Kuwait: KFH rebrands Ahli United Bank Egypt to KFH Egypt
The bank has now fully transitioned to operating under Islamic banking principles as part of the KFH, which is the world's second-largest Islamic bank and the largest bank in Kuwait by market value.
This move follows KFH's acquisition of Ahli United Bank Group - Bahrain in 2022 and the subsequent conversion of its operations to comply with Islamic banking regulations in December 2023.
The process was completed with the merger of Ahli United Bank - Kuwait in February 2024.
KFH is a key player in the global Islamic banking sector, with assets exceeding KWD 36.2 billion by the end of the third quarter (Q3) of 2024.
The group operates in 12 countries, managing a network of approximately 680 banking branches, 2,300 ATMs, and 18,000 employees worldwide.
KFH aims to drive innovation and excellence in Sharia-compliant financial services while strengthening its position as one of the most trusted and sustainable Islamic banks globally.
KFH Egypt is focused on advancing digital transformation by integrating technology into its services to enhance quality, efficiency, and security for customers.
The rebranding aligns with KFH Group's new visual identity under the slogan "Borderless Horizons," reflecting its commitment to growth, innovation, and leadership in Islamic banking.
The bank in Egypt has reported strong financial performance in 2024, with net profits rising 65% year-on-year (YoY) to EGP 5.5 billion.
Total assets grew by 29% to EGP 144 billion, while net income from returns increased by 52.4% to EGP 7.6 billion.
Net income from fees and commissions reached EGP 999 million.
Customer deposits saw a 30% increase to EGP 117 billion, while the total financing portfolio expanded by 26% to EGP 85.3 billion.
KFH Egypt now operates a network of 44 branches across the country, reinforcing its market presence and ongoing expansion strategy.
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