Latest news with #HamadAbdulmohsenAl-Marzouq
Kuwait Times
29-07-2025
- Business
- Kuwait Times
KFH reports KD 342.1m in net profit for bank's shareholders for H1 2025
Net operating income grew 7.9% * Net financing income grew 8.7% * Total assets increased to KD 38.5bn KUWAIT: Chairman of Kuwait Finance House (KFH) Hamad Abdulmohsen Al-Marzouq announced that KFH achieved a net profit of KD 342.1 million for the first half of 2025 for the bank's shareholders. Earnings per share for the first half of 2025 reached 19.23 fils. Net financing income for the first half of the year reached KD 607.3 million; an increase of 8.7 percent compared to the same period last year. Total operating income for the first half of 2025 increased, supported by the increase in all core activities to reach KD 876 million; an increase of 6.4 percent compared to the same period last year. This growth is particularly notable given that the comparative income for 2024 included profits of KD 70.1 million from the sale of KFH-Bahrain during Q2 2024. Net operating income for the first half of the year reached KD 566.7 million; an increase of 7.9 percent compared to the same period last year. The cost-to-income ratio for H1-25 improved to 35.3 percent compared to 36.2 percent for the same period last year. Financing receivables at the end of the first half of 2025 reached KD 20.4 billion, an increase of 7.1 percent compared to the end of last year. Total assets at the end of the first half of 2025 amounted to KD 38.5 billion, an increase of 4.9 percent compared to the end of last year. Shareholders' equity for the same period amounted to about KD 5.6 billion, an increase of 0.8 percent compared to the end of last year. Depositors' accounts for the first half of 2025 amounted to KD 19.7 billion, an increase of 2.7 percent compared to the end of last year. In addition, the capital adequacy ratio reached 18.01 percent which is above the limit required by regulators. This ratio confirms the solid capital base of KFH. The Board of Directors has agreed to distribute a semi-annual cash dividend of 10 fils per share. Outstanding performance In a press release, Al-Marzouq said that KFH continues to lead the banking sector and the Kuwaiti market in profitability. This remarkable achievement comes despite the challenging operating environment and geopolitical shifts in the region, which have brought uncertainty to the economic landscape. He emphasized that KFH's success stems from precisely implemented plans that ensure sustainable profits and maintain KFH's solid financial position and robust performance. Al-Marzouq also highlighted the strength of KFH's financial statements for the first half of this year, which showcase a strong capital base, good liquidity ratios, and exceptional operational performance. These factors have collectively driven sustainable growth across all key financial indicators. Operational efficiency Al-Marzouq emphasized that KFH continues to boost its operational efficiency, increase revenues, and optimally use its capabilities in line with global standards. This approach will improve asset quality, enhance risk management, and help the bank rationalize expenses, especially as it navigates the current global financial landscape and the competitive financial services industry. Coordination and integration He added that KFH is working to achieve great ambitions by maximizing the effectiveness of the Group's banks and fostering seamless coordination and integration among. This approach guarantees increased revenues and improved performance, while also leveraging the unique potential and advantages of each market. New chapter Al-Mazrouq said that KFH successfully launched the new visual identity for Ahli United Bank - Bahrain, rebranding it as Kuwait Finance House – Bahrain. This move complements a series of achievements realized under the new brand slogan, 'Beyond Horizons'. He explained that this series began in Kuwait, subsequently extending to the United Kingdom and the Arab Republic of Egypt. 'This initiative is part of KFH's strategy for expansion and global leadership as an Islamic banking group.' He emphasized that the new brand launch reflects a shift in vision and concept, marking the beginning of a new chapter of integration and excellence in banking services. Financing and development Al-Marzouq highlighted KFH's continued dedication and ability to fund large-scale projects in all sectors, including production, service, commercial and development. By offering a diverse range of financing services and solutions, KFH actively supports the government's comprehensive development plans. He highlighted the bank's strengths, which position it as one of the most trusted and preferred institutions for corporate financing. KFH also enjoys a substantial market share in financing small and medium-sized enterprises (SMEs) within Kuwait's banking sector. Furthermore, the bank is keen to fund numerous large-scale projects, utilizing flexible and efficient Sharia-compliant financing structures. This has established KFH as the preferred partner and lead arranger for many major joint financing deals. Training and promotion Al-Marzouq said that KFH is steadfast in its commitment to nurturing national talent and developing future leaders. Through ongoing training and development programs, partnered with local institutions, universities, and international centers, the bank aims for peak operational efficiency and productivity. This dedication recently saw several national employees advance to senior leadership roles across various departments. CSR & sustainability Al-Marzouq noted that KFH's social impact grew significantly last year, thanks to its involvement in many key strategic social initiatives. These efforts highlight the crucial role KFH plays in society, alongside its leading position in the economic, developmental and banking sectors. He highlighted how KFH has created a pioneering and role model for embedding sustainability principles across its entire group. 