Latest news with #ABK
Kuwait Times
14-05-2025
- Business
- Kuwait Times
Al-Ahli Bank of Kuwait Group holds Q1 2025 analyst conference call
ABK's diversified footprint continues to drive its growth momentum KUWAIT: Al-Ahli Bank of Kuwait (ABK) recently hosted its Q1 2025 analyst conference attended by Abdulla Al-Sumait, Acting Group Chief Executive Officer; Shiamak Soonawalla, Group Chief Finance Officer; Abdulaziz Jawad, Chief Strategy Officer; and Osama Ezzeldin, Assistant General Manager of Strategy and Follow Up. Al-Sumait began with discussing the financial highlights for Q1 2025. 'ABK achieved a healthy net profit growth of 8 percent to KD 15.7 million. Earnings per share remained stable at 5 fils, and our capital adequacy ratio stood robustly at 16.78 percent.' 'On the lending side, ABK's loan portfolio expanded by 10 percent year-on-year, supported by our disciplined credit underwriting standards. Asset quality remains strong, with our NPL ratio well controlled at 1.38 percent, reflecting our continued focus on maintaining strong asset quality,' Al-Sumait said. He added, 'Our diversified footprint continues to drive our growth momentum. Our international operations, including our UAE branches and ABK-Egypt, contributed a solid 40 percent of operating income and accounted for 37 percent of total assets, highlighting the strength of our regional diversification strategy.' Al-Sumait shared that ABK launched key strategic initiatives during the quarter to reinforce its competitive advantage and enhance customer experience. Major achievements in Q1 2025 included the launch of its new mobile banking app in Kuwait, featuring enhanced features and a new design, the introduction of a free international call service for customer support, and an enhanced customer service model with virtual service available in branches. He concluded, 'As we look ahead, ABK remains focused on delivering sustainable, long-term value. We will continue to pursue strategic expansion opportunities, strengthen our regional presence, and introduce innovative financial solutions tailored to meet the evolving needs of our customers.' ABK's Chief Strategy Officer Abdulaziz Jawad ABK Group CFO Shiamak Soonawalla Financial indicators On his part, Soonawalla discussed ABK's financial highlights for Q1 2025. He said, 'We achieved a healthy net profit growth of 8 percent year-on-year, with KD 15.7 million net profit attributable to shareholders. Earnings per share remained stable at 5 fils, and our operating income for the period reached KD 50.4 million, while operating profit stood at KD 29.3 million. This was supported by proactive cost management and continued revenue momentum across business lines.' ABK's asset quality remains robust, with the Group's non-performing loan (NPL) ratio maintained at a healthy 1.38 percent. The Group's loan loss coverage ratio held firm at 433 percent, confirming strong credit quality. Furthermore, provisions exceeded the IFRS 9 requirements, in accordance with Central Bank of Kuwait guidelines, as ABK continues to apply a prudent provisioning policy. Soonawalla added, 'We managed to maintain our net interest margin at 2.1 percent levels, although operating income marginally declined due to funding cost pressures and lower fees and commission income. Return on Average Equity (ROAE) delivered a healthy 8.1 percent, underlining ABK's strength in sustaining returns and driving long-term shareholder value. Liquidity continues to be a key strength for us, as evidenced by a liquidity coverage ratio of 255 percent and a net stable funding ratio of 109 percent, both comfortably above regulatory thresholds. Customer deposits remained resilient, totaling KD 4.4 billion, which represents 66 percent of our total liabilities. This further reinforces the strength and stability of our funding base.' He highlighted that the Group's strong start to 2025 reflects ABK's effective execution of strategic priorities and the leveraging of our core banking franchise alongside diversified income streams to drive sustainable growth. Notably, operating profit grew by 5 percent, highlighting the Group's enhanced operational efficiency. Commercial Banking remained the largest contributor to our operating income during the quarter, accounting for 49 percent, followed by Retail Banking at 39 percent, and Treasury and Investments at 12 percent. Our asset allocation remains strategically balanced, with 55 percent allocated to Commercial Banking, 12 percent to Retail Banking, and 33 percent to Treasury and Investments. He added, 'Our focus on operational excellence, digital transformation, and strategic investments continues to yield meaningful improvements. During Q1 2025, ABK's cost-to-income ratio significantly improved to 41.9 percent, down from 46.4 percent year-on-year, reflecting greater efficiency and disciplined cost management across the Group. As of Q1 2025, total assets expanded to KD 7.4 billion, delivering strong year-on-year growth of 13 percent. Net loans and advances increased by 10 percent to KD 4.7 billion, demonstrating healthy lending activity and prudent balance sheet expansion.' Soonawalla closed, 'Our Q1 2025 results highlight our