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 6.19%.




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
 Jul 26 2016 - A mouth full of crickets? Lobbyists speak up for edible insectsThe Peninsula
(MENAFN - The Peninsula) By Bradley Saacks At the Oyamel Cocina Mexicana in Washington, metal butterfly mobiles hang from the ceiling and bugs are on the menu. The chapulines tacos are jammed ...

 Jul 26 2016 - Damac's AIPO villas totally sold outMENAFN
(MENAFN) Damac Properties announced that villas in its Akoya Imagine Phase One Dubai, has been sold out, and said that the launch of the second phase is to set to start by the end of July.In detail, ...

 Jul 26 2016 - Sales of European cars in Egypt is led by Opel AstraMENAFN
(MENAFN) A report by Daily News Egypt has stated that, Opel Astra has kept its position leading sales of European cars in Egypt in Q1, registering sales of 1,776 units worth USD 49.5m.Additionally, ...

 Jul 26 2016 - TDIC picks Jawaher Saadiyat for Al Jaber building projectMENAFN
(MENAFN) Abu Dhabi-based Tourism Development & Investment Company (TDIC) has chosen Jawaher Saadiyat, a residential community, to construct Al Jaber Building.TDIC, the master developer of major ...

 Jul 26 2016 - Empower supports green economy strategy in UAEMENAFN
(MENAFN) Emirates Central Cooling Systems firm (Empower), the world's largest district cooling services provider, will back the State of Green Economy Report 2017 for Dubai Carbon as its platinum ...

 Jul 26 2016 - Epico reveals new office in Abu DhabiMENAFN
(MENAFN) Emirates Property Investment Company (Epico), the property and facilities management arm of Al Fahim Group, has launched its new office in Abu Dhabi.In detail, the office is located in the ...

 Jul 26 2016 - Wasl group completes artistic projectMENAFN
(MENAFN) Wasl properties, a subsidiary of wasl Asset Management Group, has finished work of a large art project, which will turn the facades of Karama Shopping Complex in Dubaiinto an open street art ...

 Jul 26 2016 - Saudi Al-Khodari faces net loss in Q2MENAFN
(MENAFN) Saudi construction firm Abdullah Abdul Mohsin Al-Khodari and Sons said it swung to a net loss in the second quarter due to a decrease in earnings.In detail, the company suffered a net loss ...

 Jul 26 2016 - Enhancing radiation safety, IAEA signs two practical arrangements with Russian regulatory authoritiesEmirates News Agency (WAM)
(MENAFN - Emirates News Agency (WAM)) VIENNA, 26th July, 2016 (WAM) --The IAEA is to cooperate with Russian authorities in the enhancement of the country's national radiation safety standards ...

 Jul 26 2016 - 43 establishments closed by ADDED in Abu Dhabi and Al AinEmirates News Agency (WAM)
(MENAFN - Emirates News Agency (WAM)) ABU DHABI, 26th July, 2016 (WAM) -- Abu Dhabi Department of Economic Development, ADDED, has closed 43 commercial establishments in Abu Dhabi and Al Ain in ...

more...


 





Google

 
 

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