Latest news with #Boubyan
Zawya
21-04-2025
- Business
- Zawya
Boubyan Bank records KD 26.5mln in net profits for Q1 2025
Profit Before Tax Grew by 22% to KD 31.4 Million Adel Al-Majed: Boubyan Maintains Its Solid Financial Position & Profit Growth, and Expands Retail, Corporate, and Wealth Management Services Fifteen Consecutive Years of Excellence and Exceptional Quality Customer Service atop the Islamic Financial Sector in Kuwait Empowering Entrepreneurs via Well-Studied Strategies and Partnerships That Develop Business Environments and Boost Innovation Boubyan Bank has announced its financial results for Q1 of this year. The bank recorded KD 26.5 million in net profits at a growth rate of 6% compared with the same period of the past year, with Profit Before Tax 'PBT' amounting to KD 31.4 million at a growth rate of 22%, while the earnings per share amount to 5.31 Fils. Mr. Adel Al-Majed, Boubyan Bank's Vice-Chairman & Group Chief Executive Officer, commented: 'Boubyan has succeeded and excelled in achieving its strategic goals, thus maintaining its solid financial position, strong profitability and operational performance, while expanding its banking and wealth-management services.' He pointed out: 'Boubyan Bank's financial indicators during Q1, 2025 demonstrated positive results and significant growth, where the bank's assets grew to KD 9.7 billion at a growth rate of 12% compared with last year, while the bank's financing portfolio grew by 12% to reach KD 7.3 billion, whereas the bank's market share of local financing increased to 12.14%.' 'The bank continues with the implementation of its 5-year strategy 'Boubyan 2028', which focuses on pursuing sustainable profitability and maintaining the adoption of digital transformation standards, innovation, and resilience as a key driver to improve operational efficiency. This aims to instill the values of the strategy across the Group and to ensure the growth of all concerned parties, including employees, customers, shareholders, and the community as a whole.', he added. ** Leaders of Quality Service for 15 Years in a Row Al-Majed emphasized: 'Boubyan's management is constantly seeking to improve the quality of services and products to boost and enrich a banking experience based on quality, quick service, and attention to details. The bank sets its eyes on customer experience as a key pillar of its day-to-day operations to ensure catering for customers' needs and exceeding their expectations.' Boubyan Bank has recently received the 'Best Islamic Bank in Customer Service' award for the year 2024, in addition to being honored with a special recognition for being named the 'Best Islamic Bank in Customer Service in Kuwait' for the 15th year in a row by Service Hero, the consumer-driven customer satisfaction index. This adds to the bank' growing leadership in excellence and overall banking experience, reflecting the bank's commitment to offering banking services that align with international standards. In this context, Al-Majed pointed out: 'Boubyan is the only bank to have maintained this status for a decade-and-a-half long period, reflecting our constant and ongoing excellence. This gives credit to Boubyan's customer services which is not limited to mere daily interactions; rather, it is a complete experience that we are keen to improve constantly in line with the bank's culture, which believes that being customer-centric is the key pillar for offering the best.' ** Reinforcing Leadership and Improving Digital Financial Services Boubyan Bank continues to reinforce its leadership in digital transformation based on a clear strategy that aims to redefine the concept of cutting-edge banking services. This direction has led to the constant growth and improvement of Boubyan App, which has become a complete digital banking platform that combines innovation and usability, while providing customers with a convenient and secure banking experience that caters for their daily needs, thus reinforcing the status of the bank as a leading institution in providing digital financial services locally and regionally. Coinciding with the beginning of 2025, the launch of the Pro Salary Account was announced for new salaried customers employed by the public and private sectors, who are seeking to open a new salary account and to transfer their salaries to the bank. This emphasizes Boubyan's commitment to providing new, most innovative, and cutting-edge offerings, thereby strengthening its efforts towards enhancing an already exceptional banking experience that transcends the conventional meaning of banking as we know it in the banking services and products scene, thus reinforcing its leading status as an Islamic financial institution in the banking industry. To continue rewarding its customers and improving its banking offerings to make them more unique and exceptional, Boubyan has launched the Boubyan Xperience campaign to give Visa credit and prepaid cardholders exceptional and unforgettable travel experiences. Moreover, Nomo Bank has recently announced a new exceptional package of property