BANKING

November 18, 2019

KUWAIT: NBK-Egypt – a member of NBK Group – reported EGP 1.666 billion in net profits (KD 30 million) for 9M2019 up 13.8% compared to EGP 1.464 billion for the corresponding period of last year. As of September 30, 2019, shareholders’ equity reached EGP 7.54 billion up 29.7% compared to EGP 5.81 billion by the end of September 2018. Total customers deposits grew by 8.2% for the same period,"... Continue Reading

November 18, 2019

KUWAIT: Sheikh Mohammed Jarrah Al-Sabah, Chairman of Kuwait International Bank (KIB) announced that the Bank reported a net profit attributable to shareholders of around KD 12.8 million and earnings per share (EPS) of 13.18 fils at the end of the nine months of 2019 while registering total operating income of around KD 51.8 million.

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November 17, 2019

KUWAIT: Raed Al-Haqhaq, Burgan Bank Deputy Group CEO and CEO-Kuwait, stated that Q3’19 was one of the strongest third quarters for the bank. In Q3’19, Burgan Bank generated Net Income of KD 22.7mn, Y-o-Y growth of 10.7%. The financial results of first 9 months of 2019 (9M2019) was also solid with Group Revenue of KD 178.3mn and Group Net Income of KD 67.5mn. Loan book of the bank grew to KD 4.2bn"... Continue Reading

November 17, 2019

KUWAIT: NBK-Egypt – a member of NBK Group – reported EGP 1.666 billion in net profits (KD 30 million) for 9M2019 up 13.8% compared to EGP 1.464 billion for the corresponding period of last year. As of September 30, 2019, shareholders’ equity reached EGP 7.54 billion up 29.7% compared to EGP 5.81 billion by the end of September 2018. Total customers deposits grew by 8.2% for the same period,"... Continue Reading

November 14, 2019

KUWAIT: The Commercial Bank of Kuwait (CBK) recently took part in the International Financial Cooperation Forum held in Shanghai, China, where Kuwait was the forum’s guest of honor. The forum was held under the title of ‘Openness & Creativity for Mutually Beneficial Cooperation’. It was held at the sidelines of “China International Import Expo” and attracted official delegations"... Continue Reading

November 14, 2019

KUWAIT: In an effort to provide a comprehensive and convenient banking experience to its customers and to maintain its leadership position in the sector, National Bank of Kuwait added “Dark Mode” feature and new enhancements to the NBK Mobile Banking App as part of its continued efforts to offer comfort to customers while ensuring they benefit of exceptional advanced digital solutions and banking"... Continue Reading

November 13, 2019

KUWAIT CITY, Nov 12: Some financial institutions and exchange companies that buy and sell currencies in the local market have complained to the Central Bank of Kuwait (CBK) that the local banks refuse to open or close accounts for them, although they are subject to CBK control, reports Al- Rai daily quoting informed sources.

These"... Continue Reading

November 12, 2019

KUWAIT: The performance of the GCC markets was largely negative in October in a continuation of a general weakness which has been prevailing since the end of April. The S&P GCC Index declined by 2.67% during the month almost exhausting all of the positive year-to-date performance that was accumulated during the first few months of the year.

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November 11, 2019

KUWAIT: The Governor of the Central Bank of Kuwait (CBK) Dr Mohammad Y Al-Hashel announced CBK’s live and consolidated “Liquidity Management and Forecasting Dashboard”, which enhances the ability to forecast liquidity conditions more accurately and at an earlier point in time, in turn leading to more efficient utilization of monetary policy instruments. Unveiling the dashboard, the Governor"... Continue Reading

November 7, 2019

KUWAIT: The Central Bank of Kuwait (CBK) said yesterday that the current domestic account posted a surplus of KD 3.2 billion ($10.5 billion) in Q2 2019 against KD 2.6 billion ($8.5 billion) in the year’s Q1. The CBK reported in a press release, marking issuance of preliminary data of Kuwait balance of payments for Q2 2019 and the amended data for Q1, a 21.4 percent growth in Q2, reaching KD 528 million"... Continue Reading