The Banking Executive Magazine - October Issue 2022

Al Ahli Bank of Kuwait (ABK) announced a sustained strong performance during the first nine months of 2022. These positive results demonstrate the Bank’s long-term strategy, which focuses on customer-centric products, developing strategic partnerships, and investing in human capital. The Bank achieved a Net Profit of KD27.5 million for the nine month period ended 30 September 2022, representing 31% growth compared to 2021. Net Operating Profit for the same period reached KD72.5 million, an increase of 17% compared to the corresponding period in 2021. Earnings Per Share (EPS) is now 12 fils compared to 8 fils in the same period last year. Total Assets stood at KD6 billion, representing 7% growth over the previous fiscal year, Customer Deposits grew by 7%, reaching KD4.2 billion, and the Bank’s Loan Portfolio increased by 14% to KD3.8 billion. The Non-Performing Loan (NPL) ratio stood at 1.76%, and NPL coverage was 315%. The Capital Adequacy Ratio (CAR) reached 15.98% while the Shareholders’ Equity stood at KD508 million. Commenting on the results, Mr. Talal Behbehani, Chairman of Al Ahli Bank of Kuwait, said, “The financial results strongly reflect the Bank’s stable position and is the outcome of the prudent strategic approach being enacted by our executive team.” Mr. Behbehani added, “The numbers are reflective of the healthy growth of our balance sheet and of our strong capital position. Customer experience remains a key focus of our strategy that is based on three pillars: create value and expand our core segments and the BANKING EXECUTIVE 30 ISSUE 166 OCTOBER 2022 AL AHLI BANK OF KUWAIT RECORDS STRONG GROWTH IN FIRST 9 MONTHS OF 2022