Latest news with #KFH
Arab Times
18-05-2025
- Business
- Arab Times
KFH: Pioneering National Economic Support for State Development Goals
KUWAIT CITY, May 18: Kuwait Finance House (KFH) participated as a Platinum Sponsor of the 3rd Kuwait Public Private Partnership conference (PPPKW3), affirming its standing as a key partner in financing strategic development projects. This sponsorship reflects KFH's commitment to supporting initiatives that advance major projects contributing to the achievement of Sustainable Development Goals in Kuwait. The two-day event, taking place on May 18 and 19, is titled: 'Partnership Projects: Promising Leap in the New Era'. The conference is held under the patronage of Kuwait Minister of Finance, Minister of State for Economic and Affairs and Investment, and Chair of the Higher Committee for Public-Private Partnership Projects, Noura Al-Fassam. Addressing the audience, KFH Deputy Group CEO Transformation, Technology and Operations, Haytham Alterkait, said in his speech: 'Our participation emanates from KFH's national and economic commitment in supporting the State's development plans, capitalizing on its capabilities to enhance the economic environment, promote green financing, and uphold Environmental, Social, and Governance (ESG) standards.' Alterkait pointed out that KFH enjoys robustsolvency and is well-positioned to finance mega projects across key sectors such as energy, water, electricity, and infrastructure. 'This is supported by the KFH's extensive experience, solid financial position, high-quality credit portfolio, and its position as the largest bank in Kuwait and the largest listed company on Boursa Kuwait by market capitalization, amounting to approximately KD 13.7 billion,' he added. Alterkait underscored the significance of the Public-Private Partnership Projects in strengthening the national economy, generating employment opportunities, improving quality of life and maintaining service quality. He emphasized the private sector's expertise in financing, building, and operating projects in alignment with Kuwait Vision 2035, expressing confidence in the government's ability to build a better future for Kuwait. The conference aims to accelerate the implementation of development projects and Kuwait's vision by engaging the private sector in execution plans. This aligns with the global trend, where both developed and developing countries adopt the PPP model as a means of concerted efforts for national progress. The model ensures optimal utilization of both sectors' capabilities. The conference also seeks to promote capacities across various technical domains and clarify the responsibilities of each sector. Adhering to international standards, the PPP approach enables the attraction of top global, regional, and local expertise, enhancing the execution of projects with best-in-class tools and frameworks for professional, technological, and legal development, in line with international specifications and sound governance. Meanwhile, the conference successfully brought together prominent leaders and experts in the PPP space, along with key institutions from both the public and private sectors. Participants benefited from the conference program, including lectures, panel discussions, side meetings, and an exhibition featuring sponsoring companies and specialized institutions showcasing their services and partnership solutions. It serves to note that KFH offers top-tier financing solutions for projects in vital sectors in Kuwait and the region. Leveraging its rooted experience in the financing markets and strong relationships with leading regional and international banks, KFH is well positioned to serve as the ideal Lead Arranger in syndicated financing initiatives.
CNBC
02-05-2025
- Business
- CNBC
See 'equity-like returns' from the Turkish Lira carry trade: CIO
Alan Higgins, CIO of Ahli United Bank (KFH), urges investors to take a more global approach – staying invested in the US, but also looking at global equities and currencies like the Turkish lira.
Arab Times
26-04-2025
- Business
- Arab Times
KFH Assesses Community Engagement with Diraya Campaign
KUWAIT CITY, Apr 26: Kuwait Finance House (KFH) conducted a community banking experiment to assess public banking awareness and offer guidance on the risks, types, and avoidance of financial fraud. This initiative is part of the Diraya banking awareness campaign, launched by the Central Bank of Kuwait in collaboration with the Kuwait Banking Association and Kuwaiti banks, and aligns with KFH`s corporate social responsibility efforts. Conducted during the Derasti exhibition at the Kuwait International Fairground in Mishref, the experiment focused on testing students` banking knowledge. Its aim was to enhance financial awareness and highlight fraudulent activities customers may encounter through various channels, such as SMS, email, phone call, and social media. The experiment elicited a range of responses from the students. Meanwhile, a KFH representative reassured the participating students that the bank would never solicit personal details through email, SMS, or phone call. KFH stressed the critical need to disregard such communications, identifying them as deceptive schemes aimed at acquiring banking credentials and pilfering funds or data. KFH urged customers to safeguard their banking information by never sharing OTP codes and exercising caution with electronic links, as clicking them could lead to the theft of confidential data. The bank also advised enhancing account security by avoiding the storage of sensitive information like card numbers and PINs on phones, keeping PINs secret and unwritten, and always logging out of banking apps or websites after use. KFH successfully utilized all its e-channels on social media platforms and its website, mobile app to disseminate awareness content. These endeavors amassed a significant interaction with customers due to the distinctive and useful contents of KFH`s cutting- edge services and products. In conjunction with the rollout of its new digital services, KFH has published several awareness pieces. These services include Kuwait`s first instant printing of credit and prepaid cards, WAMD instant payment in collaboration with KNET, transfers via the Western Union network, and the AFAQ instant transfer service. KFH`s awareness efforts also encompass explanatory videos on topics such as new user registration on the mobile app, cardless cash withdrawals, ATM services, and how to benefit from KFHOnline financial solutions. These videos and other awareness posts are available on KFH`s social media channels (@KFHgroup). In line with the continued awareness efforts, KFH is committed to participating in initiatives and forums that focus on raising banking awareness. These include its participation in the 5th Gulf Conference and Exhibition for Cybersecurity Challenges titled 'A Secure Digital Environment'. During its participation, KFH shed light on the concept of fraud in general, with a specific focus on cyber fraud, explaining the various types of fraud that pose a threat to both individuals and the community.
