Latest news with #KuwaitInternationalBank
Al Bawaba
43 minutes ago
- Business
- Al Bawaba
KIB Group reports net profit of KD 14.8 million for H1 of 2025
Sheikh Mohammed Jarrah Al-Sabah, Chairman of Kuwait International Bank (KIB), announced the Group's financial results for the first half (H1) ended 30 June 2025. KIB Group achieved net profit attributable to shareholders amounting to KD 14.8 million, compared to KD 12 million in H1 2024, reflecting a growth of 23%. Earnings per share (EPS) stood at 7.11 fils, compared to 5.70 fils for the same period last year. Total operating income was almost KD 46.3 million, registering a growth of 10% compared to the first half of 2024. Commenting on the latest financial results, Al-Jarrah emphasized that this outstanding performance marks a starting point towards achieving the Bank's ambitious goals under its new five-year strategy, which aims to strengthen its position in the banking sector through continued innovation in services and products, expansion of the operational base, and a focus on delivering added value to both shareholders and also affirmed that KIB is focused on developing digital banking solutions to provide customers with a seamless and innovative banking experience. This goes hand in hand with expanding the customer base and targeting new segments, while placing emphasis on sustainability and social responsibility as integral components of the Bank's comprehensive growth strategy, ensuring strong and sustainable long-term the Bank's financial statements for the first half of 2025, Al-Jarrah stated that KIB's total assets grew by 20% to reach KD 4.19 billion, compared to KD 3.50 billion as of 30 June 2024. This growth was driven by an increase in the financing portfolio, which rose by 23% or KD 572 million as of end of June 2025 to reach KD 3.09 billion, compared to KD 2.52 billion for the same period of 2024. Meanwhile, its investment and high-quality Sukuk portfolio grew by KD 117 million, reaching almost KD 522 million as of end of June 2025, compared to KD 405 million as of 30 June Al-Jarrah stated that the Bank places strong emphasis on human capital by attracting and developing talent and grooming future leaders, in parallel with its firm commitment to social his part, Raed Jawad Bukhamseen, Vice Chairman and CEO of KIB, expressed his pride in KIB's performance during the first half of 2025, noting that the bank have strong capital base, and improvement in assets quality and profitability along with balanced growth in financing and deposits, reflecting successful implementation of the strategy and improvement in sustainable performance added that KIB is making strides in strengthening its institutional foundation and developing a more flexible business model that can adapt to market dynamics, ensuring an effective response to customer needs and ongoing developments in the banking sector. He emphasized that KIB places customer experience at the core of its priorities and plays an active role in delivering value by adopting a customer-centric approach and striving for operational excellence. He also noted that the Bank is intensifying its efforts to support the local and national economy, as well as the wider community, through strategic social responsibility initiatives grounded in inclusion and provided a detailed overview of the key financial results for the first half of 2025 compared to the same period of last year, where fees and commission income, reaching KD 9.3 million compared to KD 7.8 million in the previous period, reflecting a growth rate of 20%. The Bank also recorded an increase in investment income, reaching KD 2.9 million compared to KD 1.9 million in the previous period, reflecting a growth rate of 51%. This contributed to a rise in total operating income, which reached almost KD 46.3 million, marking a growth of 10%.Regarding the Bank's financial position, Bukhamseen said that KIB's customers' deposits grew by 34% to reach KD 2.84 billion as of 30 June 2025 compared to KD 2.12 billion as of 30 June 2024. In addition, the total shareholders equity grew 6% to reach KD 358 million as of 30 June 2025 compared to KD 336 million for the same period of last year. He noted that KIB continues to maintain high levels of total capital adequacy ratio, in accordance with Basel III instructions, of 21.96% at of 30 June a related context, Bukhamseen emphasized KIB's strong commitment to its social role, reaffirming its continued support for the 'Let's Be Aware' (Diraya) banking awareness campaign for the fifth consecutive year. This commitment to the initiative, launched by the Central Bank of Kuwait in collaboration with the Kuwait Banking Association and local banks, is an integral part of the Bank's strategy to foster a more financially aware and educated society, thereby contributing to economic stability and supporting comprehensive development efforts in Kuwait. In their concluding remarks, Al-Jarrah and Bukhamseen expressed their appreciation to the Central Bank of Kuwait for its exceptional regulatory and supervisory roles, as well as its consistent support. They also expressed their gratitude to the Capital Markets Authority for its supportive role in fostering an attractive and competitive investment environment in Kuwait. In addition, they praised the tireless efforts of all KIB teams, highlighting their contributions to achieving these results. They also expressed their profound appreciation to the Board of Directors and Executive Management for their ongoing support and wise guidance, which have been crucial in enhancing KIB's financial standing and meeting all environmental, social, and corporate governance (ESG) requirements.
