For the year ended 31 December 2021, Kamco Invest reported a net profit of KWD10.3 million (EPS: 30.14 fils) compared to a net loss of KWD2.7 million in 2020 (EPS: -7.85 fils). Total revenue increased by 99.4% to reach KWD30.1 million (2020: KWD15.1mn), while revenues from fees and commissions increased by 34.3% compared to 2020 to reach KWD20.2 million, representing 67.2% of total revenues.
During the year, Kamco Invest raised USD1.1 billion, distributed USD235 million to clients and grew its assets under management by 12.76%. Throughout the year, their equity funds and managed portfolios outperformed their peers and respective benchmarks. Two exits were completed by the Real Estate Investments team in the UK and Germany, and several exits were completed by the Special Situations Asset Management team on behalf of clients.
The Investment Banking team successfully managed 22 transactions in 2021 worth USD4.8 billion and penetrated new markets including Saudi Arabia, Oman, Jordan, and Bahrain besides the previous activity in Kuwait, Egypt, and UAE. The transactions included six Mergers & Acquisitions transactions, six equity capital market transactions, and ten debt transactions.
Kamco Invest’s brokerage arm attracted new clients and gained a new revenue stream. It also maintained its high credit rating and recommended a cash dividend of 10 fils per share to shareholders. The Company enjoys a strong financial position with KWD60.4 million in shareholders’ equity.
Faisal Mansour Sarkhou, Chief Executive Officer, Kamco Invest said, “We are pleased with the results which reflect the team’s expertise in various fields, the robustness of our strategy and the flexibility of our business model.” He added that many achievements were made during the year reflecting positively on company performance, such as growth in business activities and assets under management, attracting new clients and strengthening Kamco Invest’s financial position.”