solid profitability, disciplined risk management, and strengthened balance sheet. ABK remains firmly positioned to deliver sustainable growth and create enduring value for shareholders. With a strong foundation and a clear strategic focus, we are confident in our ability to sustain momentum throughout 2025.' The local and global economy Jawad mentioned that the sharp escalation in trade tensions and high policy uncertainty are expected to weigh heavily on global economic activity. According to the latest IMF projections, global GDP growth is now projected at 2.8 percent in 2025 and 3.0 percent in 2026. This marks a downward revision from the earlier forecast of 3.3 percent for both years. Global headline inflation is expected to decline at a slightly slower pace than what was expected in January, reaching 4.3 percent in 2025 and 3.6 percent in 2026. When it comes to Kuwait, the IMF has revised its 2025 GDP growth forecast for Kuwait to 1.9 percent. The adjustment reflects a more measured recovery pace, although domestic demand remains strong and oil output continues to recover. Inflation is expected to stabilize at 2.5 percent, supported by effective monetary policy by the Central Bank of Kuwait. Jawad highlighted, 'In March, Kuwait introduced a new public debt law, setting a borrowing ceiling of KD 30 billion and permitting the issuance of financial instruments with maturities up to 50 years. The move aims to strengthen financial stability, support Kuwait Vision 2035, diversify funding sources, and enhance Kuwait's position as a regional financial hub.' Exceptional results Jawad continued, 'Our strategic focus continues to be on salaried Kuwaitis and high-income expatriates, while placing growing emphasis on youth, who represent the future. We are continuously enhancing our youth offering to further strengthen our overall value proposition. As a result, our retail loan portfolio grew 1.75 times faster than the market in Q1 2025. We also enhanced our cards portfolio with a new prepaid card featuring a dual rewards program.' Furthermore, he affirmed, 'ABK maintains strong credit ratings of 'A' from Fitch and 'A2' from Moody's, reflecting its robust financial position, prudent risk management, and commitment to long-term stability.' Egypt and the UAE Regarding Egypt's macroeconomic landscape, the country is making progress on its macro-economic reform agenda despite regional challenges. The IMF completed the fourth review of Egypt's Extended Fund Facility (EFF), disbursing $1.2 billion and approved an additional $1.3 billion under the Resilience and Sustainability Facility (RSF). Although Egypt's inflation rose slightly to 13.9 percent in April 2025, up from 13.6 percent in March, the rise remains in line with market expectations, reflecting stability despite seasonal demand pressure. GDP growth accelerated to 4.3 percent in Q2 FY 2024/25. Moving on, Jawad shed light on the UAE stating, 'ABK, through its DIFC branch, has successfully closed a landmark $1 billion global syndicated term loan facility for a period of over three years, marking its largest debt facility to date. This significant achievement affirms ABK's robust standing in the financial markets.' The syndication was initially launched at $750 million; however, due to excessive oversubscription by 60 percent, the facility was upsized to $1 billion. This positive response highlights the strong liquidity position and confidence that both regional and international lenders, including those from the Middle East, US, Europe, and Asia, have in ABK. Jawad affirmed, 'This achievement reflects the trust and confidence that our lenders have in our financial stability and strategic vision. We are committed to utilizing these funds to enhance our service offerings and continue to foster sustainable growth.' 'Alongside our funding activities, ABK-UAE continued to advance its strategic agenda in the real estate sector. As a continuation of our Q4 2024 update, ABK-UAE successfully onboarded its first real estate escrow customer, marking a key milestone as the first Kuwaiti bank to offer this service in the UAE. With additional clients in the pipeline, we are now assessing the extension of these services to Abu Dhabi. This aligns with our strategy to strengthen our footprint and competitiveness in the UAE financial sector,' Jawad continued. Complementing the real estate escrow rollout, a dedicated UAE mortgage service for Private Banking clients in Kuwait was also launched. To enhance this service, real estate brokers are being brought on board as key partners, ensuring a more streamlined client experience. ESG ABK continued to build momentum around its ESG agenda, laying the groundwork for future initiatives and enhancements. The Bank remains committed to further integrating ESG principles into key business areas. Looking ahead, ABK plans to publish its updated sustainability report, assess its ESG maturity, strengthen internal capabilities, and explore opportunities that support sustainable value creation. Building on a strong start to 2025, ABK remains committed to accelerating momentum, executing its strategic agenda with discipline, and creating long-term shareholder value.
