Burgan Bank participates in Cedar-IBSi ‘Building a Future-Ready Bank' event
KUWAIT: Burgan Bank recently took part in the Cedar-IBSi event titled 'Building a Future-Ready Bank', joining industry leaders and top market influencers at Jumeirah Messilah Beach in vital conversations around the future of banking in Kuwait, as guided by the national goal to achieve the New Kuwait 2035 Vision. The Bank's participation, represented by Rami Al-Dhafiri, Assistant General Manager – Digital Transformation, echoes its steadfast commitment to exchanging expertise and vital knowledge as well as building valuable networks and partnerships, in a bid to catalyze the development of Kuwait's local economy and banking sector.
As part of Burgan Bank's participation, Al-Dhafiri contributed to a panel discussion on 'NextGen Transaction Banking & Payments,' which analyzed the influence of modern technologies on the market, how they are shaping the banking and finance sector, and the anticipated future foreseen as a natural evolution for the advancement unfolding today. Hosted by Cedar Management Consulting, a global strategy consulting firm, and IBS Intelligence, a leading FinTech research and advisory firm, the 'Building a Future-Ready Bank' event is part of a global series designed to spotlight innovation and leadership in banking technology and financial services.
'It is a privilege to be part of an institution as forward-looking as Burgan Bank, in a market that is as digitally ready as Kuwait,' Al-Dhafiri commented on his participation in the event. 'Thanks to the forward-looking ecosystem fostered by the nationwide Vision 2035, Burgan Bank continues to take confident leaps along its robust digital transformation strategy, allowing us to remain abreast of the highest international standards of excellence.'
In addition, the event covered other pressing topics concerning digital banking and artificial intelligence (AI), such as 'Future of Banking
A Business Leadership Strategic Perspective' and 'AI in Action
Pioneering the Next Wave of Digital', as well as an overview the emerging banking and technology trends. It is worth noting that Burgan Bank remains committed to participating in and sponsoring some of the most important local and regional industry events, confirming its steadfast resolve to be a proactive contributor to the comprehensive development of banking and finance in Kuwait and the region.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Kuwait Times
4 hours ago
- Kuwait Times
NBK hosts Generation Science students in partnership with KFAS
KUWAIT: Under their long-lasting strategic partnership, National Bank of Kuwait (NBK) hosted the Generation Science program launched by Kuwait Foundation for the Advancement of Sciences (KFAS) aimed to inspire students and involve them in fields like science, technology, engineering and mathematics at an early age. Through this partnership, NBK aims to motivate students to take interest and enhance their knowledge and skills in these key fields. The program is one of the pioneering programs that work towards developing Kuwait's youth and preparing a diverse generation of future leaders in science and technology able to impart knowledge in society and plan and manage projects according to scientific standards. Generation Science aims to develop the students' leadership and communication skills by placing them at the heart of community work and partnering with the academic, industrial, and social sectors to further enhance teaching these essential fields of learning. Additionally, the program plays a role in raising the students' awareness when it comes to different career paths, job market requirements, and available academic choices, as well as the future of careers and necessary skills in relation to the fields of science, technology, engineering and mathematics. In two batches, NBK received 100 students from KFAS, who participated in interactive workshops and learning sessions presented by engineers and experts in AI, technology, and cybersecurity, which gave them a unique chance to explore the banking work environment and the ways in which technology and innovation are applied in the banking sector. On this occasion, Emad Al-Ablani, Group Chief Human Resources Officer commented: 'We are pleased to host this distinguished group of aspiring Kuwaiti youth who look forward to enhancing their skills in essential fields such as science, technology, engineering, and mathematics. This visit stands as a valuable opportunity for the students to put what they learned into real practice, which helps raise their professional awareness.' Al-Ablani also added: 'This initiative reflects our deep commitment to the importance of investing in the youth of Kuwait and equipping them with the knowledge and tools necessary to face future challenges. Not only this, but this program also mirrors our dedication to supporting educational initiatives that help build an innovative and aware generation able to spearhead the country's development in line with its Vision 2035, which focuses on diversifying the economy and establishing a knowledge and innovation-based society.' Furthermore, Al-Ablani emphasized that NBK will always continue to utilize its efforts towards developing society and establishing a nurturing environment that