from a legal case ruled in the Company's favor.
Assets under management grew by 7.5% to reach USD17.1bn as of 30June 2025, due to new money raised in various products during the period, as well as the performance of portfolios and funds. Kamco Invest maintained its ranking amongst the ten largest asset managers in the MENA region, according to Forbes Middle East. The Company enjoys a strong track record and deep expertise in delivering diverse investment solutions to its clients.
Managed portfolios continued to outperform their respective benchmarks, while the Company's equity funds maintained their positions amongst the top performing funds in Kuwait and Saudi Arabia, based on the fund disclosures published on Boursa Kuwait and Tadawul websites.
As forAlternative Investments, which includes real estate, private equity and structured products, the team continued to expand its range of offerings to provide clients with added value. During the period, Kamco Invest finalized the acquisition of a 60% majority stake in European Green Logistics Space (EGLS), a company specializing in the development, investment, and management of logistics assets in Europe. This acquisition reflects Kamco Invest's commitment to growing its recurring fee income while unlocking value-adding opportunities for regional clients in the sustainable logistics sector.
Furthermore, the Company successfully exited its investment in Yargici, a leading Turkish fashion and accessories brand held by one of Kamco Invest's private equity funds, through a sale to TIMS Group, a diversified Turkish business group with operations in content production, tourism, construction, and land development. The exit highlights Kamco Invest's commitment to delivering long-term value to its clients while ensuring the continued growth and success of its portfolio companies.
The Investment Banking team continued to advise clients on several transactions across equity capital markets, debt capital markets, and M&A, with deals expected to close during the year. During the six-month period, the team advised OSN Group on the sale of a 30% stake of its subsidiary, OSN Streaming Ltd., to Warner Bros. Discovery for USD57mn. The team also acted as Joint Lead Manager on five bond and sukuk issuances totaling USD2.3bn for regional banks and institutions across Kuwait, Saudi Arabia, UAE, and Qatar.
First Securities Brokerage Company, Kamco Invest's brokerage arm, continued to strengthen its competitive position and attracted new clients through its online trading platforms.
Kamco Invest -Saudi and Kamco Invest - DIFC continued to strengthen their presence in their respective markets by improving their services and contributing more to the company's core businesses, particularly in asset management. Kamco Invest – Saudi signed a strategic partnership with Flexam Invest to offer leasing opportunities to their clients. Furthermore, Kamco Invest – Saudi completed the fit-out of its new premises in the King Abdullah Financial District (KAFD), with the official move taking place in July 2025.
Kamco Invest was awarded the 'Kuwait's Best for Alternative Investments' at the Euromoney Private Banking Awards 2025, highlighting the Company's rapid growth and sustained success in the alternatives space. In addition, Kamco Invest was named 'Kuwait's Best Investment Bank – DCM' at the Euromoney Awards for Excellence 2025, in recognition of the team's outstanding performance in executing bond and sukuk transactions for local and regional clients.
Total assets increased by 4.4% during the period to reachKWD135.5mn, whereas shareholders' equity rose by 8.7%toKWD67.7mn. The Company also enjoys a strong financial position and a 'BBB' long-term credit rating and 'A3' short-term rating with stable outlook by Capital Intelligence in their latest review in May2025.
Commenting on the results, Sheikh Talal Ali Abdullah Al Jaber Al Sabah, Chairman, said, 'Our performance in the first half of 2025 highlights the resilience of our strategy and the strength of our diversified business model. We are well positioned to navigate market dynamics and grow our business while continuing to deliver value to our shareholders.'
Faisal Mansour Sarkhou, Chief Executive Officer, commented, 'We delivered solid growth during the six-month period on various fronts including assets under management and achieved strong returns across our investment portfolios. Strategic developments, such as the acquisition of a majority stake in EGLS, demonstrate our focus on long-term value creation. We remain committed to enhancing our offerings, expanding our regional footprint, and delivering sustainable growth for our clients and stakeholders.'