Arab Times
22-04-2025
- Business
- Arab Times
KFH Reports Net Profit Attributable to the Shareholders of KD 168.1 million for Q1 2025, Highest net profit in the Kuwaiti banking sector
KUWAIT CITY, Apr 22: Chairman of Kuwait Finance House (KFH) Hamad Abdulmohsen Al Marzouq announced that KFH achieved a net profit of KD 168.1 million for the first quarter of 2025 for shareholders, representing an increase of 3.2% compared to the same period last year, and an increase of 41.4% compared to the fourth quarter of last year. Earnings per share for the first quarter of 2025 reached 9.77 fils; an increase of 3.1% compared to the same period last year. Net financing income for the first quarter of the year reached KD 318.9 million; an increase of 21.1% compared to the same period last year. Total operating income for the first quarter of the year increased, supported by an increase in all core activities to reach KD 454.9 million; an increase of 15.9% compared to the same period last year. Net operating income for the first quarter of the year reached KD 295.7 million; an increase of 19.4% compared to the same period last year. Financing receivables increased as of the end of the first quarter of 2025 to reach KD 19.3 billion; an increase of 1.1% compared to the end of last year. Total assets increased as of the end of the first quarter of 2025 to reach KD 36.9 billion; an increase of 0.4% compared to the end of last year. Shareholders' equity amounted to KD 5.5 billion at the end of the first quarter of 2025. Depositors' accounts increased as of the end of the first quarter of 2025 to reach KD 19.5 billion; an increase of 1.3% compared to the end of last year. In addition, the capital adequacy ratio reached 19.38% which is above the limit required by regulators. This ratio confirms the solid capital base of KFH. Sustainable profits In a press release, Al Marzouq stated that KFH`s Q1 2025 growth in key financial indicators demonstrates the successful execution of the strategy approved by the bank`s Board of Directors. He further noted that this performance, achieved despite a complex operating environment and market shifts driven by regional and global economic developments, underscores the strength of KFH`s comprehensive and integrated business model. Al Marzouq added that the growth in all key financial indicators and balance sheet items confirms KFH`s progress in generating higher-quality and sustainable profits. Al Marzouq highlighted that KFH`s financial performance demonstrates its consistent ability to grow profits sustainably. This success validates the effectiveness of KFH`s efforts at every level in attaining its objectives. These objectives include boosting profitability, sustaining high growth, rationalizing expenses, elevating service quality, embracing technology and digitization, and enriching customer interactions through well-defined and carefully managed approaches, rigorous and measurable professional standards, and the capacity for prompt and effective responses to market changes. Furthermore, these efforts take into account increasing competition and evolving customer expectations. He also commended the experienced management for their skill in navigating the business environment and boosting confidence in the bank. Giant banking entity Al Marzouq explained that the expansion abroad had gained significant momentum and brought about a qualitative transformation in KFH`s growth strategy, turning it into a substantial banking entity with a presence in eight countries worldwide. These notably include Kuwait, Bahrain, Egypt, Turkey, the UK, and Germany, supported by an extensive network of over 600 branches. He also noted that KFH continues to lead all banks and companies listed on Boursa Kuwait, with a current market capitalization near to KD 13 billion. "KFH`s recently launched "Beyond Horizons" visual identity reflects the bank`s substantial growth, achievements, global reach, and future ambitions. This new identity also underscores KFH`s ongoing commitment to technological advancement, digital innovation, and its leading position in Islamic finance," he added. Supporting the national economy Underscoring KFH`s pioneering position, Al Marzouq stated that the bank will maintain its support for the Kuwaiti market and national economy. This includes providing financing to corporates within established credit guidelines, as well as its continued focus on corporate banking, corporate and retail financing. KFH actively collaborates with relevant authorities to support and finance small and medium-sized enterprises (SMEs). Recognizing the vital role of these businesses in Kuwait`s economy, job creation, and youth employment, KFH holds the largest SME financing portfolio in the market by the number of beneficiaries. Green Sukuk Al Marzouq highlighted KFH`s ongoing commitment, via its investment arm KFH Capital, to issue more Sukuk for both governments and companies globally. He also stressed a particular focus on green Sukuk, aligning with KFH`s broader strategy for sustainability and the adoption of ESG standards. Social leadership Highlighting KFH`s significant societal impact, Al Marzouq noted the progress achieved through numerous strategic social contributions