Latest news with #ShaikhaAl-Bahar
Kuwait Times
4 days ago
- Business
- Kuwait Times
Al-Bahar: Kuwait's operating landscape is promisingIn an interview with CNBC International
'We remain optimistic about sustained momentum into H2 2025' KUWAIT: Shaikha Al-Bahar, Deputy Group Chief Executive Officer at National Bank of Kuwait (NBK), affirmed that the Bank delivered a strong quarterly performance, recording a 24 percent increase, while profitability for the first half of the year grew by 7.8 percent year-on-year. In an interview with CNBC International, Al-Bahar noted that second-quarter profits were supported by provision recoveries and lower credit provisions, in addition to a healthy mix of interest income, which grew by 1.5 percent year-on-year, and a strong 8.9 percent increase in non-interest income. Al-Bahar pointed out that net operating income grew by 3.1 percent, as the Bank delivered solid year-on-year growth in business volume, an outcome that underscores the success of its diversification strategy. She noted that this performance was fueled by continued momentum across various business segments and the Bank's branch network, adding that the loan portfolio grew by 12.1 percent as of June 2025. Al-Bahar stated that the government has recently issued the executive regulations of the new corporate tax law, indicating its effective implementation in 2025. She explained that, as NBK Group is classified as a multinational entity under the new law, its effective tax rate rose from 9.2 percent in the first half of 2024 to 16 percent. This impact will be reflected in the Group's quarterly reports throughout the year, though its effect on full-year results is expected to fade beyond 2025. Dividend distribution Commenting on the decision to retain interim dividends, Al-Bahar said: 'NBK remains committed to rewarding its shareholders while maintaining a focus on long-term value creation. The decision to carry forward first-half profits to the end of the year and prioritize final dividend distribution was driven by the promising development opportunities across our markets, as well as the anticipated uptick in local activity. Kuwait is currently entering the execution phase of several mega projects, which will present significant opportunities for the banking sector, and for NBK in particular.' Al-Bahar added that the temporary capital ratio constraints resulting from an interim distribution would have limited the Bank's growth prospects over the course of the year. Kuwait's operating environment Responding to a question on the outlook for the operating environment in Kuwait, Al-Bahar stated that conditions remain highly favorable, with a very positive outlook for the period ahead. She added that the current economic climate presents promising opportunities for the Bank both in Kuwait and across other markets where it operates. Commenting on the impact of the new tariffs and taxes imposed by the US administration, Al-Bahar emphasized that GCC economies are closely tied to fluctuations in the oil market. Fortunately, she noted, the tariffs do not extend to oil and gas, although some price volatility may persist due to ongoing adjustments in the global economic growth outlook. Al-Bahar stressed that a prolonged decline in oil prices could pose challenges to the fiscal positions of GCC countries. However, she pointed out that most of these countries possess substantial sovereign reserves, which would significantly support the financing of major projects and business opportunities. Kuwait's economic outlook Regarding the prospects of the Kuwaiti economy, Al-Bahar reiterated her optimistic outlook, noting that the outlook remains highly positive, driven by emerging growth opportunities, steady progress in implementing strategic government plans, and strong momentum to empower the private sector. She added that the government continues to stimulate the economy, which will generate significant benefits for the banking sector. Furthermore, she explained that a near-term challenge for banking sector profitability may stem from tightening margins. Despite some liquidity declines in other markets, margins remain compressed, and the anticipated shift by the US Federal Reserve toward lower interest rates will undoubtedly place additional pressure on spreads and, consequently, profitability. That said, this impact may be mitigated by stronger economic momentum and broad-based growth across multiple sectors. She explained that NBK's regional and international growth plays a vital role in diversifying income streams and reinforcing the strength of its business operations. H2 2025 forecast Commenting on the outlook for the second half of the year, Al-Bahar emphasized that the government's approval of the Financing and Liquidity Law marks a positive step for the economy, as it supports the government's ability to implement its expansionary plans. She noted that following the law's approval, the Central Bank began issuing local debt instruments on behalf of the government amounting to KD 700 million — a move that enables the deployment of previously non-interest-bearing deposits with the Central Bank and significantly boosts the Bank's profitability. 