Talal Al-Bahr
Al-Bahr: The company’s investments and assets are the basis of its outstanding performance
Arzan Financial Group Company announced its financial results for the first nine months of 2023. The financial results showed that the company achieved net profits amounting to 6.638 million Kuwaiti dinars, compared to 9.384 million dinars for the same period in 2022, with earnings per share amounting to 8.216 fils per share, compared to 11. 633 fils per share for the same period last year. Total operating revenues amounted to 13,585 million dinars, and total assets during the period amounted to 194,449 million dinars, and the total shareholders’ equity of the parent company increased to 117,724 million dinars in the third quarter of this year, compared to 115,558 million dinars for the same period last year.
Talal Jassim Al-Bahar, Chairman of the Board of Directors of Arzan Financial Group, expressed his happiness with the results achieved by the company during the first nine months of the year, saying: “Arzan Group’s results are evidence that the group’s investments and assets are a cornerstone of outstanding performance during this financial period.” He added: “We are pleased with our investments in subsidiaries and associates, and we look forward to building on these results and enhancing the group’s investments.”
For his part, Vice Chairman of the Board of Directors and CEO of the Group, Jassim Zainal, stated that the Group was able to achieve these results despite the continued negative effects that were reflected on the local and global financial markets as a result of the continued rise in interest rates in the United States of America and the Eurozone and the fluctuations in the prices of major currencies against the dollar. In addition to the continuing turbulent geopolitical conditions and instability in the surrounding region and around the world, the solidity of the group’s financial position and its conservative policy, built on solid investment foundations, which rely in its approach on diversifying investments economically and geographically, have proven the group’s ability to achieve good results and overcome many challenges. Of investment risks.
Jassim Zainal
2023-10-31 16:57:49
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