Kuwait: NBK Celebrates the Graduation of 5 Cohorts of “Moody’s Credit Curriculum Program”26.01.2019
The National Bank of Kuwait (NBK) celebrated the graduation of 5 Cohorts of the “Moody's Credit Curriculum Program”, which was designed and organized in partnership with the international credit rating agency, Moody's Analytics.
The ceremony was attended by Mr. Salah Y. Al-Fulaij, Chief Executive Officer – Kuwait, Mr. Sulaiman Al-Marzouq, Deputy CEO - Kuwait, Mr. Emad Al-Ablani General Manager of Group Human Resources and senior representatives from the Bank.
The Moody's Credit Curriculum program extended over a year and a half, and introduced an array of topics including banking services, financial analysis, risk management, structure risk, credit challenges, financing, and problem credits.
Congratulating the newly certified employees, Emad Al-Ablani said: “NBK has adopted a strategy that aims to invest in its employees’ skillset and capitalize on their potential in order to reach the highest levels of professionalism in the industry. Our ultimate goal is to provide them with the best employee value proposition and corporate experience. Indeed, the Bank aims to maintain its position as a leader in the market and our human capital is the main pillar and driver of our success”.
Moody's is one of the best and oldest financial corporations specializing in economic research, financial analysis and evaluation of private and government institutions in terms of strength, financial position and creditworthiness.
Kuwait: NBK reports 1Q 2019 net profit of KD 107.7 million, growing by 15.1%15.04.2019
Kuwait City, Kuwait, 14 April 2019: The National Bank of Kuwait (“NBK”, the “Bank” or the “Group”) has announced its financial results for the first quarter of 2019. NBK reported a net profit of KD 107.7 million (USD 354.1 million), which increased by 15.1% on the first quarter of 2018, with total assets increasing by 2.4% year on year to reach KD 27.4 billion (USD 90.1 billion).
Commenting on the results, NBK Group Chairman, Nasser Al-Sayer, said:
"NBK's strong results in the first quarter of 2019 are a continuation of the Bank's robust performance, which reflects the success of the Group's strategy to consolidate our leading position in the domestic market while continuing to expand the scope of our international operations to further diversify the Group's profit streams and ensure continued future growth.
NBK’s performance in the first quarter of 2019 confirms the solid financial fundamentals of the Group and its ability to generate revenues from core banking activities. Net operating income increased by 5.7% year-on-year to KD 225.6 million (USD 741.5 million), with growth recorded across almost all business lines.
The domestic operating environment is promising as the government continues with its development plan, thus increased capital spending.
Kuwait’s fiscal position is better than peers given the substantial buffers and strong sovereign ratings; creating room for acceleration in spending despite volatile oil prices and the expected slower growth rates globally.
Furthermore, NBK remains committed to support and finance development projects under Kuwait’s 2035 vision. We aspire to remain the leaders for mega projects financing and play our role in supporting the prosperity of the national economy.”
NBK Group CEO, Isam Al-Sager, commented:
“We are very proud of the strong financial results reported for the first three months of 2019 as it reflects the success of our diversification strategy and leadership of the Kuwaiti banking sector. Our strategy was further bolstered through the Bank's Islamic banking arm, Boubyan Bank, which continues to contribute positively to the Group’s bottom line and supports the maintenance of a dominant share in the local market.
The strong growth in financial results coincides with NBK's strategy of maintaining asset quality and maximizing the value to shareholders. This is clearly reflected by the improvement in our profitability indicators; where the return on average assets reached 1.59% compared to 1.44% in the first quarter of 2018, while the return on average equity reached 14.5% against 13.2% in the first quarter of 2018.
Moreover, the Bank continued to maintain high levels of capital, with capital adequacy ratio reaching 16.9% as of end of March 2019; exceeding the minimum regulatory requirements.
We aim to better utilize our international operations with an aspiration to further increase its contribution to the Group’s profits. In the first quarter of 2019, our international operations contribution to total Group’s profits reached 25%. In Egypt, we continue to focus on increasing our market share in the retail sector, relying on the transfer of our expertise in providing leading technological solutions to the region's largest market in terms of population; while in KSA, we will seek to grow the client-base and AuMs of our recently launched NBK Wealth Management Company.