'We look forward to continued issuances through year-end as a means to effectively deploy excess liquidity,' Al-Bahar said. 'Our optimism is further reinforced by the government's stated intention to issue between KD 3 billion and KD 6 billion in debt instruments over 2025–2026. Similarly, Kuwait Investment Authority (KIA) has issued RFPs to international parties, signaling the potential issuance of sovereign bonds worth up to $6 billion. All of this points to a wealth of promising opportunities for banks operating in Kuwait.' • We recorded substantial growth in business volumes, fueled by sustained momentum across multiple sectors and our international branch network • Our ongoing regional and international expansion continues to diversify revenue streams and reinforce the Group's operational strength • The economic outlook remains positive, supported by emerging growth opportunities and steady progress on government-led reform initiatives • We have a lucrative dividend policy - one that strikes a balance between delivering attractive returns to shareholders and managing capital ratios prudently
Kuwait Times
06-07-2025
- Business
- Kuwait Times
NBK concludes full stack developer program in collaboration with CODED
Nineteen trainees successfully completed the specialized program KUWAIT: National Bank of Kuwait (NBK) has concluded the Full Stack Developer Bootcamp—an intensive 14-week training initiative held at the Bank's headquarters in collaboration with CODED Academy. The program aims to strengthen the technical capabilities of young professionals in the banking sector, equipping them with advanced skills in programming and technology to support the industry's digital transformation. The closing ceremony of the program was attended by members of NBK's executive management led by Shaikha Al-Bahar, Deputy Group Chief Executive Officer at NBK, Mohammad Al-Kharafi, Group Chief Operating Officer at NBK, and Emad Al-Ablani, Group Chief Human Resources Officer at NBK, alongside senior leaders from both the Bank and CODED Academy. During the event, certificates were awarded to the 19 trainees who successfully completed the program. Graduates presented their final projects, showcasing the technical skills and practical knowledge they gained throughout the training program, which drew highly favorable reactions from the audience. The program was designed to equip trainees with professional competencies in software development, introducing them to advanced and comprehensive programming techniques and their practical applications in the workplace. It was structured in two phases: the first—a two-week selection and foundational stage—aimed to assess participants' technical readiness and commitment to the program's rigorous standards. The second phase, spanning 12 weeks, provided an immersive experience in advanced programming languages and integrated development techniques, enabling trainees to apply their skills in real-world scenarios. Commenting on the program, Emad Al-Ablani, Group Chief Human Resources Officer at NBK, stated: 'NBK's organization of this distinguished program in collaboration with CODED Academy reflects our ongoing commitment to empowering Kuwaiti youth. We remain dedicated to launching innovative training initiatives, educational programs, and targeted workshops that foster creativity, drive innovation, and prepare young talent to navigate today's competitive job market with confidence.' He further noted that NBK offers full-time employment opportunities to top-performing graduates of the program. Al-Ablani emphasized that, in line with NBK's pioneering role in driving digital transformation and its firm belief in the importance of empowering national talent, the Bank remains deeply committed to supporting Kuwait's strategic technological agenda. He noted that NBK continuously works to enhance the digital capabilities of Kuwaiti professionals by equipping them with the technical skills necessary to contribute effectively to the nation's economic development, address future challenges, and stay abreast of rapid technological advancements—across all sectors in general, and the banking industry in particular. He emphasized that NBK remains committed to leaving a lasting social impact by supporting a wide range of programs and initiatives focused on developing highly skilled national talent. He added that Kuwaiti youth possess immense potential and capabilities that, with the right guidance and nurturing, can be effectively harnessed to advance the nation's sustainable development goals. NBK plays a pivotal role in shaping the development journey of the current generation of Kuwaiti youth, placing strong emphasis on programs and initiatives designed to equip young individuals with the knowledge and skills essential to their personal growth and the long-term prosperity of Kuwaiti society as a whole. Furthermore, NBK remains firmly committed to staying at the forefront of technological advancement, continuously embracing innovation to pave the way for a successful digital future. The Bank consistently rolls out targeted training programs and initiatives aimed at fostering innovation and building specialized skill sets, including programming languages, coding, data analysis, and other key competencies essential to the evolving digital landscape. Al-Ablani: We are committed to launching innovative training initiatives that foster creativity and empower Kuwaiti youth Our goal is to equip a new generation with the skills needed to drive technological progress and actively contribute to the growth of the national economy
