Boursa Kuwait announced its financial results for the first half of 2023, as the company recorded a net profit of KD 8.42 million during the period ending on June 30, 2023, a decline on an annual basis of 21.4% compared to the first half of 2022.
The reason for the decline in net profit is due to the decrease in trading volume compared to the exceptional trading activities witnessed by the market in the first half of 2022, which are the highest results for the first half since the company's privatization.
During the first half of 2023, most of the financial markets in the GCC region and around the world witnessed a wave of fluctuations and a state of uncertainty due to the slowdown in the global economy due to the impact of high inflation rates, the intervention of central banks to raise interest rates, the fluctuation of oil prices, and fears of the transmission of global bank turmoil to The region's markets, where many financial market indices began during that period with a noticeable decline, and most of the Gulf stock exchanges recorded a decline in trading volume.
Despite these challenges, Boursa Kuwait was committed to promoting and marketing the Kuwaiti capital market to the international investment community, and continued to adopt the best standards and practices followed by global markets, and to cooperate closely with the market system to enhance its attractiveness and effectiveness, raise efficiency and levels of transparency, in addition to improving corporate governance. included in it.
