Zain Group has said its net profit for the second quarter of 2022 increased by 22 percent to reach Kuwaiti Dinar 50 million ($165 million).
The revenue grew by 14 percent, reaching KD 421m ($1.4 billion). The Group has decided to pay a half-year dividend of 10 fils per share.
Data Revenue grew 3 percent to represent 40 percent of Group Revenue for H1. Kuwait, KSA and Sudan record double-digit growth in revenue and net profit.
The Group said it recorded 21 percent revenue growth in Enterprise business, as ZainTech enters many strategic partnerships.
It has applied to launch a digital bank in Kuwait with Boubyan Bank and other investors.
The Zain Group generated consolidated revenue of KD 829 million ($2.7 billion) during H1, an increase of 10 percent.
Bader Al-Kharafi, Zain Vice-Chairman and Group CEO, said, “Our solid balance sheet and financial solvency is a result of the company’s success in the execution of its ‘4Sight’ corporate strategy, which is, driving growth, digital transformation, and optimal efficiencies across all operations.”
