- Operating profit sees a 21.27% increase; total operating revenues rise by 16.42%
- Al-Humaidhi: Performance reflects strong commitment to shareholder value and positions Kuwait among key emerging markets
- Al-Osaimi: Boursa Kuwait strengthens its appeal for institutional investors, advancing Kuwait’s status as a regional investment hub
Kuwait City – October 31, 2024: Boursa Kuwait reported a 14.50% increase in net profit for the nine-month period ending 30 September 2024, reaching KD 14.43 million (USD 47.08 million) from KD 12.60 million (USD 41.11 million) in 2023. Operating profit grew by 21.27% to KD 17.93 million (USD 58.50 million), up from KD 14.79 million (USD 48.25 million) the previous year. The company also recorded a 16.42% boost in total operating revenues, amounting to KD 26.20 million (USD 85.48 million) versus KD 22.50 million (USD 73.41 million) in the same period in 2023.
Strategic Growth and Market Position
Chairman Mr. Hamad Mishari Al-Humaidhi highlighted Boursa Kuwait’s commitment to sustainable growth and shareholder value, attributing the results to a robust operational model and strategic vision that aligns with long-term objectives. Al-Humaidhi affirmed that Boursa Kuwait’s focus on international best practices has strengthened its role in the region’s financial ecosystem, promoting continuous development and investor confidence.
Increased Trading Volumes and Institutional Interest
Boursa Kuwait’s trading volumes surged by 53.54% year-on-year, totaling 43.83 billion shares, while traded value rose by 35.8% to KD 10.20 billion (USD 33.27 billion). CEO Al-Osaimi noted the appeal of the “Main” Market for retail investors, which accounted for 35% of traded value this year. Institutional investors remain predominant, comprising 62% of traded value, further stabilizing the market and underscoring Boursa Kuwait’s attractiveness as an investment destination.
Strengthened Global Position and Investor Outreach
Boursa Kuwait’s initiatives continue to attract international investors, with a 38.04% increase in foreign trade confirmations, totaling 836,000. Al-Osaimi emphasized that the company’s growth aligns with its commitment to diversification and liquidity enhancement, fostering Kuwait’s prominence as a regional financial hub.
Commitment to “New Kuwait” Vision
Aligned with the “New Kuwait” vision, Boursa Kuwait has implemented extensive market reforms and developed infrastructure to attract local and international investors, facilitating access to a diverse range of financial instruments. Privatized in 2019, the exchange remains a model of efficiency and resilience, exemplified through its series of roadshows and corporate days that connect leading Kuwaiti firms with global investors.
Through continuous innovation, strategic partnerships, and targeted reforms, Boursa Kuwait solidifies its reputation as a regional leader in financial markets, committed to growth and investment in the Kuwaiti capital market.
