Mubasher: Kuwait's Global Investment House (Global) on Wednesday posted KWD 2.5 million ($8.3 million) in net profits for the full-year 2017, while revenues recorded KWD 14.1 million.
Fee and commission income amounted to KWD 10.3 million ($34.1 million) last year, representing 73% of total revenues, according to the regional asset management and investment banking firm’s statement.
Moreover, Global’s assets under management hit KWD 910 million for the year ended 31 December 2017.
Over the course of the last year, the Kuwait-based company raised over $71 million of new money in various strategies primarily income-yielding UK real estate and has distributed to clients more than $93 million from dividends and proceeds from exits.