Zawya
17 hours ago
- Business
- Zawya
KIB Group reports net profit of KD 14.8mln for H1 of 2025
Kuwait: Sheikh Mohammed Jarrah Al-Sabah, Chairman of Kuwait International Bank (KIB), announced the Group's financial results for the first half (H1) ended 30 June 2025. KIB Group achieved net profit attributable to shareholders amounting to KD 14.8 million, compared to KD 12 million in H1 2024, reflecting a growth of 23%. Earnings per share (EPS) stood at 7.11 fils, compared to 5.70 fils for the same period last year. Total operating income was almost KD 46.3 million, registering a growth of 10% compared to the first half of 2024. Commenting on the latest financial results, Al-Jarrah emphasized that this outstanding performance marks a starting point towards achieving the Bank's ambitious goals under its new five-year strategy, which aims to strengthen its position in the banking sector through continued innovation in services and products, expansion of the operational base, and a focus on delivering added value to both shareholders and customers. Al-Jarrah also affirmed that KIB is focused on developing digital banking solutions to provide customers with a seamless and innovative banking experience. This goes hand in hand with expanding the customer base and targeting new segments, while placing emphasis on sustainability and social responsibility as integral components of the Bank's comprehensive growth strategy, ensuring strong and sustainable long-term returns. Regarding the Bank's financial statements for the first half of 2025, Al-Jarrah stated that KIB's total assets grew by 20% to reach KD 4.19 billion, compared to KD 3.50 billion as of 30 June 2024. This growth was driven by an increase in the financing portfolio, which rose by 23% or KD 572 million as of end of June 2025 to reach KD 3.09 billion, compared to KD 2.52 billion for the same period of 2024. Meanwhile, its investment and high-quality Sukuk portfolio grew by KD 117 million, reaching almost KD 522 million as of end of June 2025, compared to KD 405 million as of 30 June 2024. Moreover, Al-Jarrah stated that the Bank places strong emphasis on human capital by attracting and developing talent and grooming future leaders, in parallel with its firm commitment to social responsibility. On his part, Raed Jawad Bukhamseen, Vice Chairman and CEO of KIB, expressed his pride in KIB's performance during the first half of 2025, noting that the bank have strong capital base, and improvement in assets quality and profitability along with balanced growth in financing and deposits, reflecting successful implementation of the strategy and improvement in sustainable performance indicators. He added that KIB is making strides in strengthening its institutional foundation and developing a more flexible business model that can adapt to market dynamics, ensuring an effective response to customer needs and ongoing developments in the banking sector. He emphasized that KIB places customer experience at the core of its priorities and plays an active role in delivering value by adopting a customer-centric approach and striving for operational excellence. He also noted that the Bank is intensifying its efforts to support the local and national economy, as well as the wider community, through strategic social responsibility initiatives grounded in inclusion and sustainability. Bukhamseen provided a detailed overview of the key financial results for the first half of 2025 compared to the same period of last year, where fees and commission income, reaching KD 9.3 million compared to KD 7.8 million in the previous period, reflecting a growth rate of 20%. The Bank also recorded an increase in investment income, reaching KD 2.9 million compared to KD 1.9 million in the previous period, reflecting a growth rate of 51%. This contributed to a rise in total operating income, which reached almost KD 46.3 million, marking a growth of 10%. Regarding the Bank's financial position, Bukhamseen said that KIB's customers' deposits grew by 34% to reach KD 2.84 billion as of 30 June 2025 compared to KD 2.12 billion as of 30 June 2024. In addition, the total shareholders equity grew 6% to reach KD 358 million as of 30 June 2025 compared to KD 336 million for the same period of last year. He noted that KIB continues to maintain high levels of total capital adequacy ratio, in accordance with Basel III instructions, of 21.96% at of 30 June 2025. In a related context, Bukhamseen emphasized KIB's strong commitment to its social role, reaffirming