Al Madina for Finance and Investment disclosed its interim financial statements for the nine months period ended September 30, 2014.

The statements reflected that the company has deepened its loss by around 175% during this period since it logged KWD11.86 million ($40.7 million) net loss for this period compared to KWD4.31 million ($14.8 million) for the same period of previous year.

The company noted that , its losses during this period was attributed to investments losses drove from sister companies at an amount of KWD2.22 million , in addition to other direct investments losses at an amount of KWD4.21 million.

Al Madina operates within the diversified financial sector focusing on asset management & custody banks and has 19 subsidiaries operating across Kuwait, Cayman Islands and Bahrain.