In France, NBK’s Paris office was converted into a full subsidiary as a conservative and long-term positioning no matter how Brexit ends up. This will guarantee the Bank’s ability to continue serving clients with business ties within Europe and MENA.
Our diversification strategy is not only limited to our geographical presence, it focuses also on diversifying our products and services offered to our clients. The Bank is investing in implementing the digital transformation strategy via various initiatives that includes all the activities and markets in which we operate. This has already helped us achieve our long-term goals, ensuring that we maintain our leadership and provide the best banking services” Al-Sager concluded.
France: NBK – France is our new banking arm in Europe24.03.2019
National Bank of Kuwait (NBK) successfully established NBK France SA after completing all procedures required to convert NBK (International) PLC in Paris into a full subsidiary, as the bank continues to expand its global footprint, especially in the European market through its presence in France, the second largest economy in Europe and the sixth largest economy in the world.
This important step is part of NBK's strategy to strengthen its presence in core markets in line with its strategy aimed to diversify income sources and increase the contribution of international operations to the Group's net profits which jumped to 30.4% in 2018 compared to 29.4% in 2017. International Banking Group’s (IBG) total assets increased by 7.5% year-on-year, reaching KWD 9.8 billion by the end of the year.
“The conversion of NBK (International) PLC in France to a full branch is a major milestone in the bank’s contingency plan to maintain our leadership in the European market no-matter how Brexit ends up”. NBK’s Deputy GCEO Ms. Shaikha Al Bahar said.
Al-Bahar highlighted that the new subsidiary provides access to the European Union (EU) member countries through passporting rights, thus taking over the role performed by NBK London in the event of Brexit.
‘NBK France SA will continue to pursue the Group's strategy to expand in EU markets and focus on supporting trade between Europe and the MENA region, as well as performing its role in providing banking services to NBK clients in Europe. It will also focus on reinforcing relations with European companies that work in Kuwait or intend to further extend their activities in the region”. Al-Bahar added.
Moreover, Al-Bahar highlighted NBK’s focus on offering both residential and commercial real estate financing facilities, as well as other real estate related services in the French market, expressing its importance as a key destination for real estate investments as it attracts great interests from Kuwaiti and GCC investors due to the great opportunities it provides.
International Banking Group (IBG) continues to capitalize on extending our product and service offering through reaching NBK customers in the various geographies that we operate in.
NBK has the widest international presence in four continents, with operations in 15 countries, 3 of which are in Europe, namely; the UK, France and Switzerland.
KSA: NBK meets Governor of Riyadh, Prince Faisal bin Bandar24.03.2019
A delegation from National Bank of Kuwait (NBK) met with Prince Faisal bin Bandar bin Abdulaziz, Governor of Riyadh province at his office in the Royal Palace to discuss a number of topics related to investment and business.
The meeting was attended by NBK senior executives; Isam Jassim Al-Sager - Group Chief Executive Officer at National Bank of Kuwait, Faisal Al-Hamad, CEO, NBK Capital, Malek Khalife. Head of Global Private Banking, and Musaad Al-Sudairy, CEO, NBK Wealth Management.
"Saudi Arabia is a market that carries a wealth of opportunities that are aligned with NBK Group's expansion strategy, focused on seizing regional investment opportunities," said Mr. Issam Jassim Al-Sager, Group CEO, noting that the Kingdom is undergoing a major economic transformation that will help in positioning it as an attractive business investment environment across various key sectors for global participant.
Al-Sager added that the Saudi market is a cornerstone in the Group’s regional expanding strategy, as we expanded our presence through launching 3 new branches in Riyadh, Jeddah and Damam. We also entered Saudi Arabia’s wealth management market, through the launch of Al Watani Wealth Management Company, as it has already finalized hiring staff and started to attract Assets Under Management (AUM).
He also highlighted that NBK will continue to focus on growing its client base and expanding it AUM in Saudi Arabi through Al-Watani Wealth Management Company, which aims to leave a distinguished footprint in the Saudi Capital Market, in line with the Kingdom's “Vision 2030” and CMA's "Financial Leadership 2020" program aimed at stimulating investments, actively contributing to raising the attractiveness and efficiency of the financial market and enhancing its competitiveness on the regional and international fronts.
