Latest news with #Behbehani
Kuwait Times
10 hours ago
- Business
- Kuwait Times
ABK reports 9% y-o-y growth in net profit to KD 31.73 million for H1 2025
Solid financial results affirm bank's position as a leading financial institution KUWAIT: Al-Ahli Bank of Kuwait (ABK) proudly announced its robust financial results for H1 2025, once again affirming its position as a leading financial institution. Financial performance ABK Group recorded a net profit attribute to shareholders of KD 31.73 million, up 9 percent year-on-year. Earnings per share stood at 11 fils, and operating profit increased by 18 percent to KD 62.94 million. Operating income increased year-on-year by 8 percent to KD 108.83 million. Total assets grew year-on-year by 8 percent to KD 7.19 billion, loans and advances grew by 5 percent to KD 4.72 billion, while customer deposits rose 9 percent to KD 4.32 billion, affirming the Group's reputation as a trusted financial partner. The non-performing loan (NPL) ratio stood at 1.35 percent, covered by provisions at 447 percent. The Capital Adequacy Ratio (CAR) was 16.96 percent, and shareholders' equity rose by 4.6 percent to KD 635.38 million, further underscoring ABK's financial stability. On this occasion, Talal Mohammad Reza Behbehani, Chairman of ABK, stated that the Group's results for the first half of 2025 reflect the strength of its financial position and its success in achieving strategic objectives. He emphasized, 'These achievements were made possible through the implementation of diverse plans aimed at developing ABK's banking services and products, clearly demonstrating the Group's ability to maximize returns for shareholders.' Behbehani added that ABK's profits were achieved as part of the ongoing development of the Bank's strategy to keep pace with advancements in the banking industry locally, regionally, and globally. He explained that the Group's prudent approach in mitigating global economic challenges contributed to continued growth across of its key financial indicators during the first six months of 2025. He stressed that digital transformation remains a core pillar of ABK Group's operations, with a focus on integrating advanced digital technologies across the organization to ensure seamless customer experience across our different lines of business. The Bank is also committed to harnessing artificial intelligence in its operations to elevate the quality of banking services and diverse solutions provided to all customer segments. Behbehani further emphasized that ABK Group dedicates all its resources to supporting the successful realization of the New Kuwait 2035 vision and is committed to working alongside relevant stakeholders to facilitate the financing and development of upcoming national projects. Awards, ratings and ESG Behbehani revealed that the Group has continued to earn the confidence of global institutions, as evidenced by several awards received since the beginning of the year. These include the 'Best Digital Transformation Initiative' award at the 2025 MEED Middle East Banking Excellence Awards, as well as the 'Best Call Center' in the banking sector in Kuwait award from Global Brands Magazine. He noted that these awards came as a result of recent enhancements to ABK's customer service center, the launch of an entirely new mobile application and the ongoing development of the Bank's website to provide world class round-the-clock customer service. He also highlighted that ABK has successfully maintained its strong credit ratings of 'A' from Fitch and 'A2' from Moody's, which underscores the Group's solid financial position and its ability to navigate challenges while meeting the expectations of financial rating agencies evaluating the performance of Kuwait's banking sector. Behbehani pointed out that ABK Group is committed to applying sustainability standards across all of its daily operations and in all markets where it operates. He emphasized the Bank's recent recognition as a leading institution in environmental sustainability through its ranking in Kuwait's first-ever Climate Sustainability Index. He confirmed that the Group will continue to publish comprehensive annual sustainability reports to provide transparent updates on developments across all aspects of its operations. In conclusion, Behbehani expressed his gratitude to the Board of Directors, executive management and all ABK employees for their ongoing efforts and contributions to the success of the Group's plans and its growing position as a leader in the banking sector. He also acknowledged the continuous support ABK receives from all regulatory authorities in Kuwait, Egypt and the UAE, whose collaboration helps foster growth and advancement across the banking sector. Abdulla Al-Sumait ABK Deputy Group CEO Future plans In turn, Abdulla Al-Sumait, Deputy Group CEO of ABK, affirmed, 'The Group's profits for the first half of 2025 are the result of close collaboration between various divisions and teams to successfully execute the Group's strategic plans. They reflect ABK's ability to improve its profitability and capital strength indicators and effectively respond to evolving market dynamics.' Customer engagement The first half of 2025 also witnessed increased engagement between ABK and its customers, with the Bank organizing several exclusive events, including a private forum for Private Banking clients and ABK Capital, the Group's investment arm, to update them on the latest developments in the banking and investment sectors. During the first six months of 2025, the Bank signed multiple partnership agreements to provide exclusive offers for its customers, including renewing its partnership with Emirates Skywards and introducing discounts for ABK cardholders. These initiatives reinforce the Bank's reputation as the preferred banking partner for customers. Regional expansion In addition, ABK Group continued to expand its operations internationally by opening new branches in Egypt, launching additional products to grow its customer base in the UAE, and establishing a subsidiary of ABK Capital in the Dubai International Financial Centre. These steps will enhance the integration of the Group's operations. Community initiatives ABK also continued to sponsor numerous community events, reflecting its ongoing commitment to corporate social responsibility and active engagement with all segments of society. Sponsorships in 2025 included the final of His Highness the Crown Prince Football Cup, the Annual Diabetes Conference in collaboration with Amiri Hospital, the Porsche Club Kuwait annual festival, a Drug Awareness Conference, and several school visits aimed at enhancing financial literacy among students of all age groups. The Bank also participated in various career fairs and exhibitions across multiple sectors. Furthermore, the Bank maintained its support for the Central Bank of Kuwait and the Kuwait Banking Association's 'Let's Be Aware' campaign to promote financial literacy in Kuwait. ABK actively promoted the campaign through its social media platforms, digital screens across its branches, traditional media outlets, television, radio and cinema advertisements. The Bank also organized several padel tournaments and interactive events to raise awareness of the campaign's objectives, demonstrating its leadership role in supporting national community initiatives and leveraging its resources to achieve the desired impact. In conclusion, Al-Sumait emphasized that the coming period will see further development of the Group's operations, with the introduction of more innovative banking solutions and products, contributing to sustained profit growth in the future.