Kuwait Times
08-05-2025
- Business
- Kuwait Times
ABK announces 8% growth in net profit to KD 15.69 million in Q1 2025
KUWAIT: Al-Ahli Bank of Kuwait (ABK) Group announced its financial results for Q1 2025, reflecting continued outstanding performance and growth across financial indicators. The Group recorded a net profit of KD 15.69 million, up 8 percent year-on-year. Earnings per share stood at 5 fils, and operating profit increased by 5 percent to KD 29.27 million. Total assets grew year-on-year by 13 percent to KD 7.36 billion while customer deposits rose 12 percent to KD 4.40 billion, and loans and advances grew by 10.5 percent to KD 4.72 billion. The non-performing loan (NPL) ratio stood at 1.38 percent, covered by provisions at 433 percent. The Capital Adequacy Ratio (CAR) was 16.78 percent, and shareholders' equity rose by 8.3 percent to KD 642.85 million. Commenting on the results, Talal Mohammed Reza Behbehani, Chairman of ABK Group, said, 'The Q1 2025 results reflect growth across our financial indicators and our ability to achieve our strategic objectives through a diversified business model, carefully considered strategic investments, and prudent risk management.' He emphasized that the performance indicators reflect the Group's balanced operations, strong financial position, and successful strategy for sustaining growth across sectors. He highlighted ABK's continued focus on increasing its market share through continuous innovation in banking solutions. Behbehani noted that ABK successfully achieved its goals, maintained a strong financial position, solid profitability, outstanding operational performance, and expanded banking services to meet the needs of diverse customer segments while keeping up with ongoing changes in the banking industry. He added that the financial results come as ABK continues to adopt digital transformation, innovation, flexibility, and improved operational efficiency. Behbehani stated that ABK is actively executing its digital transformation plan, achieving notable successes, such as continuously enhancing the Bank's official website, launching the new mobile application with advanced features for around-the-clock customer service at industry-leading standards, and forming strategic partnerships with global organizations to leverage AI technologies across Group operations. He affirmed the Bank's commitment to the highest quality and security standards to attract customers and position ABK as a preferred banking partner. Seizing opportunities Behbehani added that ABK is keen to seize opportunities across different global markets to ensure thoughtful expansion, maintain a strong financial position, and continuously deliver added value to all stakeholders. He stressed ABK's commitment to supporting economic growth and development in Kuwait by financing infrastructure projects, supporting entrepreneurs, promoting financial inclusion, and developing operational capabilities in Kuwait, Egypt, and the UAE. He also noted that ABK maintained high credit ratings of 'A' from Fitch and 'A2' from Moody's, confirming the Group's financial strength and resilience. He emphasized the Group's commitment to ESG principles, integrating them across daily operations to improve global rankings and reduce operational costs positively impacting financial indicators. Behbehani thanked the Central Bank of Kuwait, Kuwait Banking Association, Central Bank of the UAE, Central Bank of Egypt, and all regulatory authorities in Kuwait, Egypt, and the UAE for their continued support. Abdulla Al-Sumait, Acting Group CEO of ABK Investment yields Abdulla Al-Sumait, Acting Group CEO of ABK, stated, 'The financial results demonstrate our operational strength and resilience, helping us sustain net profit growth. They also show that the Group continues to reap the benefits of investments across sectors to enhance competitiveness in Kuwait and the regional markets where we operate, including Egypt and the UAE.' He highlighted that ABK