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Arab Times
a day ago
- Arab Times
Kamco Invest reports a net profit of KWD7.1mn for the first half of 2025
Kuwait City, 12August2025: Kamco Invest, a regional non-banking financial powerhouse with one of the largest AUMs in the region, announced its financial results for the six-month periodended30June2025. The Company reported a net profit of KWD7.1mn (EPS:20.72fils) compared toKWD2.5mn during the same period in 2024 (EPS:7.26fils). Total revenue stood atKWD19.0mn, an increase of 48.2% compared to the same period of 2024, whereas fee and commission income reached KWD7.5mn (6M 2024: KWD8.1mn).The rise in total revenue was primarily driven by the performance of the Company's investment portfolio, supported by one-off proceeds from a legal case ruled in the Company's favor. Assets under management grew by 7.5% to reach USD17.1bn as of 30June 2025, due to new money raised in various products during the period, as well as the performance of portfolios and funds. Kamco Invest maintained its ranking amongst the ten largest asset managers in the MENA region, according to Forbes Middle East. The Company enjoys a strong track record and deep expertise in delivering diverse investment solutions to its clients. Managed portfolios continued to outperform their respective benchmarks, while the Company's equity funds maintained their positions amongst the top performing funds in Kuwait and Saudi Arabia, based on the fund disclosures published on Boursa Kuwait and Tadawul websites. As forAlternative Investments, which includes real estate, private equity and structured products, the team continued to expand its range of offerings to provide clients with added value. During the period, Kamco Invest finalized the acquisition of a 60% majority stake in European Green Logistics Space (EGLS), a company specializing in the development, investment, and management of logistics assets in Europe. This acquisition reflects Kamco Invest's commitment to growing its recurring fee income while unlocking value-adding opportunities for regional clients in the sustainable logistics sector. Furthermore, the Company successfully exited its investment in Yargici, a leading Turkish fashion and accessories brand held by one of Kamco Invest's private equity funds, through a sale to TIMS Group, a diversified Turkish business group with operations in content production, tourism, construction, and land development. The exit highlights Kamco Invest's commitment to delivering long-term value to its clients while ensuring the continued growth and success of its portfolio companies. The Investment Banking team continued to advise clients on several transactions across equity capital markets, debt capital markets, and M&A, with deals expected to close during the year. During the six-month period, the team advised OSN Group on the sale of a 30% stake of its subsidiary, OSN Streaming Ltd., to Warner Bros. Discovery for USD57mn. The team also acted as Joint Lead Manager on five bond and sukuk issuances totaling USD2.3bn for regional banks and institutions across Kuwait, Saudi Arabia, UAE, and Qatar. First Securities Brokerage Company, Kamco Invest's brokerage arm, continued to strengthen its competitive position and attracted new clients through its online trading platforms. Kamco Invest -Saudi and Kamco Invest - DIFC continued to strengthen their presence in their respective markets by improving their services and contributing more to the company's core businesses, particularly in asset management. Kamco Invest – Saudi signed a strategic partnership with Flexam Invest to offer leasing opportunities to their clients. Furthermore, Kamco Invest – Saudi completed the fit-out of its new premises in the King Abdullah Financial District (KAFD), with the official move taking place in July 2025. Kamco Invest was awarded the 'Kuwait's Best for Alternative Investments' at the Euromoney Private Banking Awards 2025, highlighting the Company's rapid growth and sustained success in the alternatives space. In addition, Kamco Invest was named 'Kuwait's Best Investment Bank – DCM' at the Euromoney Awards for Excellence 2025, in recognition of the team's outstanding performance in executing bond and sukuk transactions for local and regional clients. Total assets increased by 4.4% during the period to reachKWD135.5mn, whereas shareholders' equity rose by 8.7%toKWD67.7mn. The Company also enjoys a strong financial position and a 'BBB' long-term credit rating and 'A3' short-term rating with stable outlook by Capital Intelligence in their latest review in May2025. Commenting on the results, Sheikh Talal Ali Abdullah Al Jaber Al Sabah, Chairman, said, 'Our performance in the first half of 2025 highlights the resilience of our strategy and the strength of our diversified business model. We are well positioned to navigate market dynamics and grow our business while continuing to deliver value to our shareholders.' Faisal Mansour Sarkhou, Chief Executive Officer, commented, 'We delivered solid growth during the six-month period on various fronts including assets under management and achieved strong returns across our investment portfolios. Strategic developments, such as the acquisition of a majority stake in EGLS, demonstrate our focus on long-term value creation. We remain committed to enhancing our offerings, expanding our regional footprint, and delivering sustainable growth for our clients and stakeholders.'
