Profits of 31 exchange companies operating in Kuwait jumped 90 percent to 44.76 million dinars during the first nine months of 2026, compared with 23.56 million dinars in the same period last year, driven by strong revenue growth and a slower increase in expenses, according to data issued by the Central Bank of Kuwait (CBK).
The increase was 21.2 million dinars, while total revenues rose 35.8 percent, or 25.29 million dinars, to reach 95.877 million dinars from January to September 2026, compared to 70.58 million dinars in the corresponding period of 2025.
The currency exchange remained the largest source of income for the companies. Revenues from buying and selling foreign currencies increased 43.7 percent, or 26.535 million dinars, to 87.236 million dinars in the first nine months of 2026, compared with 60.70 million dinars in the same period last year. The increase reflected stronger revenues from the sector’s core business activity.
Income from bank interest also rose 20.31 percent, or 139,000 dinars, to 823,300 dinars, compared with 684,300 dinars in the corresponding period of 2025. This income represents returns earned on funds deposited with banks. However, other income declined 15.01 percent, or 1.38 million dinars, to 7.818 million dinars by the end of September 2026, compared with 9.199 million dinars a year earlier.
Total expenses increased 8.7 percent, or 4.093 million dinars, to 51.115 million dinars in the first nine months of 2026, compared with 47.023 million dinars in the corresponding period of 2025. The growth in expenses remained considerably slower than the increase in revenues.
The administrative and banking expenses rose 10.39 percent, or 3.958 million dinars, to 42.052 million dinars, compared with 38.094 million dinars in the same period last year. These expenses cover the costs of managing daily operations and banking activities.
Bank interest expenses increased 41.7 percent, or 463,900 dinars, to 1.574 million dinars during the first nine months of 2026, compared with 1.110 million dinars in the corresponding period of 2025.
Meanwhile, provisions declined 5.68 percent, or 397,700 dinars, to 6.6 million dinars, compared with 6.997 million dinars a year earlier. Other expenses increased 8.32 percent, or 68,300 dinars, to 888,400 dinars in the first nine months of 2026, compared with 820,100 dinars in the same period of 2025.