its continued support for the 'Let's Be Aware' (Diraya) banking awareness campaign for the fifth consecutive year. This commitment to the initiative, launched by the Central Bank of Kuwait in collaboration with the Kuwait Banking Association and local banks, is an integral part of the Bank's strategy to foster a more financially aware and educated society, thereby contributing to economic stability and supporting comprehensive development efforts in Kuwait. In their concluding remarks, Al-Jarrah and Bukhamseen expressed their appreciation to the Central Bank of Kuwait for its exceptional regulatory and supervisory roles, as well as its consistent support. They also expressed their gratitude to the Capital Markets Authority for its supportive role in fostering an attractive and competitive investment environment in Kuwait. In addition, they praised the tireless efforts of all KIB teams, highlighting their contributions to achieving these results. They also expressed their profound appreciation to the Board of Directors and Executive Management for their ongoing support and wise guidance, which have been crucial in enhancing KIB's financial standing and meeting all environmental, social, and corporate governance (ESG) requirements. About KIB Kuwait International Bank (KIB) is a bank that operates according to the Islamic Shari'ah, based in the State of Kuwait. Incorporated in 1973, and originally known as Kuwait Real Estate Bank, KIB made the transition to its current Islamic operating model in 2007. In 2018, KIB embarked on a new phase of its journey full of innovation and development. As part of its new strategic direction, the Bank focuses on offering a next-level customer experience under the slogan: 'Bank for Life'. Through a network of branches spread across the State of Kuwait, KIB offers a broad range of banking products and services, as well as innovative digital banking solutions in line with international best standards. As part of its duty towards the community, the Bank also encompasses a leading social responsibility program that aims at positively impacting all members of the community through a wide range of impactful initiatives and activities. Today, KIB has taken concrete steps in implementing its new strategic objectives. The Bank has cemented its role as a key player in the local banking industry and has continued to maintain its strong financial performance; enabling it to be globally recognized for its strong credit rating and financial position.
Yahoo
14-07-2025
- Business
- Yahoo
Diebold Nixdorf Enhances Kuwait International Bank's Customer Service with ITM Deployment
Diebold Nixdorf Incorporated (NYSE:DBD) is one of the best new tech stocks with huge upside potential. On July 9, Diebold Nixdorf announced the deployment of its Interactive Teller Machines/ITMs at Kuwait International Bank/KIB. This implementation marks an advancement in KIB's customer service, integrating self-service convenience with personalized banking. The project was executed in collaboration with Axis Solutions, which is a premier provider of advanced banking technology solutions and Diebold Nixdorf's licensed partner in Kuwait. A businessperson in a suit shaking hands to seal a deal, symbolizing the company's corporate banking services. Additional services provided by the ITMs include: cash withdrawal & deposit beyond standard limits, check deposit & encashment, instant card printing & activation for new/replacement debit cards, accessibility features like voice guidance & tactile keypads for visually impaired customers, and the ability to update Civil ID information directly at the ITM. Diebold Nixdorf Incorporated (NYSE:DBD) automates, digitizes, and transforms the way people bank and shop worldwide. It operates through 2 segments: Banking and Retail. Kuwait International Bank (or KIB) is a bank that operates according to the Islamic Shari'ah, based in the State of Kuwait. While we acknowledge the potential of DBD as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the . READ NEXT: and . Disclosure: None. This article is originally published at Insider Monkey. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
09-07-2025
- Business
- Yahoo
Kuwait International Bank Enhances Self-Service Banking with Diebold Nixdorf Technology