Kuwait Times
27-05-2025
- Business
- Kuwait Times
NBK-Egypt reports EGP 2 bn net profit
KUWAIT: National Bank of Kuwait - Egypt (NBK-Egypt) has reported net profits of EGP 2 billion (Equivalent to KD 12.6 million) for the first three months of 2025, from the EGP 1.3 billion (Equivalent to KD 11.7 million) reported in the corresponding period of 2024, showcasing an impressive growth rate of 58 percent. Net Operating Income stood at EGP 3.8 billion in 1Q2025, recording an increase of 38 percent from EGP 2.8 billion recorded in the corresponding period of 2024. In the meantime, Net Interest Income grew by 41 percent, reaching EGP 3.3 billion compared to EGP 2.4 billion in 1Q2024. Meanwhile, Net Operating Income (excluding interests) increased to EGP 0.5 billion in 1Q2025, compared to EGP 0.4billion in 1Q2024, up by 20 percent, while Cost to Net Operating Income dropped from 26 percent in 1Q2024 to 25 percent in 1Q2025. Total assets reached EGP 203 billion by the end of 1Q2025, up by 4 percent compared to EGP 196 billion by the end of 2024. Furthermore, total loans and credit facilities expanded to EGP 109 billion in 1Q2025, reflecting a growth rate of around 5 percent compared to EGP 104 billion recorded at the end of 2024. Additionally, customer deposits increased to EGP 164 billion by the end of 1Q2025, up from EGP 160 billion at the end of 2024, representing a growth rate of 3 percent. Furthermore, The Return on Average Assets (ROAA) improved to 4.1 percent in 1Q2025, compared to 3.6 percent in the corresponding period of 2024, while the Return on Average Equity (ROAE) increased to 35.8 percent in 1Q2025, up from 33.6 percent in the corresponding period of 2024. Commenting on the financial results announced by NBK-Egypt, Shaikha Al-Bahar, Deputy Group Chief Executive Officer, National Bank of Kuwait, and Chairman of NBK-Egypt, said: 'The robust profit growth achieved by National Bank of Kuwait – Egypt in the first quarter of 2025 is a clear testament to the strength of our financial position, the resilience of our business model, and our ability to perform across varying economic landscapes.' Yasser El Tayeb Shaikha Al Bahar Al-Bahar explained that despite operational headwinds, the bank succeeded in delivering strong performance across its core business segments during the first quarter of 2025. She emphasized that the continued expansion of the bank's balance sheet and the sustained growth in key financial indicators reaffirm the soundness of NBK Group's strategic vision. She noted that the bank remains firmly on track to further strengthen its position in what has become the Group's most significant foreign market, given Egypt's vast potential, positive outlook, and promising growth opportunities. Furthermore, Al-Bahar affirmed that Egypt remains a key growth market for NBK Group and represents a cornerstone of its long-term strategic investments. She highlighted that the Group's operations in Egypt continue to rank among its most profitable, delivering the highest returns on shareholders' equity and assets. This performance, she noted, reflects the success of NBK's business diversification strategy and the rapid momentum of its digital transformation journey—both of which are central to the bank's efforts to expand its market share, particularly in retail banking, within one of the region's most populous countries and one of its most promising investment landscapes. She underscored the prominent footprint NBK Egypt has established as one of the fastest-growing banks in the Egyptian banking sector—an achievement clearly reflected in its robust financial indicators and the sustained growth in business performance witnessed over recent years. Al-Bahar also noted that NBK Egypt is focused on enhancing the quality of its services, expanding its geographical presence, and reaching a broader and more diverse customer base. She highlighted the significant strides the bank has made in modernizing its digital infrastructure, information technology systems, and electronic channels—advancements that have reinforced its position as a strong and competitive player in the Egyptian banking market. This progress comes in tandem with the growing demand for banking services and the rising momentum of financial inclusion across the country. Meanwhile, Vice Chairman, CEO, and Managing Director of National Bank of Kuwait-Egypt, Mr. Yasser El-Tayeb, said: 'The robust financial results achieved by the bank at the end of the first quarter of 2025 underscore the resilience and adaptability of our business model, enabling sustained growth despite the challenges posed