Kuwait .. Arrows of “collections” has risen to the highest level since the inclusion

The share classification and collection of money “collections” on the Kuwait Stock Exchange ascended by 233.33% during trading today, to circulate at the price of 197 fils per share, achieving its highest level since the inclusion.

Trading on the share of the classification and collection of funds at that time came at 6.79 million shares with a value of trading 879.09 million dinars.

The highest price of the share was at that time at 209 money, while the lowest price was at 67 fils per share.

The money classification and collection company, known as colleagues, recorded profits of 22.31 thousand Kuwaiti dinars during the fourth quarter of 2024, which ended on December 31, compared to 133.77 thousand dinars during the same period of 2023, which reflects a clear decline in quarterly profits.

In terms of annual results, the company turned into a loss of losses of 85.1 thousand dinars, compared to profits of 50.13 thousand dinars during the year 2023, and the company attributed this decline to a decrease in operational revenues.

She founded “collections” in December 1998, and has been included in the Kuwait Stock Exchange since June 2005, a public joint stock company operating within the diverse financial sector, with a special focus on specialized financing. Its headquarters is located in Kuwait City, and it offers a comprehensive set of financial services related to debt collection and city account management.

The company’s services include the management of invoices, which allow the processes of calculations before they turn into a troubled debt, through direct communication, field visits and the use of smart systems, and this service is provided for a fixed fee for each account. The company also provides direct collection service, which is a professional mechanism based on negotiations with the debtors, and is applied with a system “I do not feed except when collecting”, with the possibility of resorting to legal procedures when needed.

The “colleagues” also provides investigation and trace services, which are designed to locate the debtors inside and outside Kuwait via an international network covering more than 150 countries, supported by a wide database. On the legal aspect, the company relies on a network of lawyers deployed in various governorates to activate judicial procedures.

It also provides international collection service through strategic partnerships with international organizations such as American ACA and TCM global, allowing them to cover collections in more than 150 countries.