Interactive Teller Machines (ITMs) offer expanded services and convenience to customers NORTH CANTON, Ohio, July 9, 2025 /PRNewswire/ -- Diebold Nixdorf (NYSE: DBD), a global leader in transforming the way people bank and shop, announced today the successful implementation of its Interactive Teller Machines (ITMs) at Kuwait International Bank (KIB). This strategic deployment is a significant step forward in how KIB serves its customers, offering a seamless blend of self-service convenience and personalized banking. The new ITMs are now operational at select KIB branches, with plans for additional installations in the near future, including DN Series® ATMs with video capability. The implementation was managed in collaboration with Axis Solutions, Diebold Nixdorf's licensed partner in Kuwait. Customers can now engage via video with a live teller, ensuring that complex transactions are handled seamlessly, even outside traditional banking hours. Other new services provided by the ITMs include: Cash Withdrawal and Deposit Over Limits: The ITMs are equipped to process transactions that exceed standard limits, providing flexibility and greater access to funds. Check Deposit and Encashment: Clients can easily deposit and cash checks, reducing the need for in-branch visits and accelerating processing times. Instant Card Printing and Activation: The ITMs feature on-the-spot card printing, allowing customers to receive and instantly activate new or replacement debit cards immediately. Services for Visually Impaired Customers: The ITMs offer accessibility features such as voice guidance and tactile keypads, ensuring an inclusive banking experience. Civil ID Update: Customers can conveniently update their Civil ID information directly at the ITM, simplifying compliance and reducing the need for branch visits. Nawaf Al-Khrayef, deputy general manager of Retail Banking at KIB, said: "Our new ITMs represent a significant step forward in our commitment to deepening customer relationships by delivering a banking experience that aligns with today's modern lifestyles. By leveraging Diebold Nixdorf's innovative technology, we are offering advanced self-service options that are more convenient and efficient. This advancement reflects our continued efforts to elevate customer service standards in the country and reinforces our core promise to be a true 'Bank for Life'." Abeer Abu Sultan, director at Axis Solutions, said: "We are proud to support KIB's vision for innovation in self-service banking. Through a forward-thinking approach, KIB has positioned its self-service channel as a key competitive advantage in Kuwait's banking sector, redefining customer journeys and fueling investment in digital infrastructure. By deploying Diebold Nixdorf's advanced solutions, KIB is enhancing the customer experience and supporting the ongoing advancement of banking services in the local industry." Habib Hanna, managing director, Middle East, at Diebold Nixdorf, said: "We are excited to partner with Kuwait International Bank to provide their customers with a modern and convenient banking experience, all in one convenient location. Diebold Nixdorf's ITMs are easy to service and offer a suite of advanced capabilities that empower KIB to meet the evolving needs of their customers." About Kuwait International Bank Kuwait International Bank (KIB) is a bank that operates according to the Islamic Shari'ah, based in the State of Kuwait. Incorporated in 1973, and originally known as Kuwait Real Estate Bank, KIB made the transition to its current Islamic operating model in 2007. In 2018, KIB embarked on a new phase of its journey full of innovation and development. As part of its new strategic direction, the Bank focuses on offering a next-level customer experience under the slogan: "Bank for Life". Through a network of branches spread across the State of Kuwait, KIB offers a broad range of banking products and services, as well as innovative digital banking solutions in line with international best standards. As part of its duty towards the community, the Bank also encompasses a leading social responsibility program that aims at positively impacting all members of the community through a wide range of impactful initiatives and activities. Today, KIB has taken concrete steps in implementing its new strategic objectives. The Bank has cemented its role as a key player in the local banking industry and has continued to maintain its strong financial performance; enabling it to be globally recognized for its strong credit rating and financial position. About Axis Solutions Axis Solutions is a premier provider of advanced banking technology solutions, dedicated to enhancing the financial services industry through innovation