role bank plays in supporting national economy: El Saka

24/05/2017 05:42 AST

Kuwait International Bank (KIB) was recently awarded “Best Change Management — Kuwait” by The Banker Middle East; an organization specializing in financial news and analysis of banks and companies across the Middle East and beyond. KIB’s Acting Chief Executive Officer, Mohamed Said El Saka, received the award on behalf of the Bank at the Banker Middle East Industry Awards 2017 ceremony, which was recently held in Dubai.

KIB received this recognition as a result of the significant improvements in the Bank’s products and services, both in terms of quality and diversity; as the Bank has continued to record strong growth across performance indicators. KIB’s consistent solid performance has led to it offering some of the highest returns in the market for its deposits and savings products. The Bank has also witnessed enhanced customer service levels; as it has successfully implemented key improvements to its online banking services.

El Saka described this latest award as an important achievement for the Bank, adding: “Given the factors considered for this award, the fact that KIB was bestowed with “Best Change Management — Kuwait” Award serves to highlight the exemplary efforts exerted by KIB’s staff, its executive management team, and guidance from the Board of Directors. It is also a testament to KIB’s stable and sustainable growth in all areas, as the Bank continues to implement a clear and focused approach that has reflected positively on its performance and enabled it to successfully achieve its strategic objectives.”

El Saka further added that this prestigious award reaffirms the important role KIB plays in supporting the national economy, and the overall effectiveness of its business strategy. He also noted that the innovative digital services that the Bank continues to offer its customers are one more crucial component that greatly contributed to its sustainably strong performance.

El Saka concluded by extending his appreciation for the Board of Directors, the Fatwa & Sharia Board, the Executive Management, as well as KIB’s employees and customers for their support; and expressed his gratitude towards the Central Bank of Kuwait for its continuous guidance.

This accolade is the latest in a long string of international and regional awards garnered by KIB over the past couple of years, demonstrating KIB’s strong financial position and the successful implementation of its strategy, as the Bank moves towards achieving its long-term goal of becoming the “Islamic Bank of Choice in Kuwait”.

Arab Times

KIB reports KD 12 million net profit for H1, 2018


Kuwait International Bank (KIB) reported a net profit of KD 12 million attributable to shareholders and earnings per share at 12.82 fils for the first half of 2018. Net profit increased by 10% compar

Arab Times

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 cons

Arab Times

KIB successfully closes $250mn syndicated Murabaha facility


KIB has successfully closed a US$ 250 million 3-year Syndicated Murabaha Financing Facility with a consortium of international and local banks, which was oversubscribed. Standard Chartered Bank was t

Arab Times

Ticker Price Volume
SISCO 13.44 432,595
JADCO 23.24 26,909
SAMBA 29.80 1,824,433
EXTRA 54.30 397,415
KEC 10.44 169,610
SECO 18.40 732,542
FARM 18.72 38,399
KIB Sector Market
Dividend Yield (%)
Relative Strength
  • 1-Month
  • 3-Month
  • 1-Year
Volume Change
  • 10D Avg Vs 90D Avg
Price Vs…
  • 52-w high
  • 50-day moving avg.
  • 200-Day Moving Avg
Ticker Price Change
FAB 14.25 0.10 (0.70%)
RJHI 84.00 0.80 (0.96%)
NCB 41.45 0.00 (0.00%)
NBK 832.00 -3.00 (-0.36%)
SAMBA 29.80 -0.20 (-0.67%)
Marka narrows losses but problems continue


Amid an ongoing restructuring, Dubai-listed retailer Marka has seen its losses narrow in the second quarter, while also seeing its revenue slip. The company did manage, however, to post a gross profi

Gulf News

Batelco offers high-speed LTE services package


Batelco, the leading digital solutions provider in Bahrain, is set to offer a new high-speed LTE Data Roaming services package with options including a one-day data roaming in the GCC for only BD5 ($

Trade Arabia

Nakheel posts $683m net profit in H1


Nakheel, a leading global developer, said it has registered a net profit of Dh2.51 billion ($683 million) for the first six months of the year compared to Dh2.61 billion ($710 million) for the same p

Trade Arabia

Emaar Properties' H1 revenue surges 46pc to $3.12bn


Leading property developer Emaar has registered a revenue of Dh11.47 billion ($3.12 billion) for the first half of the year, up 46 per cent compared to Dh7.86 billion ($2.14 billion) last year led by

Trade Arabia

SABIC and Nottingham Spirk accelerate innovations


Leveraging its unique ability to expand value for its customers while also contributing to Saudi Vision 2030, SABIC, a global leader in the chemical industry, is investing in new applications and met

Saudi Gazette