During H1 2016, the Asset Management business remained resilient with KWD1.0 billion of assets under management. Our asset management teams remained focused on launching products and services best suited to our clients' investment needs offering recurring income / yield accompanied with low volatility as an alternative to low interest rates. Investment Banking team was mandated to assist clients in Kuwait, Saudi Arabia, Bahrain and Oman ranging from advisory to M&A mandates, two of which were successfully closed during the first half.

The Company's continuous efforts to control and rationalize its cost base resulted in reducing our operating cost base by KWD0.929 million in H1 2016 to reflect the current market environment.

Global has a healthy capital structure, conservatively deployed primarily in liquid and operating assets with no external debt and a capital base of KWD87.5 million.

Maha Al-Ghunaim, Vice Chairman & Group CEO, said: 'These results reflect the challenges the markets are witnessing especially in the MENA region including falling oil prices, geopolitical conflict in the region and economic instability in the euro zone. Despite the expectations that such challenges will last for some time, we remain committed to continue creating value to all our stakeholders by offering investment products and services suitable for clients' needs in these challenging times.'

Global Investment House KSCC published this content on 17 August 2016 and is solely responsible for the information contained herein.
Distributed by Public, unedited and unaltered, on 17 August 2016 11:25:03 UTC.

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