Last year, Al-Watani Wealth Management acquired CMA's license to operate in the Saudi capital market after fulfilling all the requirements and conditions to conduct Dealing as Principal, Investment Fund Management, Discretionary Portfolio Management, Arranging, Advising and Custody activities in the securities business.
Kuwait: NBK Celebrates Outstanding Employees of 2018 During Elite Awards Annual Ceremony14.03.2019
National Bank of Kuwait held its annual Elite Awards ceremony honoring outstanding employees in the Consumer Banking Group (CBG) in recognition for their efforts during 2018. The ceremony was held at Arraya Ballroom- Courtyard Marriott hotel and attended by leaders of the Bank, Mr. Isam Jassim Al-Sager, NBK Group Chief Executive Officer, Ms. Shaikha Al Bahar, NBK Deputy Group CEO, Mr. Salah Al-Fulaij, NBK Chief Executive Officer-Kuwait, Mr. Sulaiman Al-Marzouk, Deputy Chief Executive Officer-Kuwait, Mr. Mohammed Al Othman, General Manager of Consumer Banking Group, Mr. Emad Al-Ablani, Group General Manager-Human Resources, and Ms. Hanadi Khazal, Chief Marketing Officer, National Bank of Kuwait.
The ceremony recognized the efforts and achievements of CBG employees for 2018, and included entertaining segments.
Speaking of the annual ceremony, Mr. Mohammed Al Othman, General Manager of Consumer Banking Group, said, “The Elite Awards ceremony is one of the significant events organized by NBK annually to honor our employees for their exceptional efforts and performance during the year.
“NBK’s employees are an example of efficiency and progress, and we are committed to investing in their capabilities and careers, which in turn supports our leadership position and the quality services and products we offer to our customers.”
During the ceremony, Al Othman congratulated the employees on their excellent achievements which reflected on the new services and products launched by NBK during the year, notably on NBK Online Banking and NBK Mobile Banking App, providing customers with a faster and more convenient services while maintaining the highest standards of quality and security, as well as always exceeding customers’ expectations.
On her part, Ms. Hanadi Khazal, Chief Marketing Officer, National Bank of Kuwait, said, “We are committed to this annual event to honor those who have played a crucial role in providing the best customer service. We focus on attracting talented professionals and helping them grow opportunities that express their promising potential.”
Khazal pointed out that the positive work environment at NBK and the culture of motivation encourage employees to give their best service. The results were clear with the launch of many services and campaigns during the past year, which have all gained the satisfaction of customers.
Khazal congratulated employees who were honored and stressed that the talents working at NBK helped in launching leading products, and affirmed that the bank will launch unique campaigns and services this year that will continue to meet the needs of every banking segment.
Mr. Hisham Al-Nusf, Assistant General Manager of Consumer Banking Group, added: "NBK employees look forward to this event every year as a reward to their performance and stimulator towards excellency, this will help in maintaining NBK's leadership position in the banking sector in Kuwait.”
NBK's Consumer Banking Group launched and updated many services and products during 2018, including 14 new services and updates on the NBK Mobile Banking App such as the NBK Swift Tracking which allows customers to track their money transfers conveniently anytime, anywhere, and the e-Payments Service to make electronic payments for purchases at a large number of local and international companies such as telecoms, retail facilities, entertainment and more.
NBK also launched the NBK Quick Pay, providing customers with an easy way to receive or transfer amounts from and to friends, or make payments for bills immediately even on weekends or public holidays. And for the first time in Kuwait, NBK enabled its customers to activate their dormant accounts instantly and at their convenience. This is done by logging in to the NBK Mobile Banking App and selecting the “Dormant Account Activation” feature under “Self Services”.
Customers can also update their phone number or email address through the NBK Mobile Banking App saving the trip to the branch.
The NBK Mobile Banking App is a safe method to manage accounts. Customers can conveniently open a new account, view transactions made on accounts and credit cards, check their NBK Miles Points and NBK Rewards Program Points, pay outstanding credit cards receivables, pay bills online, find the nearest branch, ATM or CDM in Kuwait, as well as submit an account statement request, checkbook and other requests.
Always innovating for its customers, NBK also ensured it stays in touch with customers through live Video Chat with service agents, while also launching the NBK SelfiePay through which customers can authenticate their online transactions by a simple face or fingerprint recognition.