finance solutions for residential or investment properties in the UK real estate market at competitive rates that cater for the needs of its GCC customers. What distinguishes these solutions the most is that they are fully digital and Sharia-compliant, in addition to combining good financial performance with well-studied diversification opportunities in a trusted investment environment. The new rates from Nomo offer a great opportunity for purchasing or refinancing properties, with flexibility in selecting from finance solutions that suit various GCC customers' needs, whether for residential or investment purposes. ** Community Initiatives and Empowering Entrepreneurs During Q1 of this year, Boubyan continued its community contributions and influential initiatives that support businesses and help them achieve sustained growth. This reinforced the bank's leadership as the 'World's Best Islamic Bank for CSR'. During the Holy Month of Ramadan, Boubyan completed a program full of activities where each initiative stood out as a success story that enabled the bank to reach record numbers of engagements and interactions, which reflected the deep impact of those efforts. This year's initiatives included humanitarian activities, in addition to cultural and religious awareness activities in order to create an outstanding Ramadan experience that embodies the meanings of solidarity and showing mercy to one another, which all influenced the society. In a step towards supporting the business environment in Kuwait and to boost the growth of SMEs, Boubyan Business Connect was organized to bring entrepreneurs among its customers under the same roof with a number of elite strategic partners in the field of financial & legal advisory, Fin-Tech, payment solutions, and others to help them build a strong network and create an integrated environment allowing for the exchange of expertise, exploring collaboration opportunities, and pushing innovation in the entrepreneurship's scene. This initiative highlighted Boubyan Bank's keenness on offering support to startups' owners, while providing them with an integrated environment that supports the growth of their businesses, and opening new horizons for them for growth and expansion in the Kuwaiti market. Accordingly, it was more than a mere networking event; rather, it was a dynamic and engaging platform for increasing communication between entrepreneurs and experts. ** Enriching Human Resources In line with its strategy that aims at investing in human capital, Boubyan continued strengthening its efforts to support and develop national cadres by ensuring the bank has an incentivizing work environment that fosters professional empowerment and ongoing growth. The bank has been keen on implementing specialized training programs and professional workshops that aim at increasing the efficiency of staff and increasing their skillsets to keep up with the developments in the banking industry and meet the expectations of customers. Boubyan Bank believes that its human cadres are the key pillar for achieving sustained growth and reinforcing the status of the bank as a leading financial institution in the local and regional markets. Highlights 1st Highlight Why is Boubyan the best in customer service? Boubyan's recognition by Service Hero was based on a group of criteria including a survey that extended over one year among consumers, who evaluated companies on a scale of 10 against their service-level expectations, their experience, and satisfaction following the customer-service experience. The evaluation relied on many elements such as staff's attitude, location of the bank, speed of service, confidence in the product, quality of service or product, value for money, the contact center, and the website of the bank. Service Hero's survey implements a strict protocol to confirm the identity of consumers who take part in the survey. 2nd Highlight Boubyan Bank's Contributions in Numbers throughout the Holy Month of Ramadan More than 12,000 participants walked 180 million steps as part of Boubyan Steps Campaign. More than 1,200 participants in the 11th 'Recite with Boubyan' Competition, and recognizing 30 winners who memorized the Glorious Qur'an by heart. Distribution of more than 26,000 Iftar meals to the visitors of the Grand Mosque and various areas of Kuwait. Distribution of more than 1,500 food baskets to needy families as part of 'Neamaty' Initiative. Participation of more than 250 customers and employees in 'Boubyan Team of Volunteers'. Offering hospitality to more than 50 mosques across various governorates of Kuwait. 50 customers benefitted from car-parking services at the parking lot of the bank's headquarters during Qiyam Prayers 'Night Prayers' at the Grand Mosque. More than 900,000 participants in the 'One Minute Challenge' throughout the Holy Month, with more than 600,000 correct answers. More than 100 female Premium customers attended Boubyan's Ghabga. 6,000 ladies and girls participated in Ramadan Diwaniya. Attendance of more than 2,000 participants in 'Boubyan Gergean' at Shuwaikh Park.
