Mubasher: Global Investment House recorded a surge of 200% in profits during the first six months of 2017 compared to the same half a year ago.
Earnings jumped to KWD 2.7 million ($8.9 million) in H1-17 from KWD 900,000 ($3 million) in H1-16, according to an official statement issued on Tuesday.
Total revenues stood at KWD 8.4 million ($27.7 million) in H1-17.
Global Investment’s fee and commission income recorded KWD 5.8 million ($19.1 million) in H1-17, accounting for 69% of total revenues.
The company's asset management business generated a revenue of KWD 5.3 million ($17.6 million) in H1-17.
“On the brokerage front, Global made focused efforts to grow the institutional brokerage business and take advantage of high double-digit increase in market turnover. During H1-17, brokerage fee revenues stood at KWD 0.5 million ($1.7million),” the company said in the statement.
