Kuwait – Mubasher: Arzan Financial Group for Financing and Investment established a subsidiary under the name of Arzan Capital Holding Ltd in UAE, said the company Sunday in a bourse filing.
Operations at the new company have not started yet, the company added, clarifying that the fully-owned subsidiary will have no financial impact on the group currently.
The company turned profitable in the third quarter of 2016 after profits reached KWD 622,090 ($2.04 million) in Q3-16 against losses of KWD 666,990 ($2.19 million) in Q3-15.