Zawya
16-03-2025
- Business
- Zawya
Boubyan Bank's General Assembly approves the distribution of 10 Fils in cash dividends and 5% in bonus shares
Dr. Amani Boresli and Mr. Rabah AlRabah Elected as New Independent Directors Abdulaziz Al-Shaya: Boubyan Reinforces Its Position as a Leading Islamic Bank Worldwide with an Ambitious Vision Achieving Sustainability Requires a Well-Studied Strategy and Solid Foundations for Growth and Improvement Adel Al-Majed: Digital Transformation and Sustainability Are the Cornerstone of Boubyan's Promising Future Steadily Moving with Our Strategic Approach to Maintain Solid Profitability and Ongoing Growth, and to Reinforce Investment in Innovation Boubyan Bank held its Ordinary General Assembly Meeting which saw an attendance exceeding 78%, where its agenda was approved, including the distribution of cash dividends and bonus shares, in addition to the election of non-independent and independent directors for the upcoming term of the Board of Directors. In his word during the meeting, the Chairman of Boubyan Bank, Mr. Abdulaziz Abdullah Dakheel Al-Shaya, emphasized that the Bank continued fulfilling its goals and reinforcing its position as a leading financial institution in the Islamic banking industry, acting as per 'Boubyan 2028' strategy, which focuses on pursuing sustainable profitability while reinforcing digitalization, innovation, and resilience, being the key drivers of operational efficiency. This aims to instill the values of the strategy across the Group and to ensure growth across all fronts, including employees, customers, shareholders, and the community as a whole, in addition to boosting digital innovation and increasing the bank's market share. Al-Shaya added: 'Boubyan does not only seek financial growth, but also seeks real influence on the local and regional economy to make a leap through investing in advanced Fin-Tech solutions, thus catering for customers' expectations and keeping up with the ever-changing market requirements, in addition to reinforcing the potentials of working and cooperating with influencers in the financial sector and Islamic banking and development of human cadres and investment in human capital to attract the best talents, which contributes to the realization of the ambitious vision of the bank to be among the top Islamic banks worldwide.' 'We believe that a crystal-clear strategic vision is necessary for sustainable success, supported by solid bases for growth and development, in addition to working to reinforce the confidence of shareholders, activating strategic partnerships, and emphasizing sustainability principles and social responsibility for a more flourishing future for the bank, its customers, and strategic partners.', he added. ** Solid Financial Performance and Sustained Growth Al-Shaya went on to add: 'The bank had outstanding financial results in 2024 as it recorded KD 96.8 million in net profits, at a growth rate of 20%, compared with 2023, while the earnings per share amount to 21.6 Fils.' Moreover, the General Assembly Meeting approved the distribution of 10 fils per share in cash dividends, in addition to 5% in bonus shares, reflecting the bank's solid financial performance. He added: 'Boubyan Bank maintained a balanced growth across its various financial indicators, where the bank's total assets grew to KD 9.4 billion at a growth rate of 12% compared with last year, while the bank's financing portfolio grew by 10% to KD 6.9 billion, and operating income grew by 13% to KD 246 million; meanwhile, the bank's market share of local financing increased to 12%, reflecting the success of the bank's expansion strategy.' ** International Leadership in the Islamic Banking Industry 'The bank is now the third largest bank domestically, and it has been included in Forbes' annual list for Middle East Top 100 Listed Companies 2024 with USD 27.3 billion in total assets and a market value of USD 8.3 billion, and is also ranked 49th on a similar list by MEED.', Al-Shaya elaborated. He pointed out that the policies aiming at increasing the bank's business base and setting future directions largely contributed to reinforcing sustained growth, boosting digital innovation, and adoption of a cutting-edge and integrated banking model combining both traditional solutions and modern digital banking solutions, which contributed to operational growth and reinforced the bank's position as a leading international Islamic banking institution. ** Election of Independent Directors The General Assembly held the elections for the membership of the Board of Directors to elect non-independent directors. The following have been elected as members of the Board of Directors for the upcoming 3-year term (2025-2026-2027): Mr. Abdulaziz Abdullah Dakheel Al-Shaya - Non-Executive Mr. Adel Abdul Wahab Jassim Al-Majed - Executive Mr. Hazim Ali Meshari