In addition to these services, NBK has made new enhancements to ATMs and CDMs for customers to enjoy cardless withdrawals using Civil ID or mobile phone number, and use the NBK Tap & Pay debit card or any NFC-enabled debit card to withdraw or deposit money with only a tap and without inserting their card in the machine.
The bank was also the first to launch the NBK Direct Remit using RippleNet’s Blockchain technology, to deliver fast cross-border transfers to customers. NBK's direct transfer service is completed in record time and is available to all customers 24 hours a day, 7 days a week.
Kuwait: NBK’s AGM was held yesterday with a 79.97% quorum and approved all BOD’s proposals10.03.2019
NBK’s Chairman Mr. Nasser Al-Sayer affirmed that “NBK Group has achieved strong performance across all business segments in 2018. Such strong results reflect the success of the bank’s strategy aimed to expand its international operations and increase their contribution to the Group's profits, in line with NBK’s keenness to affirm its leadership in the local market”.
This was part of Al-Sayer’s message at NBK’s Ordinary (AGM) and Extraordinary (EGM) General Assembly meeting for 2018 that was held today (Saturday. 9 March 2019), at which there was a quorum of 79.97 %. The AGM and EGM approved the Board of Directors’ recommendation to distribute 35% cash dividend to shareholders (equivalent to 35 fils per share) and the distribution of 5% bonus shares (5 shares for every 100 shares owned).
Al-Sayer added that NBK continued its strong financial performance in 2018, achieving a record annual net profit of KD 371 million compared to KD 322 million in 2017, a growth of 15% y-o-y.
Al-Sayer said that NBK has made significant progress in its pursuit of the diversification strategy. He added that the strategy is not limited to the Bank's products and services but extends to expanding its operations in all the markets it operates as its continuously seeks more opportunities, in addition to committing to digital transformation, which will enable the Group to continue its growth in the future.
Al-Sayer also assured the role that NBK plays in supporting economic growth and the agenda of ‘New Kuwait 2035’, stating that NBK is the no.1 bank for financing public and private projects, a status that it intends to maintain.
As global oil prices improved in the first half of last year, it gave a major boost to GCC sovereign balance sheets – with improved fiscal positions, although these were somewhat dented by bearish market conditions later in the year. He confirmed the strength of the Kuwaiti economy despite fluctuations in oil prices and this is borne out by the strong sovereign credit ratings that it has maintained, adding that further reforms are still required to boost longer-term growth potential.
NBK’s Group CEO Mr. Isam Al-Sager said that “NBK continued its strong performance during 2018 achieving record net profits. The solid results reflect the Bank’s solid financial performance and the soundness of its risk-mitigation strategy through diversifying its sources of income and expanding into new geographies, while maintaining competitive advantage in the local market by providing conventional and Islamic banking services through our subsidiary Boubyan Bank”.
He highlighted that NBK maintained a conservative approach to risk mitigation, reflected in the confirmation of strong long-term credit ratings. The Bank’s robust asset quality metrics held steady, with the NPL/gross loans ratio at 1.38% and an NPL coverage ratio of 228.1%. The Group maintained a high level of capitalization, with a capital adequacy ratio of 17.2% as of the end of 2018, comfortably in excess of the Central Bank of Kuwait’s requirement.
He highlighted the growth of NBK’s balance sheet in 2018, with total assets increasing by 5.4% to reach KD 27.4 billion, whereas shareholders’ equity was up by 3.3% y-o-y, as it stood at KD 2.95 billion. Customer loans and advances increased by 6.9% to KD 15.5 billion, while customer deposits increased by 4.4% to reach KD 14.4 billion.
Al-Sager added: “NBK managed to maintain high profitability as it constituted 38% of the aggregate profits reported by the banking sector in Kuwait, which is a testament to the strength of our leading position in the local market”.
Al-Sager stressed that NBK's has a leading and prominent position in the Kuwaiti market based on solid fundamentals reflected by the strength of all financial indicators and large balance sheet.
Al-Sager mentioned that a core component of the diversification theme in 2018 was the considerable effort made by the Bank towards its digital transformation. The programme is cross-segment and cross-geography, impacting internal processes and systems as well as the experience and opportunities of our customers. He highlighted that the successful efforts in that regard positioned the bank for the next generation in digital banking services.