secured USD 1 billion in financing in Q1 2025 — the highest in its history — reflecting the Group's robust financial position and liquidity, and the confidence of investors from the Middle East, the US, Europe, and Asia. These funds will be used to maintain financial stability, enhance customer service, develop operations, pursue sustainable growth, and seize upcoming opportunities. He also noted the signing of a $50 million credit facility agreement between ABK's DIFC branch and the Uzbek Industrial and Construction Bank (SQB), strengthening ABK's strategic diversification and global trade relations. Al-Sumait highlighted ABK-Egypt's expansion efforts, with the opening of a new branch in Palm Hills, 6th of October City, bringing the branch network to 46 across 18 governorates in Egypt. This aligns with a strategy to expand geographically, increase the customer base, and offer diverse banking products and services to deliver a simpler banking experience. He emphasized the Bank's ongoing investment in developing employee capabilities through specialized training programs, enabling innovation in banking solutions and services to meet customer expectations and ensure smooth financial transactions. Community initiatives Al-Sumait noted that Q1 2025 witnessed several community initiatives by ABK under its corporate social responsibility program, specifically during the recent holy month of Ramadan. This includes distributing iftar meals across Kuwait, providing food baskets in collaboration with the Kuwait Red Crescent Society, continuing sponsorships with the Kuwaiti Al-Arabi Sports Club for futsal and penalty shootout tournaments, launching an innovative TV advertisement, among other activities demonstrating ABK's commitment to supporting community success. 'Let's Be Aware' campaign In conclusion, Al-Sumait revealed that ABK continues to support the 'Let's Be Aware' financial literacy campaign in cooperation with the Central Bank of Kuwait and the Kuwait Banking Association, offering informative content across its social media platforms to promote financial inclusion, raise awareness against banking fraud, and noting ABK's recognition as one of the top banks supporting the campaign.
Barnama
24-04-2025
- Sport
- Barnama
Arif Aiman Pledges To Stay With JDT
KUALA LUMPUR, April 24 (Bernama) -- Despite having the potential to make a name for himself abroad, sensational winger Arif Aiman Mohd Hanapi remains loyal to local football giants Johor Darul Ta'zim (JDT). The 2024-2025 National Football Awards (ABK) Most Valuable Player (MVP) said he still needs to work hard to become a higher quality player to help the Southern Tigers face greater challenges in the future. "My challenges in Malaysia or in JDT are enormous. But it's not easy for me to stay in JDT forever and I need to work harder to keep my position. bootstrap slideshow "Maybe the supporters or the media like to say there are offers from outside (clubs). But as a player, I know how difficult it is for clubs from outside to find players in Malaysia. I think I will stay at JDT forever,' he said. He said this when met after the ABK 20242-2025 ceremony here, last night. Yesterday, Arif Aiman made history when he became the first player to be named MVP for the fourth consecutive time in ABK 2024-2025. The success put the national player in a class of his own when he surpassed the achievements of former national striker Norshahrul Idlan Talaha who won a hat-trick in the 2010 to 2012 seasons. The 22-year-old player also dominated three other categories, namely the Best Midfielder, the Best Goal of the Malaysia League (M-League) 2024-2025 and also the Fans XI (Forward). Arif Aiman continued to make the Malaysia League this season a stage for him to demonstrate his prowess by scoring 12 goals and 13 'assists' to help the Southern Tigers lift the Super League, Charity Shield and FA Cup and advance to the Malaysia Cup final against Sri Pahang FC at the Bukit Jalil National Stadium, this Saturday.