Arab Times
22-06-2025
- Politics
- Arab Times
Kuwait's EPA ready to act on environmental changes in region
KUWAIT CITY, June 22: The Environment Public Authority (EPA) reiterated on Sunday its commitment to closely monitor environmental developments and collaborate with relevant bodies to implement necessary precautionary measures amid the current regional situation. Acting Director General of the EPA, Nouf Behbehani, told Kuwait News Agency (KUNA) that an emergency meeting was convened to address the increasing challenges impacting various sectors, particularly the environmental sector, which demands heightened preparedness and coordinated action. Behbehani explained that the meeting focused on assessing the environmental impact across the Gulf Cooperation Council (GCC) countries in light of recent regional developments. The aim was to review national initiatives and enhance cooperation among member states to mitigate potential environmental risks. The meeting brought together experts from multiple state agencies, including the National Guard, the Ministry of Health, the Kuwait Institute for Scientific Research, the General Directorate of Civil Defense, the Regional Organization for the Protection of the Marine Environment, and the GCC Emergency Department. Behbehani emphasized that tackling these challenges requires a unified response based on effective information exchange and the establishment of joint mechanisms for environmental monitoring and swift action. She highlighted the urgent need for early coordination and clear strategic plans for Gulf-wide environmental response to ensure rapid intervention and minimize adverse effects on the region's natural ecosystems. 'Environmental security is a vital component of our comprehensive regional security,' Behbehani said. 'Achieving it depends on unified efforts, enhanced readiness of relevant authorities, and constructive cooperation to face current and future challenges.' The acting director general expressed hope that the meeting would mark a new chapter in strengthening Gulf cooperation on environmental matters, fostering stronger institutional partnerships, and safeguarding natural resources for future generations. She added that the meeting's objectives included formulating recommendations to advance joint environmental initiatives and boost Kuwait's preparedness for ongoing and upcoming environmental challenges. The session also reviewed member states' national measures and explored ways to improve coordination and collective action against potential environmental threats.
Kuwait Times
04-06-2025
- General
- Kuwait Times
Behbehani represents Kuwait at Asian artistic gymnastics tournament
KUWAIT: Kuwait's Abdullah Behbehani (second right) is seen off ahead of his departure to Jecheon, South Korea, to participate in the 2025 FIG Artistic Gymnastics 18th Junior Asian Championships. KUWAIT: The Kuwait artistic gymnastics team will participate in the 2025 FIG Artistic Gymnastics 18th Junior Asian Championships, which will be hosted in Jecheon, South Korea, on June 5-8, 2025. The 'Blue Gymnastics' team will be represented by promising star Abdullah Behbehani, who achieved promising results in the international tournaments in which he recently participated, including the West Asian Youth and Junior Championships hosted by the Jordanian capital Amman last May, as well as the Luxembourg International Open Artistic Gymnastics Championship held during the same month. The delegation of the 'Blue Gymnastics' left Tuesday for the Korean capital, Seoul, headed by team administrator Khaled Al-Madhen, and includes Ukrainian coach Vitaly Arsenyev and international referee Salah Askar, in addition to the player Behbehani. The Kuwait Gymnastics Federation expressed its wishes of success for the player in this new challenge, stressing that the competition in this tournament is very different from all previous tournaments in terms of the strength of competition, but expressed confidence in Abdullah and his keenness to represent "Kuwaiti gymnastics" at the best way possible. The Federation stated that the Asian Championship represents a suitable opportunity for Behbehani to rub shoulders with the stars of the continent, test his abilities and develop himself, as participation in this entitlement comes within the long preparation plan to participate in the Youth Olympic Games 'Senegal 2026'.