Al-Hilal Al-Mutairi - Non-Executive Mr. Waleed Mishari Al-Hamad - Non-Executive Mr. Mohammed Yousef Ahmed Al-Saqer - Non-Executive Mr. Fahad Ahmad Al-Fouzan - Non-Executive Mr. Waleed Khaled Al-Yaqout - Non-Executive Moreover, new independent directors have been selected out of seven independent candidates. The following four independent candidates have been selected as members of the Bank's Board of Directors for the upcoming 3-year term (2025-2026-2027): Mr. Khalid Ahmad Saud AlMudhaf Mr. Abdullah Saud Bader Al-Yousif Al-Bader Dr. Amani Khaled Boresli Mr. Rabah Adulrahman AlRabah ** Reinforcing Digital Transformation & Innovation Boubyan Bank's Vice-Chairman & Group Chief Executive Officer, Mr. Adel Al-Majed, highlighted that the bank was moving steadily towards a more advanced and a more innovative banking future, thanks to the adoption of cutting-edge digital transformation technology and investment in technology infrastructure, which enabled the bank to improve the quality of its banking services and boost the efficiency of operational processes. Al-Majed added: 'The future of banking relies on digital innovation, and Boubyan has always been at the forefront of all banks that embraced this vision. Over the past years, we managed to make great leaps in our digital services, thus boosting our ability to meet the expectations of our customers and keep up with the accelerating transformations in the international banking industry.' 'During 2024, Nomo Bank, the digital arm of the Bank of London and the Middle East 'BLME', a subsidiary of Boubyan Bank Group, continued its expansion journey, while focusing on meeting the international banking and investment needs of customers. Nomo succeeded in attracting a wide segment of customers seeking integrated digital banking solutions internationally, and the bank continues to invest in innovation and sustainability by introducing state-of-the-art digital solutions that enhance customer experience, increase the efficiency of operations, and increase security and reliability levels of banking services.', he elaborated. ** Subsidiaries' Expansion Strategy Al-Majed pointed out: 'Boubyan's subsidiaries (Boubyan Capital, Boubyan Takaful, and The Bank of London and the Middle East 'BLME') managed to reinforce their presence and develop their strategic plans that focused on increased investments and profitability growth, which contributed to integrating the efforts of Boubyan Group and reinforcing its expansion into various markets.' Sustainability and Governance .... Ongoing Commitment Al-Majed emphasized that Boubyan Bank attached great importance to ESG standards and to the development of business strategies, aiming to strike a sustained balance between financial performance and social responsibility, in addition to achieving a sustained financial growth in line with the best international standards. ** Thanks & Appreciation Al-Shaya concluded his word in the General Assembly Meeting: 'For myself and on behalf of all the employees of Boubyan Bank, I would like to express deepest thanks and appreciation to His Highness, the Amir of Kuwait, Sheikh Meshal Al-Ahmad Al-Jaber Al-Sabah, may Allah protect him as well as to H.H. Sheikh Sabah Khalid Al-Hamad Al-Sabah, the Crown Prince, may Allah protect him, and H.H. Sheikh Ahmad Abdullah Al-Ahmad Al-Sabah, the Prime Minister, may Allah protect him, for their efforts towards the development and growth of our beloved country, and to guarantee the stability and security of everyone who considers this blessed land home, as well as their ongoing support to the banking sector.' He added: 'I would also like to express the deepest thanks to all the executives of the Central Bank of Kuwait, headed by H.E., the Governor, Mr. Basel Al-Haroon, who spared no effort to take the actions deemed appropriate to develop and safeguard the Kuwaiti banking system. I would also like to express deepest thanks to all the bank's esteemed shareholders and customers for their ongoing confidence, as they have always been the key factor behind our success by supporting us in overcoming our challenges. Moreover, I would like to thank all members of the Sharia Supervisory Board at the bank for their great efforts, and I would like to thank the members of the Board of Directors and the Executive Management, as well as all the bank's employees for their cooperation, commitment, and keenness on supporting the bank for the best interest of the bank and its shareholders.' Highlights 1st Highlight Entrepreneurs and owners of SMEs represent a very important segment of Boubyan Bank's customers, being the first bank of choice for the youths. Boubyan has a unique set of digital banking solutions that support and empower entrepreneurs to achieve their future financial goals, while opening up new growth opportunities and horizons to develop their entrepreneurship, enhance their operational efficiency, and expand the scope of their services to meet the requirements of the job market in Kuwait and the region, in addition to considering them key partners in all innovative solutions and products offered by Boubyan. 