Boursa Kuwait has announced net profits (attributable to equity holders of Boursa Kuwait) of KD15.9 million ($52.56 million) for the financial year ended December 31, 2021, an increase of approximately 26.3% from 2020 net profits of KD12.6 million.

 

The company also announced that its total operating revenue came in at KD31 million for 2021, an increase of approximately 39.7% compared to the same period in 2020, when the total operating revenue was approximately KD22.2 million. Net operating profit also increased by 56.5%, from KD11.8 million to KD18.5 million. 

 

Meanwhile, Boursa Kuwait’s total assets stood at approximately KD110.4 million as of December 31, 2021, which is a 6% increase versus the 2020 total of KD104.2 million. Boursa Kuwait’s shareholder equity increased 14.8% from KD52.8 million on December 31, 2020 to KD60.6 million as of December 31, 2021.

 

In line with the successful performance and commitment to deliver superior returns to shareholders, Boursa Kuwait’s Board of Directors has recommended the distribution of cash dividends of 65 fils per share for the financial year ended 31 December 2021 (subject to approval of the General Assembly and other regulatory entities).

 

Boursa Kuwait Chairman Hamad Meshari Al-Humaidhi commented: “We are pleased to have recorded profits of approximately KD15.9 million for 2021, with a marked improvement in key performance indicators, exhibiting Boursa Kuwait’s financial strength, its flexible operational model, as well as its innovative and adaptable strategy. The company continues to support the national economy and remains committed to contributing to the New Kuwait 2035 vision and solidify its position as a leading stock exchange in the region, and Kuwait as a world-renowned investment destination.” 

 

Al-Humaidhi added: “Boursa Kuwait also remains committed to the implementation of environmental, social and governance policies and principles as part of its Corporate Sustainability strategy, which is in line with the United Nations’ Sustainable Development Goals (SDGs). I would like to thank my fellow Board members, the Executive Management team, and all Boursa Kuwait employees for their invaluable efforts to enhance the company and the capital market.” 

 

The Kuwaiti capital market’s market capitalization in 2021 was around KD41.4 billion, an increase of around 28.5% from 2020. Trading volume increased by more than 57.9% from 53.6 billion to around 84.6 billion transactions, while traded value saw an increase of around 26.6%, from around KD10.8 billion to about KD13.6 billion. 

 

The Premier Market’s capitalization came in at KD31.1 billion, with almost 21.7 billion shares traded at a value of KD8 billion as a result of over 1.1 million transactions, while the Main Market’s capitalization came in at KD10.3 billion, with over 62.9 billion shares traded at a value of over KD5.6 billion as a result of over 1.9 million transactions. 

 

Mohammed Saud Al-Osaimi, Boursa Kuwait’s Chief Executive Officer, also commented on the company’s financials for 2021, saying: “Boursa Kuwait has seen a marked increase in trading value and volume, due to increased activity in the ‘Main Market’ which was complemented by the listing of three new companies in it, which is undoubtedly a reflection of the increasing confidence of investors from all over the world. The company also increased its product line in 2021 with the introduction of Tradable Rights Issues and collaborated with the Capital Markets Authority to introduce Margin Lending and Trading, in an effort to diversify its financing tools and offer more opportunities for investors to turn a profit.”  - TradeArabia News Service