Arab Times
03-06-2025
- General
- Arab Times
Behbehani leads Kuwait's challenge at Asian Junior Gymnastics Championships
SEOUL, June 3: The Kuwaiti artistic gymnastics team is participating in the 18th Asian Junior Championships, taking place in South Korea from June 5 to 8. Representing the team is rising talent Abdullah Behbehani, who continues to make strides on the international stage. Behbehani recently delivered strong performances at the West Asian Youth and Junior Championships in Amman, Jordan, and the Luxembourg International Open Artistic Gymnastics Championships—both held last May. The Kuwaiti delegation departed for Seoul, led by team manager Khaled Al-Mazen. The traveling party also includes Ukrainian coach Vitaly Arsenyev, international referee Salah Askar, and athlete Abdullah Behbehani. The Kuwait Gymnastics Federation extended its best wishes to Behbehani ahead of the tournament, noting the elevated level of competition at the Asian Championship compared to previous events. The federation, however, expressed full confidence in Behbehani's dedication and potential to represent Kuwaiti gymnastics with pride. 'This championship offers a valuable opportunity for Abdullah to engage with some of Asia's top gymnasts, test his skills under pressure, and continue his development,' the federation stated. The participation in this continental championship is part of a broader, long-term strategy to prepare Behbehani for future international milestones, including the 2026 Youth Olympic Games in Senegal.
Kuwait Times
22-05-2025
- General
- Kuwait Times
Biodiversity protection a shared responsibility for sustainability: EPA
KUWAIT: The Environment Public Authority (EPA) reaffirmed Thursday that the protection of biodiversity is a collective responsibility and a moral and humanitarian obligation, requiring unified national and global efforts to secure a prosperous present and a sustainable future for generations to come. Acting Director General of the EPA Nouf Behbehani made the remarks during a ceremony marking the International Day for Biological Diversity (IBD), organized by the Public Authority for Applied Education and Training (PAAET), Kuwait Oil Tanker Company (KOTC), and the National Committee of the International Union for Conservation of Nature (IUCN). In her address, Behbehani noted that IBD, observed annually on May 22, commemorates the adoption of the Convention on Biological Diversity during the landmark 1992 Earth Summit in Rio de Janeiro. The summit, she said, marked a pivotal moment in global environmental governance with the adoption of three major conventions: the Convention on Biological Diversity, the United Nations Framework Convention on Climate Change (UNFCCC), and the United Nations Convention to Combat Desertification (UNCCD), forming the foundation of international environmental sustainability efforts. Behbehani highlighted that this year's celebration is held under the theme 'Be Part of the Plan,' which calls for harmonizing development with nature and underscores the urgent need to redefine humanity's relationship with the environment. She emphasized that safeguarding biodiversity is vital to ensuring food and water security, climate stability, and public health. She outlined four key pillars of the national biodiversity campaign: raising public awareness on the importance of biodiversity; updating national strategies in alignment with international frameworks; strengthening cross-sectoral collaboration to fulfill obligations under global environmental treaties; and encouraging development initiatives that prioritize environmental protection and long-term sustainability. Representing KOTC's Acting CEO Sheikh Khaled Ahmed Al-Malik Al-Sabah, Acting Director of the Health, Safety and Environment Group Mohammed Mirza reiterated the company's longstanding commitment to environmental stewardship. He affirmed KOTC's active role in promoting sustainable practices and supporting national initiatives aligned with Kuwait's environmental vision. Mirza highlighted the company's achievements, including the full operation of its LPG filling branches in Shuaiba and Umm Al-Aish using solar energy. He also pointed to the environmental compliance of the company's fleet, which adheres to international maritime regulations such as ballast water treatment systems and emission reduction measures. KOTC, he added, remains engaged in various environmental initiatives, including coastal cleanups, awareness campaigns, tree planting, recycling, and climate change mitigation. Meanwhile, Dr Wijdan Al-Oqab, Chairperson of the IUCN National Committee and President of the Kuwait Environment Protection Society (KEPS), emphasized Kuwait's international commitment to biodiversity through its ratification of the Convention on Biological Diversity and the submission of national reports. She called for a serious re-evaluation of the current environmental situation in the country and advocated for a shift from an exploitative relationship with nature to a balanced and cooperative approach. Dr Al-Oqab lauded the EPA's executive role in implementing environmental legislation and monitoring adherence to global agreements, in addition to the contributions of the Kuwait Institute for Scientific Research and civil society organizations in advancing environmental awareness. She further praised KEPS' pioneering efforts in public education, including the production of Arab-recognized environmental documentaries such as 'Every Day a Bird' and 'Every Day a Plant,' which have documented Kuwait's wildlife and now serve as valuable scientific and educational resources across the Arab world and within Kuwaiti schools. The event underscored a unified call for action to protect biodiversity as a cornerstone of sustainable development and environmental resilience. — KUNA