2nd Highlight Boubyan Bank innovated a unique model to promote the value of developing leadership skills and forging leaders with exceptionally unique competencies that perfectly aligns with the strategy of developing leaders and promoting the creativity and innovation culture among employees, which comes in handy especially with the young expertise and competent cadres available at Boubyan across various levels. The bank further dedicates all necessary resources to the learning, growth, and development of its human cadres. On another note, the score of the Organizational Health Index survey 'OHI' taken by all Group employees improved to 86%, while the total staff participation across the bank and its subsidiaries increased to 89%, placing the bank among the top 3 institutions regionally, and at the top decile of all prestigious institutions that took part in this survey globally.
Zawya
28-01-2025
- Business
- Zawya
Boubyan's net profits increase to KD 96.8mln in 2024
Recommends 10 Fils in Cash Dividends and 5% in Bonus Shares Abdulaziz Al-Shaya: Performance and Metrics Showcase the Bank's Robustness and Our Potential to Maintain Our Banking Leadership We Are Committed to Reinforcing Solutions and Investments That Reflect Our Ability to Confirm Our Status in the Kuwaiti Banking Sector Adel Al-Majed: Another Year of Milestones Coincides with Our 20th Anniversary Our Balanced Growth Strategy Based on Enhanced Banking Activities Has Been a Success, and We Keep Pace with International Developments in the Banking Industry Scaling Up Our Business in Line with Our Strategy to Ensure Continued Success Boubyan Bank has announced KD 96.8 million in net profits for FY 2024, at a Growth Rate of 20%, compared with 2023, while the earnings per share amount to 21.6 Fils, and the Board of Directors recommended to distribute 10 Fils in cash dividends and 5% in bonus shares. Key financial indicators of 2024 show that the bank's assets grew to KD 9.4 billion at a growth rate of 12% compared with last year, while the bank's financing portfolio grew by 10% to KD 6.9 billion, and operating income grew by 13% to KD 246 million, meanwhile, the bank's market share of local financing increased to 12%. Boubyan Bank's Chairman, Mr. Abdulaziz Abdullah Dakheel Al-Shaya, commented: 'We are proud of the bank's financial results until the end of FY 2024, which recorded significant growth across most of our financial indicators. These results were the fruit of strategic diversification of the bank's products, services, and investments, which reflect our status in the Kuwaiti Banking Sector. This led to the enhancement of our operational performance, thus leading to a good growth in profitability, despite the conditions and contingent developments in the operational environment.' 'After the completion of our past 5-year strategy 'Boubyan 2023', the bank started a new chapter with its new 5-year strategy, titled 'Boubyan 2028', which focuses on pursuing sustainable profitability and continuing the adoption of digital transformation standards, innovation, and resilience as a key driver to improve operational efficiency. This aims to instill the values of the strategy across the Group and to ensure the growth of all concerned parties, including employees, customers, shareholders, and the community as a whole.', he added. Mr. Al-Shaya thanked the shareholders, investors, and all Boubyan's customers for their confidence, and reiterated the Board's full and ongoing support to the efforts of the bank's highly-professional executive management, which contributed to the achievement of the best results, while thanking all the bank's employees for their continued dedication to work. ** 20 Years of Growth and Sustained Profitability On his part, Boubyan Bank's Vice-Chairman & Group Chief Executive Officer, Mr. Adel Abdul Wahab Al-Majed, stated: 'Boubyan Bank's financial results in 2024 are the most outstanding ones in the bank's history, being the highest historically. Moreover, this coincides with our celebration of the bank's 20th Anniversary. This solid financial performance is attributed to the unwavering commitment to the development of the most diversified and resilient business model to reinforce our leadership, in addition to our investment in cutting-edge FinTech and the launch of innovative solutions, which reiterates our complete readiness for any future challenges on the long-run.' 