GCC-listed companies reported record profits of $67.9 billion in the first quarter, according to a report by Kamco Invest.

GCC-listed companies reported record profits of $67.9 billion in the first quarter, according to a report by Kamco Invest.

The strong performance reflects broad-based improvements across most key sectors, supported by relatively stable oil prices and continued growth in non-oil economic activities across several Gulf economies. This combination helped boost the overall earnings of listed companies.

The banking sector was one of the main contributors to this record performance, benefiting from higher interest rates, improved asset quality, and stronger credit demand in certain markets. Energy and petrochemical companies also delivered solid results, supported by healthy global demand and improved profit margins.

Meanwhile, performance across other sectors was mixed. Consumer-facing and service-related companies generally benefited from stronger economic activity, while some sectors continued to face pressure from rising operating costs and global economic uncertainty.

Overall, the record earnings highlight the resilience of GCC-listed firms and their ability to capitalize on current economic conditions, despite ongoing challenges such as inflation and shifts in global monetary policy.