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Al Aman Investment settles KWD 10m credit facility

Al Aman Investment settles KWD 10m credit facility
The financial impact of this settlement is a credit facility cost worth KWD 23,410
ALAMAN
ALAMAN
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Mubasher: Al Aman Investment said it repaid a KWD 10 million loan to a local bank on Monday, 20 May.

The financial impact of this settlement is a credit facility cost worth KWD 23,410 that will be realised in the company’s consolidated financial statement as of 30 June, according to a statement to Boursa Kuwait on Tuesday.

Earlier this month, Al Aman Investment inked a loan contract with a local bank at a total value of KWD 10 million ($33 million).

In the first quarter of 2019, the firm’s profits levelled up 10% to KWD 914,810 from KWD 831,960 in Q1-18.