'KFH has seen remarkable success in green financing and implementing a comprehensive sustainability strategy that's central to its mission and vision. The bank is further strengthening its commitment by adopting integrated, comprehensive, and balanced practices in the key areas of sustainability: environmental, social and governance (ESG).' Al-Marzouq explained that KFH was the first entity to start publishing impact measurement reports, and it annually releases both a Sustainability Report and a Carbon Footprint Report. KFH has been awarded an 'A' rating by MSCI. Additionally, KFH has been included in the FTSE4Good Index Series for its exemplary performance in environmental, social and governance (ESG) practices. Khaled Yousef Al-Shamlan KFH Group CEO Sound financial indicators Meanwhile, KFH Group CEO Khaled Yousef Al-Shamlan said that the bank's H1 2025 profits confirms its robust operational performance and leading position in the Kuwaiti banking sector. He noted that the financial performance for this period reflects prudent strategies and effective policies that consistently yield sustainable profits, solid financial position, asset quality, and good indicators for operating income, cost to income ratios as well as liquidity ratios and capital adequacy. Global leadership Al-Shamlan said that 'KFH ranked first as the best-performing bank in Kuwait, according to The Banker magazine's 2025 ranking of the top 1,000 global banks. KFH has maintained its position as Kuwait's largest listed company, in Forbes' Global 2000 list for the largest public companies in the world, reinforcing its standing using four metrics, revenues, profits, assets and market value.' He pointed out that KFH has won numerous international awards, including 'The Middle East's Best Islamic Bank' and 'Kuwait's Best Bank' from Euromoney. KFH was also named 'Best Bank for Financial Institutions in the Middle East for 2025' by Global Finance, in recognition of its excellence and distinction in banking. Growing market share Al-Shamlan emphasized KFH's ongoing drive to boost market share by offering competitive products, services, and cutting-edge financing solutions, such as Financing Against Gold Account Collateral. He also highlighted the continuous effort to strengthen KFH's presence in international markets, improve coordination among the Group's banks, and enhance customer service through the KFH Group Service Center. Currently, this center supports KFH-Turkey and KFH-Egypt, with plans to extend its services to other Group banks in the coming period. Al-Shamlan attributed the bank's sustained leadership to its vast experience and large customer base, which collectively reinforce its competitive edge and brand strength. Digitalization and innovation Al-Shamlan also noted that KFH continues to lead digital innovation in banking, offering diverse digital services and solutions to elevate customer experience. He added that KFH launched (Fahad), Kuwait's first virtual assistant employee powered by artificial intelligence. This coincides with a comprehensive update and redesign of the KFHOnline app, now offering over 200 digital banking services to meet high customer demand. KFH also introduced the KFH Virtual Rewards Prepaid Card as a unique payment experience, alongside updated customer software. Additionally, a new, secure, and easy payment service for businesses was rolled out, transforming mobile phones into point-of-sale devices for accepting payments via debit cards and digital wallets.
Arab Times
29-01-2025
- Business
- Arab Times
KFH-Egypt Unveils New Identity
KUWAIT CITY, Jan 29: Kuwait Finance House Group (KFH) has officially rebranded Ahli United Bank – Egypt to KFH – Egypt, following its acquisition of Ahli United Bank Group – Bahrain. KFH – Egypt now operates as a fully Sharia-compliant bank within the global KFH Group, which has a presence in 12 countries. KFH is a global leader in Islamic banking, recognized as the world's second-largest Islamic bank and Kuwait's largest bank by net profit and market capitalization. Following the 2022 acquisition of Ahli United Bank Group – Bahrain by KFH Group and its subsequent conversion to a Sharia-compliant bank in December 2023, KFH-Egypt (formerly Ahli United Bank – Egypt) has offered complete range of Islamic banking products and services since September 2024. KFH Group is the world's second-largest Islamic bank by assets, with approximately $120 billion. KFH maintains a strong presence in local, regional, and global markets, operating in 12 countries. Its extensive international network includes around 680 branches, 2300 ATMs, and a workforce of nearly 18,000 employees. KFH Group's mission is to deliver superior innovation and customer service excellence while protecting and enhancing the interests of all our stakeholders. Its vision is to lead the international development of Islamic financial services and become the most trusted and sustainably most technologically advanced Shariah-compliant bank in the world. KFH-Egypt prioritizes digital transformation, creating cutting-edge services and products that enhance customer experience with quality, convenience, and robust security. The bank is driven by the expertise of the KFH Group, which recently unveiled a new visual identity under the 'Beyond Horizons' slogan to reflect its global expansion, achievements, and ambitious goals. The new identity reflects a commitment to continued technological advancement, development, and innovation in the digital age. It also underscores a dedication to enhancing leadership and achieving excellence in Islamic banking services. KFH Group Chairman, Hamad Abdulmohsen Al-Marzouq KFH Group Chairman, Hamad Abdulmohsen