'Since its inception, Boubyan Bank has succeeded in reinforcing its franchise and brand as one of the leading banks in the Islamic banking industry, owing to its adoption of balanced growth strategies based on enhanced banking activities. The bank has further managed to stamp its vision to become the leading Islamic bank with high creditworthiness, credibility, and reliability. This was clearly reflected through the bank's financial statements, sustained profitability, and prudent management of risks, business and operational activities, leading to the success of Boubyan's Strategy aiming ' towards perfection ', and leading to increased profitability, market share, and international presence, coupled with outstanding performance, and products and services that attract customers, particularly our digital offerings.', he added. Al-Majed went on to add: 'Boubyan follows a well-studied strategic approach to ensure continued success and excellence, while aiming to expand the scope of its services and branches in a balanced way in a manner that ensures sustained growth and meeting the increasing needs of customers, all while maintaining the quality of its services and improving core banking activities. The bank is keen on exploring promising investment opportunities, diversifying funding sources, and boosting the Group's funding potentials, which positively reflects on increasing the confidence of customers and investors, in addition to maintaining the level of customers' trust at its best.' ** Shaping the Digital Future Boubyan Bank's digital transformation strategy gained a significant momentum, being a real and living example for succeeding in being highly competitive regionally and internationally in digital banking services, and in encouraging innovation and sustainable digital growth towards accelerating transformation and making financial transactions more convenient, thus enabling Boubyan to be in the forefront of the digital banking scene and to be the favorite bank for the youths' segment. It can be safely said that owing to the proactive vision and well-studied plans, which focused on tech-innovation and investment in technology and AI, the bank managed to lead fundamental technological and digital developments in advanced digital transformation across its banking business to upgrade the digital infrastructure of its digital services and reinforce the infrastructure of its digital solutions' portfolio to be in the forefront of institutions that support investing in digital services atop the Kuwaiti banking sector's institutions. ** Significant Growth in Corporate Banking The Corporate Banking Group witnessed a significant growth in 2024, as it offered a wide set of Sharia-compliant financing products that cater for the needs of corporate customers. Over the past year, the Corporate Banking Group succeeded in making significant milestones due to the ongoing diversification and improvement of products and services, coupled with its continued offering of innovative and more flexible banking services to keep pace with the accelerated development in financing transactions to meet the banking needs of corporate customers. ** Prestigious Awards across Various Business Areas During 2024, Boubyan Bank demonstrated its excellence and leadership as it received many domestic, regional, and international awards, in addition to prestigious rankings and ratings that crowned the bank's efforts across various business areas, thus continuing the journey of successes, awards, and international recognitions from prestigious international institutions, which reinforce the bank's leadership, internationally, locally, and regionally. Speaking of digital leadership, the bank's successes crowned it with 6 prestigious awards from Global Finance, the internationally renowned publication. The icing on the cake was the award for the 'World's Best Islamic Digital Bank' for a full decade atop major Islamic financial institutions, coupled with receiving a similar award in the same domain atop the Middle East and Kuwait, in addition to the award for the 'Best Corporate/Institutional Digital Bank in Kuwait'. Additionally, the bank's Business Banking Department serving SMEs, received two awards for the 'Best SME Banking/SME Platform in Kuwait' and the 'World's Best SME Payments Innovation'. Moreover, the bank received two awards, namely the 'Most Innovative Bank' and the 'Best Digital Banking Initiative' by MEED, the internationally renowned publication. This came as a part of its MENA Banking Excellence Awards 2024. ** Sustainable Community Initiatives and Empowering Entrepreneurs Over the past 20 years, Boubyan Bank's CSR initiatives have been unprecedentedly successful. The bank retained the special award for the 'World's Best Islamic Bank for CSR' for the second year in a row from Global Finance, the internationally renowned publication. This confirms that Boubyan's CSR strategy is on the right track towards achieving its goals, and that it aligns well with various segments of the society through its activities and day-to-day