NBK profits jump 13%

Al-Sayer:
We Are Progressing Regularly to Record Another Year of Record Profits

Results Confirm Strength and Rigidity of Core Banking Activities

Local Operating Environment Continues to Strengthen our prospects for the future

Falcon:
The National Bank of Kuwait (BNK) reported a net profit of 185.9 million dinars ($ 613.8 million) in the first half of this year, Compared with 164.7 million dinars ($ 543.9 million) in the first half of last year, growth of 12.9 percent
Second quarter profit reached 92.3 million KD, compared to 79.3 million JD in the same period of 2017, a growth of 16.3%
Total assets increased by 5.7% at the end of June compared to end of June 2017 A 26.9 billion KD, while capital increases from 4.1% to 3 million KD rds. Total loans and advances amounted to 15.2 billion dinars at the end of June 2018, up 6.3% from the previous year, with customer deposits up 7.8% at the end of June. 14.6 billion dinars at the end of June 2018.
The NPL ratio of the total credit portfolio of the Bank was 1.40% at the end of June 2018. The loan coverage rate unproductive amount was 254%.
The Group also maintained the best capitalization levels, with a capital adequacy ratio of 17.2% at the end of June exceeding the required minimum levels.
Commenting on the results, Bank President Nasser Al-Sayer said: According to the results of the first half, QNB continues its trend towards a new year of record profits, thanks to the strong profitability trends achieved in the past year. ;last year. "
The bank continued its conservative strategy based on diversity, Grow at a steady pace despite critical challenges
The Group's net operating income grew by 10.9% in one year to reach 442.2 million of dinars, thanks to the strong growth of credit activities, which helped to improve margins through interest rate movements.Control of cost levels.
Al-Sayer said the l & # 39; Local operating environment continues to improve the positive outlook as capital expenditure plans progress, the greatest evidence being the country's high capital expenditure budget.
Kuwait is the local market, which is still witnessing tremendous opportunities in the Kuwaiti market in the context of the expectations of the role of the private sector in the important and the key in the implementation of infrastructure and development projects. Financing.
NBK retained its position as the leading banking sector as the primary beneficiary of these financing opportunities thanks to the size of the balance sheet, its dominant position in the market, and its unique capabilities and skills. .
Says the group continues to achieve solid financial results period after hour, which is reflected in the upward trend of the first half of the year figures and what it expects in the coming periods. He pointed out that NBK's earnings are still driven by core banking and business growth, in line with its ambition to diversify assets and sources of revenue across sectors and geographic regions. He pointed out that with the increase in the capital adequacy ratio, the stability of funding levels and the availability of sufficient liquidity, Al Watani continues to benefit from emerging opportunities at the local and regional level. regional level, highlighting the Group's focus on Islamic banking. Growth strategies and diversification.
He pointed out that the Boubyan Bank of the Group has achieved outstanding performance at a time when its contribution is increasing year after year in total profits, noting that it offers better opportunities and a better leadership position for NBK , J Enjoy a window on traditional and Islamic markets.
He adds that alongside the Kuwaiti market, Boubyan can, in the long run, serve the Islamic banking ambitions of the National Bank of Kuwait.
The Falcon reported that the geographical expansion of Al Watani has contributed to the implementation of the diversification strategy. Benefited from its efforts outside Kuwait, with international operations accounting for 28.2% of the total first half of 2018, confirming its position relative to similar banks.
The markets on which Al Watani seeks to continue growing at the regional level are the GCC countries as well as the Egyptian market, noting that he continues to identify key business growth opportunities. in various international markets.
revealed that this year Al Watani plans to expand its branch network in Saudi Arabia from a branch to three agencies, in addition to providing a wealth management service in the Kingdom to through a specialized company overseen by the Capital Market Authority of Saudi Arabia. In its constant quest for innovation and innovation, QNB is consolidating its leadership position in the future and ensuring new customers are acquired and preserved. Finally, it has invested in platforms to support the company's business. 39, global money transfer initiative. Successfully passed the toughest tests for SWIFT's global payment service (SWIFT GPI), the first Kuwaiti bank to introduce the latest cross-border conversion technology using RippleNet technology in collaboration with Ripple Labs to provide market-leading solutions. fast, secure and convenient cross-border payment to customers. (19659011) Top Rated

The National Bank of Egypt (QNB) has maintained its strong credit rating in all the Middle East banks with the unanimous approval of Moody's. s, Fitch, Standard & Bowers), backed by its strong capital and prudent credit policies, followed by a structured approach to management as well as the experience and stability of its administrative body.
The Bank is among the 50 safest banks in the world for the 12th consecutive year and was voted "Best Bank in Kuwait" by The Banker, Euromoney and Global Finance in 2017.
QNB has the widest reach a local and global network covering four continents and its global presence in many international financial centers, including New York, Europe, Singapore, China, the Middle East and North Africa. Related Documents