recently. Key initiatives include a KD 15 million pledge to establish a cardiac center at Mubarak Al-Kabeer Hospital in partnership with the Ministry of Health, and a KD 2 million donation to the Ministry of Social Affairs` debt relief campaign. Previously, KFH also contributed over KD 20 million to settle insolvent individuals` debts in collaboration with the Ministry of Justice. KFH Group Chief Executive Officer, Khaled Yousef AlShamlan Solid financial position KFH Group Chief Executive Officer, Khaled Yousef AlShamlan stated that the Q1 2025 financial indicators demonstrated balanced performance and significant financial strength, showing notable improvements in solvency and growth compared to the same period last year. He added that increased and diversified operating income, along with solid performance across most balance sheet items, highlight the Group`s creditworthiness, reliability, and diverse avenues for future growth and expansion. Diverse financing streams AlShamlan highlighted the successful issuance of a 5-year, US$1 billion Senior Unsecured Sukuk under KFH`s US$4 billion Sukuk Program. This issuance aims to finance KFH`s operations and diversify its funding sources. Furthermore, it will enable KFH to increase its financing and investment capabilities, support infrastructure projects and local productive economic sectors, and assist customers with their regional and global expansion plans. Qualitative digital solutions AlShamlan stated that KFH is focused on increasing its market share and improving service quality by consistently offering qualitative and competitive digital solutions through KFHOnline (both mobile and web), XTMs, and KFH Express. He detailed that KFH offers about 200 electronic services, including online payments, online account opening, instant printing of all bank card types, gold trading, opening deposit and account, instant cheque and card printing, and QR code-based cardless withdrawals via mobile, along with many other financing and banking services that are quick, simple, and secure. Human resources are central to achieving success "KFH underscores the paramount importance of its employees, actively working to boost their skills, performance, and academic and professional growth. Viewing them as central to its success, KFH remains committed to fostering their innovation in services and solutions that improve customer experience, exemplified by the annual "Innovation Challenge". Moreover, to foster employee development, KFH offers educational scholarships alongside extensive in-class and online training programs. KFH also focuses on nurturing Kuwaiti youth for leadership roles, empowering them to drive development," AlShamlan said. He pointed out that KFH is keen on empowering human talents and competencies, noting that the bank celebrated over 230 outstanding staff members at the 2024 Qadha program company. This program, the first of its kind in Kuwaiti banking, has recently earned global recognition with a Gold Medal from the prestigious Brandon Hall Group for Best Advance in Employee Recognition Program at the global level. Global recognition In appreciation of its exceptional efforts, AlShamlan said that KFH received global recognition, scooping around 15 awards for the current year from world-class entities and institutions. Most notable of these awards are: 'Best Islamic bank in the Middle East' and 'Best Bank in Kuwait' from EMEA Finance Magazine. Additionally, KFH attained ISO 22301 certification for its Business Continuity Management Systems (BCMS), reflecting the bank`s proactive capacities and preparedness to face potential risks, in addition to its sustainability in operations and operational efficiency. Thanks and appreciation AlShamlan commended the support of the Board of Directors, the Central Bank of Kuwait and the regulatory authorities for supporting the banking sector. He also praised the efforts of Executive Management, all employees, partners, and stakeholders for their key role and stressed the continuous efforts to maintain KFH`s leading position locally and globally.
Zawya
22-04-2025
- Business
- Zawya
Kuwait: KFH announces $549.4mln net profit in Q1 2025
Kuwait Finance House (KFH) announces a net profit of KD 168.1 million for the first quarter of 2025 for shareholders, representing an increase of 3.2 percent compared to the same period last year, said KFH Chairman Hamad Al-Marzouq. In a statement Tuesday, the KFH chairman said that the earnings per share for the first quarter of 2025 reached 9.77 fils; an increase of 3.1 pct compared to the same period last year. Net financing income for the first quarter of the year reached KD 318.9 million; an increase of 21.1 pct compared to the same period last year, he added. Al-Marzouq stated that KFH`s Q1 2025 growth in key financial indicators demonstrates the successful execution of the strategy approved by the bank`s Board of Directors. He further noted that this performance, achieved despite a complex operating environment and market shifts driven by regional and global economic developments, underscores the strength of KFH`s comprehensive and integrated business model. (en All KUNA right are reserved © 2022. Provided by SyndiGate Media Inc. (
