Kuwait - 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.”

About Kuwait Financial Centre “Markaz”

Established in 1974, Kuwait Financial Centre K.P.S.C “Markaz” is one of the leading asset management and investment banking institutions in the MENA region with total assets under management of over KD 1.39 billion (USD 4.56 billion) as of 30 September 2024. Markaz was listed on the Boursa Kuwait in 1997. Over the years, Markaz has pioneered innovation through the creation of new investment channels. These channels enjoy unique characteristics and helped Markaz widen investors’ horizons. Examples include Mumtaz (the first domestic mutual fund), MREF (the first real estate investment fund in Kuwait), Forsa Financial Fund (the first options market maker in the GCC since 2005), and the GCC Momentum Fund (the first passive fund of its kind in Kuwait and across GCC that follows the momentum methodology), all conceptualized, established, and managed by Markaz.

For further information, please contact:
Sondos Saad
Corporate Communications Department
Kuwait Financial Centre K.P.S.C. "Markaz"
Email: Ssaad@markaz.com   
|markaz.com