Tuesday, April 23, 2024
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Tuesday, April 23, 2024
Today's News

Banking sector considered biggest contributor to capital value of KSE

Banking sector considered biggest contributor to capital value of KSE

The Al-Shall once a week economic record specified that the Kuwaiti banking field is considered the biggest payment to the funding value of the Stock Exchange– 62% as at the end of the very first quarter of 2023, as well as the highest possible contribution to its earnings in 2022– 56.3 percent, reports Al-Jarida daily. This is the most eye-catching to international indirect financial investment and the greatest liquidity among the sectors of the Kuwait Stock Exchange (KSE), where it got 51.1% of the total securities market liquidity initially of 2023 up until the end of March 2023, including one bank that obtained 57.8% of its liquidity during the abovementioned duration and also between completion of 2022 as well as completion of trading on Wednesday, March 29, 2023.

Stock exchange

The day the stock exchange revealed foreign ownership, the banking field index reduced by -3.1%, while the contribution of immigrants in that industry increased. The details readily available until March 29, 2023 indicates that international financial investments in the market enhanced in their absolute value to regarding 4.045 billion dinars, compared to about 3.909 billion at the end of 2022, as well as equal to around 15.44% of the funding market price of the sector, and also it had to do with 14.47% at the end of 2022. The concentration of their ownership was confined to 5 banks, the highest of their outright investments in the National Financial Institution of Kuwait, concerning 1.978 billion dinars, about 1.595 billion in Kuwait Finance Residence, regarding 155.4 million in Gulf Financial institution, regarding 142.6 million in Boubyan Financial institution, as well as about 128.6 million in Burgan Financial institution. This means that concerning 98.9% of international financial investments are focused in the 5 financial institutions, leaving concerning 1.1% of those investments to various other banks in the market.

Last Updated: 17 April 2023

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