Mubasher: Global Investment House (Global) announced its financial results for the first quarter of 2017 on Wednesday, according to a press release.
Global reported a 950% surge in net profits to KWD 2.1 million ($6.8 million) compared to KWD 0.2 million in Q1-16, according to the company’s statement.
Total revenues reached KWD 5 million ($16.5 million), with fee and commission income reaching KWD 3.3 million ($10.9 million) representing 66% of total revenues.
“During Q1-17, Asset Management generated KWD 2.8 million ($9.1 million), revenues and the Assets under Management (AUM) grew by KWD 23.0 million ($75.3 million) to KWD 1 billion ($3.3 billion) stemming from both new money raising and performance driven AUM growth,” the statement added.