promotes innovation and creativity through different programs and initiatives that aim to enable the youth and prepare qualified generations ready for the competitive job market. Reflecting its leading role in social responsibility, it is worth noting that NBK is keen on launching programs and initiatives in different fields and sectors and collaborating with strategic partners to make positive change in society and establish a motivational environment for new generations. Weyay Bank hosts students As part of its commitment to empowering young talent and fostering innovation in the financial sector, Weyay Bank welcomed students from the 8th edition of the Generation Science Program, organized by KFAS. The students, from Kuwait and across the GCC, were introduced to the bank's features and services through an immersive visit. The visit featured a comprehensive tour of the bank's departments, giving students a behind-the-scenes look at daily operations. Special emphasis was placed on the bank's digital approach and how modern technology is leveraged to deliver seamless and innovative banking experiences. Students engaged directly with Weyay team members, asking insightful questions about the challenges and opportunities in digital banking. This interaction enriched their understanding of the evolving financial landscape. A highlight of the visit was an introduction to Weyay's journey as Kuwait's first digital bank. Students learned about the Bank's vision, goals, and how it aims to redefine banking in Kuwait through a fully digital experience. They also explored the Weyay app features and how it empowers users to manage their finances with ease and flexibility. This experience offered students a real-world glimpse into the workings of a digital bank, and the role innovation plays in shaping the future of financial services. It also inspired them to pursue their passions in science and technology. Weyay Bank's hosting of the Generation Science Program reflects its ongoing commitment to supporting educational initiatives that build a knowledgeable, innovative generation that is ready to lead Kuwait and the region into the future.
Kuwait Times
9 hours ago
- Kuwait Times
NBK achieves top-tier ESG ratings across MENA region
Prestigious recognition from leading global agencies KUWAIT: In recognition of its leadership in advancing sustainability and corporate responsibility across the MENA region, National Bank of Kuwait (NBK) has earned high distinctions from leading global ESG rating agencies, underscoring the Bank's unwavering commitment to environmental responsibility, social impact, and robust governance. In its latest assessment, Morningstar Sustainalytics improved NBK's ESG Risk Rating from 27.4 (medium risk) to an impressive 19.4 (low risk), reflecting the Bank's enhanced ability to manage material ESG risks. Concurrently, MSCI upgraded NBK's ESG rating from 'BBB' to 'A'—a notable leap that places the Bank firmly among the top five regional banks in ESG ratings. ESG rating agencies, such as Morningstar Sustainalytics and MSCI, play a critical role in evaluating how institutions manage sustainability-related risks and opportunities. These agencies assess companies across a range of criteria—including environmental impact, social responsibility, and corporate governance—to provide stakeholders and investors with transparent, data-driven insights into organizational performance. High ESG ratings not only promote accountability but also guide capital allocation and investment decisions, reflecting how well highly rated companies are positioned for long-term resilience and responsible growth. Commenting on NBK's achievement, Amir Hanna, Group Chief Communications Officer at NBK, stated: 'NBK's recognition through these prestigious ratings underscores its growing focus on championing sustainable finance and reinforcing sustainability risk management across the region. It also serves as a global testament to its sustained success. The Bank continues to make significant strides in integrating ESG principles into its corporate culture and operational framework, firmly establishing sustainability as a foundational pillar of its strategic agenda. Hanna highlighted that these ratings reflect NBK's continued momentum in implementing its comprehensive ESG strategy, which is anchored in four strategic pillars: Governance for Resilience, Responsible Banking, Capitalizing on our Capabilities, and Investing in our Communities. These pillars serve as a roadmap for integrating sustainability across the Bank's operations and delivering long-term value to shareholders, clients, employees, stakeholders, and the broader society. He further emphasized that NBK's growing commitment to sustainable finance remains a cornerstone of its progress in ESG governance. He also noted that the Bank's vision for sustainability extends well beyond its internal ecosystem, reflecting a steadfast commitment to community development. Across the markets in which it operates, NBK continues to drive meaningful impact, particularly through its focus on education, healthcare, youth empowerment, and expanding access for all segments of society to benefit from its initiatives. Green bonds NBK's landmark issuance of the first Green Bonds by a Kuwaiti institution in 2024, valued at $500 