He also pointed out to NBK’s Key role in supporting Kuwait’s economic growth as it is the no.1 bank for financing mega public projects, besides that, the Bank’s strategy is aligned with the objectives outlined in the government’s development plan ‘New Kuwait 2035’.
Al-Sager concluded: “Our primary objective is to deliver superior returns to shareholders, which we will achieve by defending our leadership of core businesses, maintaining our dominant share of the domestic Kuwaiti market, achieving growth in target segments and exploiting our international presence”.
The Bank of the Future
Commenting on NBK’s solid performance throughout 2018, NBK’s Deputy GCEO Ms. Shaikha Al Bahar said: “What we achieved in 2018 makes it a special year across the board. We successfully managed to develop a road map to attain our strategic objective to be the bank of the future, thus maintain our leadership both locally and internationally. That was made possible through the successful implementation of our digital transformation strategy, which in turn, reflected throughout all our activities and services, in addition to exponentially growing our international operations across all markets we operate in”.
These successes were clearly reflected in the Group's performance in 2018 with operating profit growing by 8.9% to KD 606.9 million, noting that the increase in profit was driven by growth in financing activities, growth in income from fees and commissions, and the effective cost management policies resulted in a cost-to-income ratio of 31.3%.
Expanded Global Footprint
Al-Bahar reflected on the expansion of NBK Group’s international banking operations in 2018, as it accounted for 30.4% of the Group’s net profit, increasing from a contribution of 29.4% in 2017. She highlighted the importance of NBK’s international operations, stressing that: “The growth of international operations is a key factor in maintaining NBK's leadership. International operations are not limited only to geographic expansion but also increase the Bank's ability to provide a wider range of unique services that sets us apart from our competitors”.
“Our focus on expanding NBK’s international operation in 2018 was mainly focused on the Egyptian market which constitutes about one third of our international banking group’s profits, as we provided a wider range of unique services that differentiate the Bank from other competitors. This year in Egypt, a strong emphasis was placed on building the quality and reach of the Consumer Banking business, to diversify in terms of both income and operations”, Al-Bahar added.
She pointed out that NBK managed to affirm its position, as it injected more investments through increasing its branches in the Kingdom, and the launch of Al Watani Wealth Management business, as it managed to finalize hiring staff and started to attract assets under management. This is a huge milestone which supports NBK Capital in its broader objective to become the Group’s investment product design platform, product manager and asset manager for clients in Kuwait and the region.
As for the Bank’s operations in Europe, Al-Bahar pointed out that NBK’s Paris office was converted into a full subsidiary as a conservative and long-term positioning no-matter how Brexit ends up.
Speaking on the Group’s investment in technology and innovation, Al-Bahar confirmed that NBK has made considerable strides in 2018, in line with NBK’s ongoing efforts to implement its comprehensive digital transformation strategy which covers all the activities and markets it operates in, as well as internal work systems and operations. This is an important driver for the growth of our digital offering, and an essential step towards maximizing coverage and improving the banking experience.
“The most important achievement of 2018 was the completion of NBK’s Digital Roadmap, which is focused on building a “digital mindset” for the Bank, to support our effort towards offering our customers the most innovative products and services.” Al-Bahar stated.
Al-Bahar mentioned that the digital transformation strategy aims at developing mobile and internet banking services. New features launched in 2018 included upgraded mobile banking, video chat through mobile and online banking, selfie-pay and a host of ATM enhancements.
Meanwhile, NBK-Kuwait CEO, Mr. Salah Al Fulaij said: “NBK had a great performance in 2018 despite challenging business environment in the local and regional markets, in addition to the oil market volatility throughout the year”.
Al-Fulaij affirmed that NBK continued to consolidate its leadership through its participation in the largest financing deals across various key sectors in Kuwait. The priority was to confirm the bank's leadership in the local market, as we managed to have 25% of the market.
Al-Fulaij highlighted the key transaction that NBK participated in which included participation in a KD 390 million term loan for KIPIC, of which NBK accounted for 35%, i.e. KD 140 million. NBK also provided a USD 500 million credit facility in the international commercial finance tranche of Duqm Refinery in Oman, in which NBK also acted as the credit facility agent for the USD 1.43 billion international trade financing segment provided to the refinery.