The Sun
24-04-2025
- Sport
- The Sun
Arif Aiman makes history with fourth consecutive MVP crown
JOHOR Darul Ta'zim (JDT) star Arif Aiman Mohd Hanapi made history tonight by becoming the first player to be crowned Most Valuable Player (MVP) for the fourth consecutive time at the 2024–2025 National Football Awards (ABK) held here. The national player's remarkable achievement places him in a league of his own, surpassing the record of former national striker Norshahrul Idlan Talaha, who won the title three times in a row from 2010 to 2012. It was also a memorable night for the 23-year-old, who swept three other categories - Best Midfielder, Best Goal in the Malaysia League (M-League) 2024–2025, and Fans XI (Forward). This marks Arif Aiman's first win in the Best Midfielder category (based on the position registered by the club), having previously won the Best Forward title three times from 2021 to 2023. Arif Aiman continued to shine in this season's M-League, showcasing his brilliance with 12 goals and 13 assists, helping the Southern Tigers to lift the Super League and FA Cup trophies, while also reaching the Malaysia Cup final against Sri Pahang FC which will be played at the National Stadium, Bukit Jalil this Saturday. Although he is now the most successful player in terms of the highest achievement, Arif Aiman admitted that he is still not satisfied with all his accomplishments so far and will strive to deliver even better performances in the future. 'Alhamdulillah, I didn't expect to win the MVP award. But every year is a big challenge for me. 'I feel I'm still not satisfied. I will give my best until I feel proud of myself,' he told reporters after the ceremony. Meanwhile, Arif Aiman's teammate, Bergson da Silva, also drew attention after winning the Super League Golden Boot and Best Foreign Player award, having excelled as the top scorer with 32 goals in total this season in the league. In fact, that goal tally is his highest since playing in the Malaysian League with JDT, with the last time he emerged as top scorer being in the 2022 season with 29 Super League goals. In the Best Coach category, Kuching City FC head coach Aidil Sharin Sahak caused an upset by clinching the award for the first time, beating two other nominees, Hector Bidoglio (JDT) and Kinoshi Katsuhito (Selangor FC). Having been nominated from 2019 to 2021, the Singaporean-born coach finally proved his credibility by winning the award after leading Kuching City to fourth place in the Super League in only their second season in Malaysia's top-flight league. It marks the club's best achievement since its founding as an amateur team competing in the People's Football League in 2015, and now standing proudly among the top-tier Super League teams. Overall, the 2024–2025 National Football Awards (ABK) saw JDT dominate eight of the main categories contested this time. In addition to the three awards won by Arif Aiman and two by Bergson, Ahmad Syihan Hazmi Mohamed lived up to expectations by successfully defending his Best Goalkeeper crown for the third consecutive time, while Feroz Baharudin took home the Best Defender trophy for the first time. As Super League champions for the 11th consecutive time, JDT were also named Best Team of the season, bringing their total haul to eight major awards under Bidoglio's leadership. The full list of 2024–2025 National Football Awards (ABK) winners is as follows: Best Goalkeeper: Ahmad Syihan Hazmi Mohamed (JDT) Best Defender: Feroz Baharudin (JDT) Best Midfielder: Arif Aiman Mohd Hanapi (JDT) Best Forward: Paulo Josue (Kuala Lumpur City FC) Best Coach: Aidil Sharin Sahak (Kuching City FC) Best Foreign Player: Bergson da Silva (JDT) Best Young Player: Haqimi Azim Rosli (KLC) Best MFL Cup Player: Gabriel Nistelrooy Tamin (JDT2) Most Valuable Player (MVP): Arif Aiman Mohd Hanapi (JDT) Fair Play Award: Terengganu FC Best Team: JDT Best Goal (Malaysia League 2024–2025): Arif Aiman Mohd Hanapi (JDT) MFL Cup Golden Boot: Gabriel Nistelrooy Tamin (JDT2) – 24 Goals Super League Golden Boot: Bergson da Silva (JDT) – 32 Goals Super League Golden Boot (Local): Paulo Josue (Kuala Lumpur City FC) – 17 Goals Best Supporters: Boys of Straits (JDT)