and expertise. With a focus on delivering cutting-edge products and services, Axis Solutions partners with leading institutions to drive digital transformation and improve customer experiences. About Diebold Nixdorf Diebold Nixdorf, Incorporated (NYSE: DBD) automates, digitizes and transforms the way people bank and shop. As a partner to the majority of the world's top 100 financial institutions and top 25 global retailers, our integrated solutions connect digital and physical channels conveniently, securely and efficiently for millions of consumers each day. The company has a presence in more than 100 countries with approximately 21,000 employees worldwide. Visit for more information. X: @DieboldNixdorf LinkedIn: Facebook: DN-B View original content to download multimedia: SOURCE Diebold Nixdorf, Incorporated
Arabian Post
03-07-2025
- Business
- Arabian Post
GCC Equities Gain as Ceasefire and Fed Hopes Boost Confidence
Gulf Cooperation Council stock markets rallied in June, with the S&P GCC Composite Index climbing 3 % on easing Middle Eastern tensions and growing expectations of US interest rate cuts. Investor sentiment strengthened across the region, led by notable gains in Kuwait and Dubai. Kuwait's All Share Index recorded a 4.2 % rise in June, lifting its year‑to‑date performance to 14.8 %. The consumer‑staples and real‑estate sectors led the charge, posting increases of 9.1 % and 7.7 % respectively. The banking sector was also buoyant: Kuwait International Bank gained 15.9 % while Burgan Bank rose 8.7 %, following substantial share acquisitions by insiders. Warba Bank and Gulf Bank climbed 8.5 % and 7.2 %, respectively, as merger talks gained traction. Dubai's equity market rose approximately 4.1 % over the month. Dubai Islamic Bank and toll operations firm Salik were strong performers, with the former up 4.9 % and the latter rising 2.2 % when the UAE market hit a 17‑year high. Abu Dhabi's index also gained, with Islamic Bank and Aldar Properties climbing 12.1 % and 7.3 %, respectively. ADVERTISEMENT Saudi Arabia's Tadawul index rose 1.6 % during the month. Al Rajhi Bank and Riyad Bank were key contributors, and the International Monetary Fund upgraded Saudi's GDP growth forecast to 3.5 % for 2025, citing robust demand for government-led projects. Qatar's index increased by around 0.8 %, driven by a 1.2 % rise in Qatar National Bank. Markets surged as a ceasefire between Israel and Iran reduced regional geopolitical risk. Most GCC benchmarks reverted to pre-conflict levels by the end of June, while oil prices remained steady following the truce. Dubai's index in particular reached a 17‑year high on the back of this stability. Buoyant global trends added further support. The prospect of US rate cuts, raised amid dovish signals from Federal Reserve policymakers and cooling inflation indicators, boosted risk appetite in emerging markets. Wall Street's S&P 500 neared record highs during the same period, underpinning regional investor confidence. Sector rotation within the Gulf saw strong performances. Kuwaiti consumer staples and real estate led regional returns, while in Saudi, banking stocks remained upward, supported by IMF optimism. UAE financials and tolls also flourished as global capital flowed into yield-bearing assets. However, oil market dynamics and monetary policy divergence posed selective risks. Although crude prices rebounded, volatility remains a factor for oil-linked economies. Meanwhile, divergence between global central banks—especially between the US Fed and ECB—has put pressure on regional currency pegs, influencing capital flows. Investor strategies appear focused on defensive yet yield-enhancing sectors amid cautious optimism. Data from Markaz, Kuwait's financial centre, shows strong interest across consumer staples, real estate, and banking, with insider share acquisitions reinforcing positive trader sentiment. Emerging trend analysis suggests GCC markets are increasingly appealing as geopolitical risk diminishes and global liquidity tilts toward accommodative central bank policy. The IMF's upgraded growth forecasts, particularly in Saudi, and policy divergence supporting higher yields in the Gulf, are luring foreign capital. Looking ahead, attention will turn to sustainability of the ceasefire, future Fed decisions on policy easing, and crude price movements. GCC markets remain sensitive to developments in US monetary policy and Middle Eastern stability, with any deterioration potentially reversing the current momentum.
