KD 22.6 million profit for the first half

ABK said it maintained growth in the first six months of 2019, posting net profit up 18 percent to 22.6 million dinars. "Operating profit in the first half increased by 4% to 53.7 million KD, badets rose 4% to 4.73 billion KD, earnings per share remained stable at 12 yen. because of the impact of the cost of issuing bonds, "Al-Qabas said in a statement. Additional capital of the first tranche (AT-1).

Asset quality remained strong with a bad debt ratio of 1.96%, a 318% hedge, capital of KD 591.1 million and 18.73% of adequate capital during the period.

"Thanks to its cautious policy and commercial growth strategy, NCB has been able to achieve strong financial results while maintaining its strong financing capabilities and capital ratios," said Talal Mohammed Behrahani, chairman of the board of directors. As our growth momentum continues, we are well positioned to implement our strategic priorities and deliver long-term, sustainable value to our shareholders. "

"Our continued growth in corporate and personal banking demonstrates the strength and integrity of our lending portfolio, which is supported by the state-of-the-art technology we use in all of our business areas." said Michel Akkad, managing director of the Ahli Bank Group. The transition to digital banking is a strategic priority for Ahli Bank of Kuwait and we are developing a multichannel distribution model that provides customers with simpler and more streamlined services across our multiple channels to provide banking services. With this goal, we will ensure that NBK's digital transformation is inclusive, which will have a direct positive impact on customer satisfaction. "

In accordance with the NCB's trestle strategy, our bank launched a series of innovative digital banking services in 2019 through the application of mobile phones. These services include ABKPay, a service that allows Kuwaiti customers to split billing payments or transfer funds to their accounts with the NCB from other local bank accounts, as well as Global View, which allows customers to to consult their multiple accounts with Ahli Bank of Kuwait. In Kuwait, the United Arab Emirates or Egypt, through a single sign-on process and online services, NCB clients can open their savings account or deposit accounts online without going to any other bank. of our branches.

Kuwait's Al-Ahli Bank won the Middle East Deal of the Year award in 2018 for its outstanding AED 800 million financing facilities last year. The banker was on the "movers" list in the Middle East and ranked first for Kuwait's capital adequacy ratio. Al Ahli Bank of Kuwait was among the 10 safest banks in the Middle East. Michel Akkad, Group Chief Executive Officer, was highly appreciated by Euromoney for its outstanding contribution to the financial services sector in the Middle East.

Al Ahli Bank recently participated as lead bank in the closing of the $ 470 million ALAFCO transaction, an unsecured Murabaha facility for five years, confirming the bank's ability to take the lead in setting up syndicated loans on the market. Structured loans in the region.