Kuwait Times
2 days ago
- Kuwait Times
Turkey nears exit from FX-protected deposit scheme
ANKARA: Turkey is on the verge of ending a scheme protecting deposits from currency depreciation that is estimated to have cost $60 billion, another step to abandon unorthodox economic policies that triggered a lira crisis several years ago. Turkish officials said the KKM scheme, introduced in late 2021, will be terminated by the end of 2025, though many bankers believe the exit could come even sooner. The value of deposits covered by the scheme has shrunk from a peak of $140 billion to just $11.8 billion, a figure now seen as negligible in the context of Turkey's $1.3 trillion economy. The exit from KKM has progressed much faster than initial market expectations. Under the scheme, individuals and businesses were able to deposit lira in special accounts that were protected against exchange rate losses. The lira lost 44 percent of its value against the dollar in 2021, 29 percent in 2022, 37 percent in 2023, and 16 percent last year. Finance Minister Mehmet Simsek told Reuters this week the KKM balance had declined steadily thanks to the government's exit strategy and tight monetary policy. The KKM stock has fallen to 478 billion lira ($11.8 billion) from 3.4 trillion lira in August 2023. Its share of total deposits slid to 2 percent from 26.2 percent. Until May 2023 elections, the central bank implemented an unorthodox policy, backed by President Tayyip Erdogan, of low interest rates despite high inflation. After securing a new term, Erdogan backed a U-turn towards more orthodox policy, which brought higher interest rates to curb soaring inflation. With inflation having eased to 33.5 percent from a peak of 75 percent last year, the bank has begun cutting rates again. According to Reuters calculations based on central bank reports and budget data, the total cost to the Turkish state of the KKM is estimated at nearly $60 billion to the end of 2024 - making it one of the most expensive regulatory measures in Turkey's recent economic history. Last year Turkey ended other such policies, including a rule that forced banks to buy government bonds, effectively ending state control over the bond market. Earlier this year, the opening and renewal of KKM accounts for corporates was halted. Since the return on KKM accounts is capped at 40 percent of the policy rate, they have long ceased to offer a meaningful alternative to regular lira deposits. As the remaining KKM accounts held by individuals mature, a final regulation is expected to prohibit new openings and renewals, completing the phase-out of the scheme. Meanwhile, the lira has continued to weaken but at a slower pace. This year it has depreciated by 13 percent. – Reuters
Kuwait Times
27-07-2025
- Kuwait Times
Kuwait explores use of Bayraktar TB2 drones for environmental monitoring
Newly-acquired drones to support surveillance of borders, critical infrastructure KUWAIT: Kuwait is moving to integrate its newly acquired Bayraktar TB2 drones into environmental surveillance and civilian operations, according to a statement by the General Staff of the Army following a high-level coordination meeting held Sunday. The meeting, chaired by Deputy Chief of the General Staff Lt Gen Sabah Jaber Al-Ahmad Al-Sabah, gathered senior military officials and representatives from the Ministry of Public Works, Kuwait Municipality, and the Environment Public Authority, alongside other civil and security agencies. Discussions focused on how to organize reconnaissance flights and enhance the use of drone-generated data across state institutions, 'in support of observation and follow-up efforts' and to 'enhance the state's capabilities in addressing security and environmental changes,' the statement said. The meeting also reviewed the technical systems onboard the Bayraktar drone and explored its applications in defense, environmental monitoring, and the protection of vital infrastructure and borders. Lt Gen Al-Sabah emphasized the importance of using the drone beyond military settings. 'The utilization of the Bayraktar drone's capabilities is not limited to the military side only but extends to include many civilian sectors of the state,' he said. He called for greater coordination between military and civilian entities to maximize the benefits of this advanced aerial system. He described the drone as 'a qualitative leap in capabilities for monitoring, environmental surveillance, and the protection of facilities and borders,' and underscored the responsibility to invest and deploy the system effectively. The Bayraktar TB2 is capable of flying non-stop for 24 hours, carrying up to 650 kilograms. In 2019, it completed a test flight in Kuwait that lasted 27 hours and 3 minutes, despite high temperatures, strong winds, and sandstorms. The coordination meeting follows the arrival of Kuwait's first Bayraktar drones earlier this month, after a $367 million purchase agreement was signed with Turkish defense company Baykar in January 2023. Kuwait became the 28th country to acquire the TB2, a drone that has been used in conflict zones including Ukraine, Libya, and Azerbaijan. Kuwait has also been training personnel for drone operations, with the first batch of TB2 operators graduating in Turkey in July 2024, and a second group earlier this year. While Kuwait's discussions mark an early step in integrating drones into environmental oversight, drones have increasingly been used for that purpose in recent years. In Pakistan's Punjab province, officials launched a drone-linked environmental monitoring system in September 2024 to track factory emissions and enforce environmental laws. In the Arctic, high-speed drones were tested earlier this year to assess the rate of glacier retreat in Greenland. Research also points to the use of drones at landfills to detect methane emissions with high spatial and temporal precision, offering a low-cost alternative to traditional monitoring methods. — Agencies