million, stands as a clear testament to the strong confidence investors place in the Bank, as well as the alignment of its sustainability strategy with international standards for transparency and accountability. Through its Green Bond Allocation and Impact Report, NBK provided clear and credible insights into the deployment of proceeds, which were directed toward initiatives such as renewable energy, green buildings, and clean transportation—delivering tangible environmental outcomes including lower carbon emissions and enhanced energy efficiency. Measuring the bank's carbon footprint In addition to financing sustainable projects, NBK has aligned its operations with key international climate frameworks. It became the first bank in Kuwait to sign the Partnership for Carbon Accounting Financials (PCAF), a major step in measuring and disclosing the carbon footprint of its lending and investment portfolios. The Bank also continues to implement the recommendations of the Task Force on Climate-related Financial Disclosures (TCFD), embedding climate-related considerations into its governance structures, risk management, and strategic decision-making and has recently published its first TCFD report. In terms of NBK's environmental footprint, a target was set to reduce 25 percent of the Bank's operational emissions by 2025. As of 2024, NBK exceeded this target with a 28.3 percent reduction in operational emissions. A comprehensive framework NBK's commitment to sustainability is further reinforced by the implementation of a comprehensive Environmental and Social Risk Management (ESRM) framework, which integrates ESG considerations into to the Bank's risk management practices. This framework plays a critical role in identifying and mitigating environmental and social risks not only in credit assessments but also in project financing, investment decisions, and client engagement. By embedding ESG principles into its risk management and governance processes, NBK ensures that its activities consistently align with sustainable development objectives and uphold the highest standards of responsible banking. Equity & inclusion On the social and governance fronts, NBK has made significant strides in fostering an inclusive and equitable corporate culture. Through the publication of its Diversity, Equity & Inclusion (DE&I) Statement, NBK reaffirmed its pledge to build a diverse workforce and promote inclusive leadership. NBK continues to lead in championing women's empowerment through targeted leadership programs, most notably NBK RISE, a dedicated initiative designed to support the advancement of women in leadership roles. Moreover, the Bank continues to reinforce its commitment through mentorship opportunities, and inclusive workplace polices, solidifying its position as a regional model for the best-in-class organizational practices. By embedding ESG principles into the heart of its corporate strategy, NBK continues to enhance its resilience, elevate risk management, and unlock new opportunities for sustainable growth. The Bank's progress reflects not just adherence to global standards, but a proactive drive to lead the financial sector's transition toward a more sustainable and inclusive future. Looking ahead, NBK remains committed to advancing its ESG performance through innovation, transparency, and stakeholder engagement. It will continue to invest in sustainable solutions, adopt evolving international frameworks, and champion environmental and social progress across the region. With strong governance foundations, measurable impact, and a forward-looking approach, NBK is not only setting new benchmarks in sustainable finance but also shaping the regional ESG landscape for generations to come. •NBK's sustainability vision extends beyond its internal ecosystem to encompass the broader communities across the markets it serves •The latest ESG ratings underscore the Bank's expanding regional influence in advancing sustainable finance and reinforcing sustainability risk management practices •These recognitions serve as a global endorsement of NBK's significant strides in embedding ESG principles within its corporate culture and day-to-day operations •MSCI upgraded the Bank's rating from 'BBB' to 'A' •Morningstar Sustainalytics revised its risk assessment of NBK from 'Medium' to 'Low Risk'
Kuwait Times
9 hours ago
- Kuwait Times
Gulf Bank loan book grew 3.8% in H1 2025 driven by its corporate portfolio
The earnings webcast was held and presented by CFO David Challinor KUWAIT: Gulf Bank held its first half 2025 earnings webcast on Tuesday, July 29, 2025, to present and discuss the Bank's financial performance. The webcast was organized by EFG Hermes and presented by David Challinor, Chief Financial Officer of Gulf Bank. The discussion was moderated by Youssef Dib, from Investor Relations at Gulf Bank. Operating environment David Challinor, Chief Financial Officer of Gulf Bank, commenced the webcast with key updates regarding Gulf Bank's operating environment during first half 2025. Challinor stated: 'The first half of 2025 was marked by a dynamic operating environment and rising geopolitical tensions and oil price fluctuations have added volatility to regional markets and shifted governments priorities. These factors have also influenced market sentiment, creating