The Sun
24-04-2025
- Sport
- The Sun
ABK: Arif Aiman makes history with fourth consecutive MVP crown
JOHOR Darul Ta'zim (JDT) star Arif Aiman Mohd Hanapi made history tonight by becoming the first player to be crowned Most Valuable Player (MVP) for the fourth consecutive time at the 2024–2025 National Football Awards (ABK) held here. The national player's remarkable achievement places him in a league of his own, surpassing the record of former national striker Norshahrul Idlan Talaha, who won the title three times in a row from 2010 to 2012. It was also a memorable night for the 23-year-old, who swept three other categories - Best Midfielder, Best Goal in the Malaysia League (M-League) 2024–2025, and Fans XI (Forward). This marks Arif Aiman's first win in the Best Midfielder category (based on the position registered by the club), having previously won the Best Forward title three times from 2021 to 2023. Arif Aiman continued to shine in this season's M-League, showcasing his brilliance with 12 goals and 13 assists, helping the Southern Tigers to lift the Super League and FA Cup trophies, while also reaching the Malaysia Cup final against Sri Pahang FC which will be played at the National Stadium, Bukit Jalil this Saturday. Although he is now the most successful player in terms of the highest achievement, Arif Aiman admitted that he is still not satisfied with all his accomplishments so far and will strive to deliver even better performances in the future. 'Alhamdulillah, I didn't expect to win the MVP award. But every year is a big challenge for me. 'I feel I'm still not satisfied. I will give my best until I feel proud of myself,' he told reporters after the ceremony. Meanwhile, Arif Aiman's teammate, Bergson da Silva, also drew attention after winning the Super League Golden Boot and Best Foreign Player award, having excelled as the top scorer with 32 goals in total this season in the league. In fact, that goal tally is his highest since playing in the Malaysian League with JDT, with the last time he emerged as top scorer being in the 2022 season with 29 Super League goals. In the Best Coach category, Kuching City FC head coach Aidil Sharin Sahak caused an upset by clinching the award for the first time, beating two other nominees, Hector Bidoglio (JDT) and Kinoshi Katsuhito (Selangor FC). Having been nominated from 2019 to 2021, the Singaporean-born coach finally proved his credibility by winning the award after leading Kuching City to fourth place in the Super League in only their second season in Malaysia's top-flight league. It marks the club's best achievement since its founding as an amateur team competing in the People's Football League in 2015, and now standing proudly among the top-tier Super League teams. Overall, the 2024–2025 National Football Awards (ABK) saw JDT dominate eight of the main categories contested this time. In addition to the three awards won by Arif Aiman and two by Bergson, Ahmad Syihan Hazmi Mohamed lived up to expectations by successfully defending his Best Goalkeeper crown for the third consecutive time, while Feroz Baharudin took home the Best Defender trophy for the first time. As Super League champions for the 11th consecutive time, JDT were also named Best Team of the season, bringing their total haul to eight major awards under Bidoglio's leadership. The full list of 2024–2025 National Football Awards (ABK) winners is as follows: Best Goalkeeper: Ahmad Syihan Hazmi Mohamed (JDT) Best Defender: Feroz Baharudin (JDT) Best Midfielder: Arif Aiman Mohd Hanapi (JDT) Best Forward: Paulo Josue (Kuala Lumpur City FC) Best Coach: Aidil Sharin Sahak (Kuching City FC) Best Foreign Player: Bergson da Silva (JDT) Best Young Player: Haqimi Azim Rosli (KLC) Best MFL Cup Player: Gabriel Nistelrooy Tamin (JDT2) Most Valuable Player (MVP): Arif Aiman Mohd Hanapi (JDT) Fair Play Award: Terengganu FC Best Team: JDT Best Goal (Malaysia League 2024–2025): Arif Aiman Mohd Hanapi (JDT) MFL Cup Golden Boot: Gabriel Nistelrooy Tamin (JDT2) – 24 Goals Super League Golden Boot: Bergson da Silva (JDT) – 32 Goals Super League Golden Boot (Local): Paulo Josue (Kuala Lumpur City FC) – 17 Goals
