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BANKING

Kuwait consumer spending rebounds in June: NBK

July 22, 2018

Kuwait consumer spending rebounds in June: NBK

Kuwait’s consumer spending index increased 8.5 per cent year-on-year (y/y) in June, supported by a pickup in the consumption of durables and non-durables, said the National Bank of Kuwait (NBK) in its latest Economic Update.

The end of Ramadan helped boost spending on those components, the bank said in the Update.

Meanwhile, spending on services declined due to an early summer"... Continue Reading

Central Bank issues BOP report for Q1 2018

July 21, 2018

 Central Bank issues BOP report for Q1 2018

The Central Bank of Kuwait (CBK) published yesterday the preliminary data of the Balance of Payments (BOP) of the State of Kuwait for the first quarter of 2018 and the revised data of the fourth quarter of 2017.The Data show that the Current Account surplus (summing up receipts and payments between domestic economy and other economies in terms of goods, services and income) recorded a surplus of KD 1.6 million"... Continue Reading

Burgan Bank net income reaches KD50.5m in H1

July 19, 2018

Burgan Bank net income reaches KD50.5m in H1

Burgan Bank Group announced yesterday its first half earnings for the financial year 2018 reporting KD 50.5 million ($168 million) with a growth of 30 percent. During the second quarter the Bank registered KD 30.1 million ($100 million) growing 43 percent in comparison to the same period last year. The set of results for the period ending in 30th June 2018 demonstrated solid operating capabilities and efficiencies."... Continue Reading

Kuwait bank in merger talks to create $92bn Islamic lender

July 18, 2018

Kuwait bank in merger talks to create $92bn Islamic lender

Kuwait Finance House is seeking to hold talks with Bahrain’s Ahli United Bank for a potential merger that would create an Islamic lender with about $92 billion of assets, six months after negotiations broke down over price.

KFH sent a letter inviting Ahli United to sign a memorandum of understanding and a non-disclosure agreement"... Continue Reading

Jehad Al-Humaidhi appointed as AUB Deputy CEO – Banking Support Group

July 17, 2018

Jehad Al-Humaidhi appointed as AUB Deputy CEO – Banking Support Group

Ahli United Bank (AUB) has announced the appointment of Jehad Saud Al-Humaidhi as Deputy CEO – Banking Support Group as of 28 June 2018, after obtaining the approval of the Central Bank of Kuwait.

Jehad was formerly Senior General Manager – IT & Operations at Ahli United Bank and was appointed to succeed Ahmed Zulficar,"... Continue Reading

Burgan Bank re-certifies with ‘ISO 9001:2015’ across all of its operations

July 17, 2018

Burgan Bank re-certifies with ‘ISO 9001:2015’ across all of its operations

Burgan Bank, one of the most dynamic banks in Kuwait, recently announced that it has successfully re-certified with ISO 9001:2015 certification across all of its operations. Through this re-certification, Burgan Bank has once again demonstrated its ability to effectively and efficiently provide an internationally recognized quality management system, while continuously advancing its products and services.

"... Continue Reading

KFH, AUB mull possible merger

July 17, 2018

KFH, AUB mull possible merger

Kuwait Finance House (KFH) has invited Bahrain’s Ahli United Bank (AUB) to sign a memorandum of understanding and non-disclosure agreement to pursue strategic opportunities for global growth and expansion. The deal, if confirmed, aims to establish a new banking entity that will accommodate the rapid developments in the world banking industry, KFH said in a statement posted on Kuwait Stock Exchange’s"... Continue Reading

AUB wins prestigious ‘Best Retail Bank in Kuwait’ award in 2018

July 16, 2018

AUB wins prestigious ‘Best Retail Bank in Kuwait’ award in 2018

Ahli United Bank (AUB) announced that it has won the coveted ‘Best Retail Bank in Kuwait’ award in 2018 by Global Banking and Finance Review Magazine. The award reflects the Bank’s overall achievements across the retail banking landscape and its exceptional performance that are in accordance to the judging committee’s criteria. The Bank was recognized for its continued leadership"... Continue Reading

Bank of America Reports Second-Quarter 2018 Financial Results

July 16, 2018

Bank of America Reports Second-Quarter 2018 Financial Results

(AETOS Wire)-- Bank of America reported its second-quarter 2018 financial results today. The news release, supplemental filing and investor presentation can be accessed in the following ways:

KIB closing its $250 mln Murabaha

July 15, 2018

KIB closing its $250 mln Murabaha

KIB held an exclusive ceremony to mark the occasion of the Bank’s successful closing of a $250 million 3-year syndicated Murabaha financing facility. This landmark financing was concluded with a consortium of international and local banks viz; Standard Chartered Bank, First Abu Dhabi Bank, National Bank of Kuwait, Kuwait Finance House and Boubyan Bank.

Held"... Continue Reading

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