by local, regional, and global market conditions.' El-Tayeb highlighted that NBK Egypt's business growth is well-balanced across all sectors, while maintaining efficiency and risk ratios aligned with sustainable expansion. This success is attributed to the bank's prudent policies and a flexible business model designed to effectively meet customer needs. He emphasized that NBK-Egypt is experiencing consistent growth across all activities and business sectors while maintaining efficiency rates and risk ratios that align with this expansion. This approach ensures business sustainability and customer satisfaction alike, thanks to the bank's prudent policies and its robust business model capable of meeting customer needs and diversifying income sources. He further added that the majority of NBK Egypt's income is generated from credit operations within the corporate sector, alongside contributions from retail banking. The bank's credit portfolio encompasses a wide range of clients, including large, medium, and small enterprises, while its retail banking portfolio serves diverse customer segments. This breadth underscores the strength and diversity of the bank's income sources. Al-Tayeb emphasized the bank's commitment to further strengthening its position in the retail banking sector by offering advanced services and products tailored to diverse customer segments, aiming to establish itself as a comprehensive bank that fulfills all their financial and life needs. He also affirmed the bank's ongoing commitment to enhancing its digital banking services, aiming to deliver a seamless and unique banking experience that enables customers to carry out most of their transactions anytime and from anywhere. He added that the bank is actively working to encourage wider adoption of digital payment channels, in line with the broader policy directions of the Egyptian government and the Central Bank of Egypt. El-Tayeb concluded by underscoring NBK Egypt's commitment to supporting the global shift toward sustainable finance and the transition to a green economy. He noted that the bank actively backs environmentally responsible projects that promote sustainability and rely on renewable energy sources. In addition, it continues to explore viable solutions to mitigate the adverse effects of climate change and reduce carbon emissions. He further highlighted that sustainable finance has become one of the most critical tools for safeguarding long-term financial stability.
Kuwait Times
22-05-2025
- Business
- Kuwait Times
Shaikha Al-Bahar only Kuwaiti on Fortune's 100 powerful businesswomen in 2025 list
Al-Bahar stands as second-highest ranked executive from Mideast KUWAIT: Shaikha Al-Bahar, Deputy Group Chief Executive Officer of National Bank of Kuwait (NBK), has been recognized as Kuwait's most influential businesswoman and the sole Kuwaiti featured in Fortune Magazine's prestigious 2025 list of the 100 Most Powerful Women in Business. Al-Bahar stands as the second-highest ranked executive from the Middle East region on this coveted list. The list, compiled by Fortune editors, is based on company size and health of the business, as well as an executive's career trajectory, influence, innovation and efforts to make business better. More than 50 women currently lead Fortune 500 companies, yet only 20 made this year's list — a testament to how increasingly competitive the ranking has become. Featured in the 2025 ranking are some of the most influential figures in global business, including Mary Barra, Chair and CEO of General Motors; Julie Sweet, Chair and CEO of Accenture; Jane Fraser, CEO of Citigroup; Lisa Su, Chair and CEO of AMD; and Ana Botín, Executive Chairman of Banco Santander. In her role at NBK, Al-Bahar continues to play a pivotal part in driving the bank's sustained growth and transformation. Her leadership spans critical initiatives including digital innovation, sustainability strategies, and policy development to extend NBK's regional footprint. She has been instrumental in advancing sustainable finance efforts aligned with the global transition towards a low-carbon economy and climate risk mitigation. Driven by her strategic vision, NBK reinforced its position as Kuwait's largest bank and a regional powerhouse with top-tier credit ratings. Building on this momentum, she spearheaded the Group's digital transformation, notably launching 'Weyay,' Kuwait's first fully digital bank tailored to redefine financial engagement for younger generations. Al-Bahar was also a key architect behind NBK's Sustainable Financing Framework, embedding global ESG standards into the bank's operations. Beyond business, Al-Bahar is a strong advocate for social impact. She launched NBK RISE, a transformative initiative aimed at empowering women in leadership roles and led the 'Bankee' Financial Literacy Program in partnership with the Ministry of Education and the Public Authority for Anti-Corruption 'Nazaha.' In the 2024–2025 academic year alone, the program reached more than 32,000 students and 7,200 teachers, marking a significant step forward in advancing financial literacy among Kuwait's youth.