work, coupled with the bank's commitment to ESG standards. The bank's community initiatives and efforts over the past year focused on many aspects such as the youths, sports, and wellness, in addition to Boubyan Bank's program for the Holy Month of Ramadan and how it embodies the meanings of social cohesion. Entrepreneurs and owners of SMEs represent a very important segment of Boubyan Bank's customers, being the first bank of choice for the youths. Boubyan has a unique set of digital banking solutions that support and empower entrepreneurs to achieve their future financial goals, while opening up new growth opportunities and horizons to develop their entrepreneurship, enhance their operational efficiency, and expand the scope of their services to meet the requirements of the job market in Kuwait and the region, in addition to considering them major partners in all innovative solutions and products offered by Boubyan. ** Strategic Partnerships and Marketing Campaigns Boubyan continued reinforcing its strategic partnerships which largely contributed to bringing exceptional experiences, promotions, exclusive benefits and value-adding solutions, and unique services to the lifestyle of our customers, thus enhancing their satisfaction levels. Such partnerships included the one with Acico Group and Enabill, the leader in the business of restaurants' digitalization, and continuing our strategic partnership with Holistic, the leading advisory company, which offers its services to entrepreneurs and business owners, in addition to our partnership with Snowdrop, a leader in enriching the data of financial transfers and payments. To confirm that it is the closest to customers, Boubyan launched many marketing campaigns where customers were rewarded with exceptional instant prizes beyond their expectations. Additionally, the bank gave customers the best exclusive benefits as in the credit cards' summer campaign, "Every Tap Gets You Closer to Your Dream" Campaign, the Honeymoon campaign with Dazzah card for intending spouses among the bank's customers, and PRIME campaign for the youths' account. ** Enriching Human Resources Boubyan Bank innovated a unique model to promote the value of developing leadership skills and forging leaders with exceptionally unique competencies that perfectly aligns with the strategy of developing leaders and promoting the creativity and innovation culture among employees, which comes in handy especially with the young expertise and competent cadres available at Boubyan across various levels. The bank further dedicates all necessary resources to the learning, growth, and development of its human cadres. On another note, the score of the Organizational Health Index survey 'OHI' taken by all Group employees improved to 86%, while the total staff participation across the bank and its subsidiaries increased to 89%, placing the bank among the top 3 institutions regionally, and at the top decile of all prestigious institutions that took part in this survey globally. Highlights 1st Highlight Boubyan managed to maintain its status as a banking institution that is keen on attracting the best national cadres and striving to improve its business environment, evident by receiving the award for 'Excellence in Manpower Nationalization', awarded to the bank for the sixth time by the GCC Council of Ministers of Labor & Social Affairs, for its success and excellence in increasing the percentage of national manpower across the Kuwaiti banking sector in 2024, where the bank achieved 82% at the level of empowering and recruiting national manpower. 2nd Highlight During 2024, Nomo Bank, the digital arm of the Bank of London and the Middle East 'BLME', a subsidiary of Boubyan Bank Group, continued its expansion journey, while focusing on meeting the international banking and investment needs of customers, with a commitment to offer unique promotions and exclusive banking experience to them, in addition to offering them unique international investment opportunities. All such offerings are Sharia-compliant and they enable customers to grow and manage their savings and wealth internationally in a convenient manner with a bigger value across all business aspects. 3rd Highlight Boubyan Bank continues focusing on customer service and on building sustainable trust, which led to its continued recognition with the 'Best Islamic Bank in Customer Service' award for the 14th year in a row by Service Hero, the consumer-driven customer satisfaction index. The bank reinforced this leadership atop all Islamic and conventional local banks by achieving a Customer Satisfaction Index (CSI) score of 96%. Boubyan Bank's Key Financial Indicators In KD Million Growth In 2023 In 2024 Indicator 20% 80.4 96.8 Net profits 13% 218 246 Operating income 10% 6,321 6,924 Financing portfolio 12% 8,405 9,377 Assets 15% 6,479 7,424 Customers' deposits
