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Bahrain: NBK-Bahrain reports net profits of BHD 118 million (equivalent to KWD 95.2 million) for 2018, up 26% y-o-y


National Bank of Kuwait-Bahrain (NBK Bahrain), , reported net profits of BHD 118 million(equivalent to KWD 95.2 million) for the year 2018 compared with BHD  93.5 million(equivalent to KWD 75.3 million) in 2017, a growth of 26% year-on-year.

As of end of 2018, NBK-Bahrain’s total assets increased by 9% y-o-y to BHD 6.3 billion, compared with BHD 5.8 billion in 2017. While total shareholders’ equity increased by 14% y-o-y to BHD 683.3 million.

Customer deposits increased by 7% y-o-y to BHD 3.2 billion
Isam Al-Sager, NBK Group Chief Executive Officer said “The Bank’s strong results affirm the success of NBK Group’s regional expansion strategy that is built on a culture of prudence and strict risk management practices.”
Al-Sager pointed out that the strength of NBK-Bahrain’s profits stems primarily from being operationally.

Al-Sager added: “the strong growth achieved by NBK-Bahrain is a testament to the success of its vision aimed at affirming its position in the Bahraini market, which is one of the main growth markets for NBK Group, given its promising growth opportunities and positive prospects”.

 “Our diversification extends to the product and service offering, growth in existing geographies, our approach to new business opportunities, and our commitment to a digital transformation that will position the Bank for future growth.” Al-Sager added

Ali Fardan, NBK-Bahrain General Manager, said “This strong performance reflects our conservative management as we have consistently focused on our core business and ways to diversify sources of income. We continue to grow our operations locally by developing new products to serve our customers benefiting from the support of NBK Group.”

NBK has been present in Bahrain since 1977 and enjoys strong and historical relationships with the major Bahraini and international companies. Al Fardan added.

NBK continues to enjoy collectively one of the highest ratings among all banks in the Middle East from the three international rating agencies Moody’s, Fitch Ratings and Standard and Poor’s.

The Bank’s ratings are supported by its high capitalization, prudent lending policies, and its disciplined approach to risk management, in addition to its highly recognized and very stable management team.

NBK was also named among Global Finance’s list of the 50 safest banks in the world for the twelve consecutive times and was awarded as the Best Bank in Kuwait in 2017 by the Banker, Euromoney and Global Finance.
NBK enjoys the widest banking presence with a local and international network reaching 4 continents. NBK’s international presence spans many of the world’s leading financial centers including New York, Europe, GCC, Middle East, Singapore as well as China (Shanghai).

Bahrain: NBK Rewards Program Named “Fastest Growing Credit Card Rewards Program in Bahrain for 2023”


National Bank of Kuwait - Bahrain (NBK) has won “Fastest Growing Credit Card Rewards Program in Bahrain for the Year 2023”, for the NBK Rewards Program. The program is presented by blu AI™, the leading provider of customer loyalty and customer engagement solutions in Bahrain and Middle East.

The NBK Rewards Program was nominated based on several principles and criteria, mainly the customer base growth rate to register and get activated in the Rewards Program upon receiving the NBK Credit Card and benefiting from the various categories available for redeeming points, such as cash back, travel packages, purchase vouchers, Falconflyer travel miles from Gulf Air, and many more.

National Bank of Kuwait - Bahrain launched the NBK Rewards Program in 2021, which has contributed since to encouraging the use of NBK Credit Cards inside and outside Bahrain. It is a permanent free program that allows customers, when using their Credit Cards while shopping, to earn points on every purchase starting at BHD 1. The points can later be redeemed for other purchases or cashback at participating outlets. Points are accrued and then redeemed through the NBK Rewards Program.

The General Manager of National Bank of Kuwait-Bahrain, Mr. Ali Fardan, expressed his great happiness to receive this award, which came as a confirmation of its success and the extent of customers’ satisfaction with the provided benefits. Mr. Fardan expressed his pride in the partnership with blu AI™, which is witnessing rapid growth in the region and beyond along with a remarkable progress in the number of financial institutions and other commercial enterprises with international brands that have joined it.

For his part, CEO of blu AI™, Mr. Tony Gougassian, expressed: We are pleased to grant National Bank of Kuwait - Bahrain this award and we are proud of this partnership with one of the largest credit card service providers in Bahrain, which has a pioneering vision for excellence and to continue cooperation to develop the features of this program to remain the leader in the field. Loyalty and rewards programs on global standards.

It is worth mentioning that the NBK Rewards Program includes two different categories of cards, and each category determines its own exclusive offers that the customer receives, which are: the NBK Visa Signature Credit Card category and the NBK Visa Platinum Credit Card category. Customers who hold both categories can earn points through all local and international stores and all points of sale and electronic shopping, and they can also transfer points to any other member of the program.