In the first quarter of 2024, Kamco Invest reported net profits of 1.5 million Kuwaiti dinars, a significant improvement from the previous period where they experienced losses of 1.6 million dinars. This was due to a 155.2% increase in revenues, reaching 6.7 million dinars compared to 2.6 million dinars in the first quarter of 2023. Revenues from fees and commissions also increased by 7.4% to reach 3.5 million dinars.
Managed assets grew by 5.1% to reach $15.6 billion at the end of March 2024, due to new fund inflows and strong performance across various products and services. The company’s financial brokerage arm, Al-Oula Financial Brokerage Company, expanded its client base, particularly in electronic trading services. Regional offices also enhanced their presence and services, focusing on asset management.
Kamco Invest – Saudi Arabia formed a strategic partnership with Flexam Invest to offer investment opportunities in financial leasing to clients in Saudi Arabia and other regions
