Kuwait Finance and Investment (KFIC) has signed an agreement with a leading company in the retail business in Kuwait to acquire a client portfolio valued at about KWD 890,000 in installments.
KFIC expected a return ranging from 11% to 12% each year as an impact of this takeover, according to a bourse statement on Thursday.
The company added that it will sign another agreement to execute a monthly acquisition of the portfolio of different clients.
KFIC said it expects a revenue of KWD 124,000 during the period of this acquisition agreement.
At the stock level, KFIC closed Thursday’s session 1.9% higher at 48.9 fils.