Al-Marzouq said: 'We are delighted to be in Egypt today to mark the beginning of a new era in Islamic banking with the unveiling of the new visual identity for Ahli United Bank – Egypt. Effective today, the bank will officially operate as KFH-Egypt, a historic milestone that will significantly contribute to Egypt's Islamic banking sector and strengthen its national economy." He added: 'KFH boasts extensive expertise in Islamic banking and stands as the largest bank in Kuwait in terms of market cap. It is also the largest listed company on Boursa Kuwait at the private sector level, with a market value of approximately $42 billion. Moreover, KFH has become the world's second-largest Islamic bank, with a presence in 12 countries, most prominently Kuwait, Bahrain, Turkey, Egypt, Germany, and the United Kingdom. This undoubtedly strengthens the standing of KFH-Egypt as a trusted global brand with international reach, reinforcing our ambitious vision of placing KFH Group among the world's top 100 banks.' Al-Marzouq further stated: 'Following the historic acquisition of Ahli United Bank Group – Bahrain in October 2022, we dedicated significant efforts at the Group level. By the grace of Allah, we have successfully completed the conversion of Ahli United Bank – Egypt into a fully Sharia-compliant bank. With the launch of our new visual identity, the bank is now officially rebranded as KFH-Egypt, marking an expansion of our banking operations in the Egyptian market, a promising market with substantial growth opportunities.' He affirmed that the new visual identity titled (Beyond Horizons) reflects KFH's futuristic vision, growth strategy, and digital excellence, reinforcing its leadership in advancing global Islamic financial services. It is also a new chapter in the bank's journey and a strategic shift towards achieving our forward-thinking plans, driving greater achievements to the future. The change will directly reflect performance levels and work methodologies, enhancing the banking experience to align with our new identity. 'KFH will be a distinguished addition to the Egyptian banking sector. Additionally, KFH remains committed to its social responsibility efforts in all the countries where it operates. Recently, the bank donated $10 million to the Misr El-Kheir Foundation in support of its charitable initiatives in Egypt,' added Al-Marzouq. He extended his gratitude to all employees and the executive management of KFH- Egypt, wishing them success in the next phase. He also stressed the importance of maintaining leadership in Islamic banking by continuously offering superior financial services, products, and solutions that exceed customer expectations. Chief Executive Officer and Board Member of KFH – Egypt, Hala Sadek Chief Executive Officer and Board Member of KFH – Egypt, Hala Sadek said that: " We are pleased to announce the official rebranding of Ahli United Bank-Egypt to Kuwait Finance House-Egypt (KFH- Egypt)." She added that this change goes beyond mere rebranding or a visual identity shift. It represents a significant strategic step, reflecting our full integration into the KFH Group, a global leader in Sharia-compliant banking services. "We remain committed to delivering exceptional banking services while enhancing our focus on providing innovative solutions that comply with Islamic principles, catered to the diverse needs of our customers. Building upon the strong financial solvency and competitive advantages of KFH Group, renowned for its leadership and quality in the banking sector, this step reflects our ambitious goals for expansion and growth, capitalizing on the Group's expertise and capabilities," she emphasized. Sadek underscores KFH's goal of attaining an Egyptian market share commensurate with the Group's size and aspirations. This strategy aims to bolster the competitiveness of Islamic financial services, attract new clientele, and foster greater financial inclusion within the Egyptian market. She pointed out that the Bank's conversion to Sharia-compliant banking services enhances its growth opportunities, given the increasing demand for Islamic banking. Additionally, it contributes to achieving financial inclusion goals by attracting new customer segments interested in Sharia-compliant products and services. She revealed that KFH-Egypt will offer its customers a comprehensive range of financial products and services that comply with Sharia requirements, including Murabaha, Wakala, and Ijarah. "The conversion of the Bank's operations will not affect the previously agreed-upon commercial terms with customers until the financing's maturity date, nor will it impose any burdens or costs on them as a result of this conversion," Sadek added. It is noteworthy that KFH- Egypt (formerly known as Ahli United Bank - Egypt) has achieved outstanding financial results in the first nine months of 2024. This reflects the steady growth of the bank's activities, its customer base, and its geographical expansion across the Arab Republic of Egypt. The financial results demonstrated a consolidated net profit of EGP 4.73 billion by the end of September 2024, a 71% increase compared to the same period in the previous year. The financial position statement showed a 26% increase in total assets, reaching EGP 142 billion by the end of September 2024. This growth reflects a strong capital base, high liquidity ratios, and high-quality assets. Furthermore, net financing income surged by 55.6%, reaching EGP 5.6 billion by the end of September 2024, while net fee and commission income reached EGP 725 million. Customer deposits grew by 30%, reaching EGP 117 billion by the end of September 2024. Additionally, the financing portfolio increased to EGP 84.2 billion, representing a 25% growth. The Bank currently operates a network of approximately 44 branches distributed across the Arab Republic of Egypt.
