Mubasher: Inovest has collected a default loan worth $2.33 million or about KWD 711,940.

A profit worth $2.24 million will be realised from reversing a debt provision; the profit will be registered in the financial statements of the second quarter this year, according to a bourse statement issued on Sunday.

Inovest, which is listed on both Boursa Kuwait and the Bahrain Bourse (BHB), noted that this debt settlement will generate an increase in real estate investments at a value of $2.33 million.