a more cautious investment landscape. Locally, fiscal policy developments have also played a role in shaping market conditions. The most recent local government debt issuances will accelerate economic activity and enable faster participation by banks in financing national initiatives.' Challinor added, 'Against this backdrop, and despite continued pressure on margins across the sector, our financial performance reflects strong execution and a prudent approach to managing our operations. We continued to maintain a balanced approach between credit expansion and asset quality, ensuring the resilience of our loan book. Our low non-performing loan ratio and high coverage levels underscore the effectiveness of our risk management framework and our ongoing commitment to financial stability.' He added: 'We are also advancing our internal readiness for a potential Islamic Sharia-compliant conversion, subject to being granted with the necessary regulatory and shareholders' approvals. The essential systems, governance frameworks, and talent are currently being explored. We are carefully assessing all operational and market implications to ensure we would be well-prepared subject to obtaining the necessary approvals. In addition, we have recently signed a Memorandum of Understanding with Warba Bank stating the basis of cooperation in assessing a proposed merger between both banks independently, ensuring the best interests of all the Bank's shareholders in line with all regulations. Following that, we announced on July 28, 2025 that we had obtained approval from the Central Bank of Kuwait to engage and appoint a group of specialized consultancy firms with the necessary qualifications and expertise to carry out the feasibility study and due diligence for the potential merger.' Margins In response to questions raised regarding the net interest margins and the trend during Q2 on a sequential basis, David Challinor, Chief Financial Officer of Gulf Bank remarked: 'The margin expanded very strongly by a total of 14 basis points from Q1. Now, even though we saw a fall in the cost of funds during Q2 the market has recently become very competitive which is causing the cost of new deposits to rise and if this dynamic continues to persist, then we could be faced with some margin pressure even in the absence of cuts to benchmark rates.' Operating expenses In terms of operating expenses Challinor mentioned: 'We've seen a 6 percent growth in total operating expenses in H1 25 versus H1 24. I think given the potential Islamic banking conversion coupled with the potential merger, we are likely to have a higher absolute level of operating expenses in the second half than the first. Now, the increase in the cost to income ratio at H1 25 has been primarily by asset repricing on the income side, coupled with an uptick in the other expenses category. However, we did see an improvement in the cost-to-income ratio in the second quarter versus the first as the margin recovered, but I think the full year outlook is that the ratio is set to increase from FY24 levels'. Credit cost When asked about the credit cost and the Bank's asset quality, Challinor said: 'As I've mentioned on previous investor calls, for at least a year now, the vast majority of the Bank's credit costs are coming from the retail book and this trend continued into Q2. However, the Q2 credit costs for retail were the lowest since Q3 2023 which is an encouraging sign. On the corporate side, the book continues to perform exceptionally well with insignificant new NPLs. In terms of the guidance we gave at the beginning of the year we said FY25 credit costs are likely to fall in the 60 to 70 basis point range, which was down significantly from 75 basis points for FY24. For H1 25 we are sitting at 61 basis points, so I think the full year guidance of 60 to 70 continues to be appropriate at this stage.' Loan growth In regard to loan growth, Challinor noted: 'In Q2 we continued to grow the loan book, and the year-to-date growth was 3.8 percent for the first half of 2025. Now, when we compare it to the second half of last year, where we saw a contraction of 1.8 percent, H1 25 has witnessed a strong rebound from H2 24. And this rebound has been driven by our corporate business, which has grown 7.2 percent year to date versus the market growth, to the end of May 25, of 5.1 percent. So, we've gained market share in corporate this year and we also gained market share last year. Now when we look at retail, this continues to be a challenge in the current environment and according to the CBK data the growth to the end of May 2025 was only 1.2 percent which is perhaps indicative of the current higher rates and future rate expectations. In terms of the outlook for total loan growth for the full year 2025, we did guide for around mid-single digit loan growth, and we are currently on track to achieve this.' David Challinor •We maintained a balanced approach between credit expansion and asset quality, ensuring the resilience and integrity of our loan book. •We saw an improvement in the cost-to-income ratio in the second quarter versus the first as margins recovered. •The most recent local government debt issuances will accelerate economic activity and enable faster participation by banks in financing national initiatives.