Arab Times
20-05-2025
- Business
- Arab Times
NBK's Shaikha Al-Bahar only Kuwaiti on Fortune's 100 list
KUWAIT CITY, May 20, (Agencies): Deputy Group Chief Executive Officer (CEO) of the National Bank of Kuwait (NBK) Shaikha Al-Bahar is the only Kuwaiti who made it to the 2025 100 Most Powerful Women in Business List that Fortune released on Tuesday. The list consists of a hundred influential businesswomen in the finance, technology, health care, telecom, retail, energy and other industries. In 1977, Al-Bahar joined NBK, where she proved her leadership capabilities as she rose through the ranks over the years. At present, she is the only woman in the executive management team of the bank. She currently heads NBK-France and Egypt; in addition to her post as board member of NBK (International) -- the subsidiary of the bank in the United Kingdom. Al-Bahar was the brain behind the launching of NBK RISE, a program that aims to empower women leaders and train them within nine months to assume leadership posts. NBK is one of the largest financial institutions in Kuwait and one of the leading banks in the region. The total value of its assets as at the end of March reached more than $135 billion. Group CEO of First Abu Dhabi Bank in the United Arab Emirates Hana Al-Rostamani joins Al-Bahar as the only two women from the Gulf on the list, ranking 76th and 92nd respectively. The Fortune editors compiled the list based on company size and health; in addition to an executive's career path, influence, innovation, and efforts to make business better. The 2025 list includes 52 women from the United States of America and 48 from other countries as follows: eight from China; seven each from France and the United Kingdom; three each from Germany, Singapore and Brazil; two each from Australia, Hong Kong, Japan and Spain; and one each from Kuwait and the United Arab Emirates. Chief Operator at Costco and merchant Claudine Adamo, who ranked 43rd, is one of 16 newcomers. She helped millions of Americans navigate inflation by keeping prices low on essentials, and the next-gen execs such as ByteDance CFO Julie Gao (81st), who steered the finances of the TikTok owner through its tangles with the US government. Following are the top 10 Most Powerful Women in Business in 2025: 1. Mary Barra, Chair and CEO, GM (U.S.) 2. Julie Sweet, Chair and CEO, Accenture (U.S.) 3. Jane Fraser, CEO, Citigroup (U.S.) 4. Lisa Su, Chair and CEO, AMD (U.S.) 5. Ana Botín, Executive Chairman, Banco Santander (Spain) 6. Tan Su Shan, Deputy CEO and Group Head of Institutional Banking, DBS Group (Singapore) 7. Thasunda Brown Duckett, President and CEO, TIAA (U.S.) 8. Marta Ortega, Chairperson, Inditex (Spain) 9. Abigail Johnson, Chairman and CEO, Fidelity Investments (U.S.) 10. Meng Wanzhou, Deputy Chairwoman, Rotating Chairwoman, and CFO, Huawei (China)
