Quotes: MENA   Enter Symbol: NewsLetter: Search: advanced

Kuwait - Markaz posts net profit of KD 7.46 mln in 2013   Join our daily free Newsletter

MENAFN - Arab Times - 25/02/2014
No. of Ratings : 0
Add to Mixx!



(MENAFN - Arab Times) Kuwait Financial Centre K.P.S.C. "Markaz" announced a net profit of KD 7.46 million for the year ended 31st December 2013, Earnings per Share (EPS) of 13 fils as compared with a net profit of KD 4.04 million (8 fils per share) during the same period in 2012. Markaz's improvement in earnings came as a result of favorable returns from investments across all asset classes which represented a gain of 5.53% return on average assets as compared to 2.84% in 2012.



Markaz's total equity base increased by 7% to KD 109.18 million at the end of December 2013in comparison to KD 101.89 million at the end of 2012. Markaz's total assets under management (AUM) reached KD 975 million with an increase of 10% compared to KD 883 million as of 31st December 2012. In compliance with regulatory measures by Central Bank of Kuwait (CBK), the financial leverage ratio of Markaz reached 0.25:1 in comparison to the imposed rate by CBK of 2:1, which shows the low leverage rate of Markaz. While the quick ratio, the ratio of liquid assets due within one month should not be less than 10% of total liabilities according to CBK, Markaz's rate was 26.19%.



Those percentages reflect Markaz's strategy in maintaining a strong leverage ratio to ensure its shareholders' wealth growth. Subject to the requisite consent of the relevant authorities and approval of the General Assembly, Markaz Board of Directors recommended a cash dividend of 10 fils per share to be distributed to the shareholders of record as of the date of the General Assembly



On this occasion, Markaz's Chairman, Diraar Y. Alghanim, stated, "Markaz's solidity as a financial institution and its stable performance during these volatile investment conditions shows its ability to forecast future market trends, as dependence on research in investment activities has become a fundamental requirement to enhance the financial strength of institutions operating in the asset management and financial services industry." Alghanim added, "These good results would not have been possible without the tender and loyalty of Markaz's employees and the dedication they have towards developing dynamic investment solutions and client services under the supervision of an active and professional management.




 


Arab Times




  MENA News Headlines
 May 26 2015 - Qatar - HH the Emir Attends "Buzzard 4" SeminarQatar News Agency
(MENAFN - QNA) HH the Emir Sheikh Tamim bin Hamad Al-Thani attended Tuesday a part from the senior commanders seminar for the joint military drill "The Buzzard 4", organized by the Qatari Armed ...

 May 26 2015 - Kuwaiti Foreign Minister Meets Yemeni CounterpartQatar News Agency
(MENAFN - QNA) Kuwait's First Deputy Prime Minister and Foreign Minister Sheikh Sabah Khaled Al-Hamad Al-Sabah met Tuesday with his Yemeni counterpart Riyadh Yaseen, whose country is taking part in ...

 May 26 2015 - Bahrain arrests wanted fugitive and confiscates weapons used for terrorist activitiesEmirates News Agency (WAM)
(MENAFN - Emirates News Agency (WAM)) Security authorities in the Kingdom of Bahrain have announced the arrest of a wanted fugitive and the confiscation of a number of weapons used for terrorist ...

 May 26 2015 - UAE to participate in International Transport Forum 2015 SummitEmirates News Agency (WAM)
(MENAFN - Emirates News Agency (WAM)) The UAE is to participate in the International Transport Forum 2015 Summit in Leipzig, Germany, from 27th-29th May, 2015.A delegation from the Federal Authority ...

 May 26 2015 - Mohammed bin Rashid attends brainstorming session to discuss future of Smart GovernmentEmirates News Agency (WAM)
(MENAFN - Emirates News Agency (WAM)) His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister and Ruler of Dubai, has attended a brainstorming session attended by 100 ...

 May 26 2015 - UAQ Crown Prince briefed on NCEMA's programmes and plansEmirates News Agency (WAM)
(MENAFN - Emirates News Agency (WAM)) H.H. Sheikh Rashid bin Saud bin Rashid Al Mu'alla, Crown Prince of Umm Al Qaiwain, has been briefed on strategic programmes, objectives, specialties and plans of ...

 May 26 2015 - UAE Project Management Conference opens opportunities and challenges in project management fieldEmirates News Agency (WAM)
(MENAFN - Emirates News Agency (WAM)) The first UAE Project Management Conference and Exhibition was launched yesterday. It was attended by speakers from the UAE, the Gulf Region, and experts from ...

 May 26 2015 - Nahyan affirms importance of innovative thoughts, adoption of UAE VisionEmirates News Agency (WAM)
(MENAFN - Emirates News Agency (WAM)) Sheikh Nahyan bin Mubarak Al Nahyan, Minister of Culture, Youth and Community Development, emphasised the importance of studying government excellence system and ...

 May 26 2015 - Five UAE sites identified as areas of global biological and ecological importance globallyEmirates News Agency (WAM)
(MENAFN - Emirates News Agency (WAM)) The UAE has identified five sites as areas of global biological and ecological importance during the recently-concluded regional workshop on Ecologically or ...

 May 26 2015 - Yemeni President meets Hadramout Alliance leadersSaudi Press Agency
(MENAFN - Saudi Press Agency) Yemeni President Abed Rabbo Mansour Hadi has met with Hadramout Alliance leaders and discussed with them the current developments at the national level and what Yemen ...

more...


 






Google

Click to Apply

 
 

Middle East North Africa - Financial Network

MENAFN News Market Data Countries Tools Section  
 

Middle East North Africa - Financial Network
Arabic MENAFN

Main News
News By Industry
News By Country

Islamic Finance News
Private Equity News

How-To Guides
Technology Section

Travel Section

Search News

Market Indices
Quotes & Charts

Global Indices
Arab Indices

Commodoties

Oil & Energy

Currencies Cross Rates
Currencies Updates
Currency Converter

USA Stocks
Arab Stocks
 

Algeria 
Bahrain 
Egypt 
Iraq
Jordan 
Kuwait 
Lebanon
Morocco 
Oman 
Palestine
Qatar 
Saudi Arabia 
Syria
Tunisia 
UAE 
Yemen

Weather
Economic Calendar
Financial Glossary


Financial Calculators

RSS Feeds [XML]

Corporate Monitor

Events

Real Estate
Submit Your Property

Arab Research
Buy a Research

Press Releases
Submit your PR

Join Newsletters


 
© 2014 menafn.com All Rights Reserved.  Terms of Service | Privacy Policy | Contact Us | Advertise | About MENAFN | Career Opportunities | Feedback | Help