Kamco Invest

Kamco Invest – Saudi welcomes Ahmed Salman, CFA to its executive team to lead its Capital Markets and Shared Services business in the Kingdom. With his expertise covering asset management, institutional sales, brokerage, and custody management, Ahmed has managed multi-million-dollar portfolios, introduced innovative financial solutions, and drove business growth across the MENA region. His deep knowledge of the Saudi capital market and vast experience will be instrumental in advancing Kamco Invest’s growth objectives and strengthening its ability to provide tailored investment opportunities to its clients.

Listed banks in the GCC witnessed a broad-based growth in lending during Q3-2024 with healthy q-o-q growth seen across countries in the region. The growth reflected resilient economic growth in the region that came despite relatively lower oil prices. Aggregate gross loans for GCC-listed banks increased by 3.1% to reach a new record high of USD 2.12 Trillion at the end of Q3-2024 as compared to USD 2.06 Trillion at the end of the previous quarter. Read more: https://lnkd.in/d2YwpaFy

Raed Diab, SVP – Investment Strategy & Research at Kamco Invest, talking to KTV about the positive performance of Boursa Kuwait in recent months. Raed also highlighted the significant growth seen in the market driven by increased investor confidence and government investments in developmental projects. The discussion also involved highlights of the recently concluded Q3-24 earnings season. The interview closed with comments on recent trends in US markets, oil prices and bullion. Watch the full interview: https://lnkd.in/d-XqXdQn

Junaid Ansari, Head of Investment Strategy & Research at Kamco Invest, in an interview on Asharq Bloomberg highlighted the impact of interest rate changes on the Saudi banking sector that is expected to be positively impacted by the delayed rate cuts and talks of higher for longer rates coupled with resilient lending in Saudi Arabia. He talked about IPO market activity and its impact on the Saudi Exchange highlighting the benefits of IPOs over the last two years. The interview also focused on the reasons for the recent decline in TASI and whether it would continue in the near term. Watch the full interview: https://lnkd.in/eraDNpq9

Kamco Invest held its online analysts / investors conference today for analysts and the company’s shareholders to discuss its performance during the nine months ended 30 September 2024. Participating in the conference were Faisal Sarkhou, Chief Executive Officer, Hanaa Hasan Taha, Chief Financial Officer and Mohammad Akbar, Manager, Marketing & Investor Relations who started by giving a brief introduction to the company, followed by an overview on the major events and the market’s performance during the period. Sarkhou presented a detailed overview of the company’s business and financial performance for the period. The company achieved numerous milestones leveraging on its business model that focuses on diverse income sources and quality revenue streams. Taha discussed the Company’s financial position and credit rating, indicating that Kamco Invest maintained its “BBB” long-term credit rating and “A3” short-term rating with a stable outlook. The rating was issued by Capital Intelligence in its most recent review in May 2024. Sarkhou concluded by highlighting the differentiation factor of Kamco Invest characterized by the quality of its earnings due to the robust and diversified revenue model and regional footprints. Link to the Investor Presentation - 9M 2024: https://lnkd.in/dJkcaJ3v

Crude oil traded at around the USD 72/b mark after sliding from a recent peak of around USD 76/b mainly led by a strong greenback and mixed demand signals from China. On the other hand, the shut-ins of oil and natural gas production units in the Gulf of Mexico due to tropical storm Rafael, only provided temporary support to oil prices. Read more: https://lnkd.in/dV-z_G6b

Junaid Ansari, Head of Investment Strategy & Research, Kamco Invest, speaking on Saudi Q3 earnings, near term market expectations and dividends. https://lnkd.in/dq_SEs7K

Inflation in the GCC remained low and stable despite ongoing regional geopolitical tensions, Among the six GCC countries, Oman reported the lowest year-on-year inflation growth in September-2024 at 0.4%, down from 1.1% in August-2024. In contrast, Kuwait experienced one of the highest inflation rates in the GCC, with a year-on-year increase of 2.8% in September-2024, slightly down from 2.9% in August-2024. Dubai recorded an inflation rate of 2.5% in September-2024, while the remaining GCC countries reported monthly inflation rates below 2.5% (Saudi Arabia at 1.7%, and Bahrain and Qatar at 0.9% at 0.8%, respectively). Read more: https://lnkd.in/dV7i34Jw

Kamco Invest reported a net profit of KWD3.5mn (EPS: 10.14 fils) for the period ended 30 September 2024 compared to a loss of KWD1.4mn during the same period in 2023 (EPS: -4.08 fils). Total revenue reached KWD18.5mn, compared to KWD11.2mn for the same period last year, reflecting the positive impact of increased fee and commission income and the strong performance of the Company’s diversified investment portfolio. Fee & commission income increased by 28.0% in comparison to the same period in 2023 reaching KWD12.1mn, accounting for 65.1% of the total revenue. Assets under management grew by 9.3% to reach USD16.2bn as of 30 September 2024, attributed to new money raised in various products and services during the period. Commenting on the results, Faisal Sarkhou, Chief Executive Officer, said, “Amidst a global landscape of heightened uncertainty, market by economic challenges and global tensions, Kamco Invest’s performance reflects our strategic focus on resilience and sustainable growth." Read more: https://lnkd.in/dfBjVpg3

Raed Diab, SVP – Investment Strategy & Research at Kamco Invest, talking about Boursa Kuwait performance and US elections. https://lnkd.in/dQnjG6K8