He pointed out that the above mentioned mega deals were alongside a series of other smaller deals for the KPC group of companies, with whom the Bank has a close relationship, as the ‘house bank’ for KPC and its subsidiaries.
“The Group’s main objectives are to act as the primary banker for leading local companies and to remain the bank of choice for foreign companies, continuing to serve at least 75% of them locally. It also aims to maintain a Trade Finance market share of over 30%. In achieving the above, we continue to offer a wide range of services, expanding our coverage and broadening the range of products we offer”, Al-Fulaij said.
Al-Fulaij confirmed that NBK has been at the forefront of promoting digital transformation, stating that in recognition of its leadership in digital banking products, Global Finance presented three awards to NBK, including Best in Mobile Banking (Consumer, Kuwait), Best Consumer Digital Bank (Kuwait) and Best Mobile Banking App (Consumer, Kuwait).
That prominent position was a result of introducing new services and unique enhancements in 2018 in NBK Mobile banking offerings such as an easy registration process, e-payment services for various services in the education, telecom, entertainment sectors.
Al-Fulaij pointed out that the excellence of the services provided by the bank is supported by the key role played by our human capital. Currently, NBK employs over 6,000 employees from 53 different nationalities across four continents around the world. We are also proud of having a 45% female employees representation within the Group, which is a remarkable achievement in the banking sector and the regional labor market.
Al-Fulaij concluded by saying that NBK is the biggest contributor to CSR, as it is at the forefront of private sector organizations when it comes to dedications of environmental, social and economic initiatives and programs, including NBK’s ongoing and direct investment in NBK Children’s Hospital, which houses a Stem Cell Therapy Unit along with Pediatric Hematology and Oncology facilities, in addition to NBK awareness campaigns covering a wide range of health, environmental, cultural, mother and child initiatives.
Kuwait: NBK Wins “Best Bank in Liquidity Management Middle East” and “Best Treasury and Cash Management in Kuwait” Awards by Global Finance for 201906.03.2019
In its annual survey which gathers the opinion of hundreds of established financial experts, analysts, senior consultancy and executives from around the world, Global Finance Magazine awarded the National Bank of Kuwait (NBK) two new awards for the year 2019, the first is the “Best Bank for Liquidity Management Middle East and North Africa” and the second is “Best Treasury and Cash Management in Kuwait”.
Global Finance Magazine rates the best providers in treasury and cash management based on a variety of criteria that comprise profitability, market share, customer service, competitive pricing, innovative products and the level to which these institutions exceed their competitors in terms of providing treasury and cash management services.
The Magazine then announces the winners in the four sub-categories in 65 countries and seven geographic regions across the world, covering Africa, Asia and the Pacific, Central and Eastern Europe, Latin America, the Middle East, the North Region, North America and Western Europe.
The awards ceremony will be held on the sidelines of the International Banking Operations Seminar, SIBOS 2019, which will be hosted in London in September.
Headquartered in New York, Global Finance was founded in 1987 and has over 50,000 readers from 188 countries. Global Finance’s audience includes Chairmen, Presidents, CEOs, CFOs, Treasurers and other senior financial officers responsible for making investment and strategic business decisions at multinational companies and financial institutions.
Each year, Global Finance selects the best financial institutions in a thorough survey around the world. These awards have become a recognized and trusted standard of excellence, regionally and internationally.
NBK maintains the highest credit ratings among banks in the Middle East, receiving leading ratings from leading agencies such as Moody's, Fitch and Standard & Poor's. NBK has a strong capitalization and prudent lending policies, a systematic approach to asset management, and a stable management.
NBK is also ranked among the 50 safest banks in the world for the 13th consecutive year, and has been awarded the “Best Bank in Kuwait” by The Banker, Euromoney and Global Finance in 2018.
Egypt: NBK – Egypt achieves EGP 2.002 billion (KD 34.2 million) in net profits for FY201828.02.2019
NBK-Egypt - a member of NBK Group – reported EGP 2.002 billion (equivalent to KD 34.2 million) in net profits for FY2018 up 33.22% compared to EGP 1.503 billion (equivalent to KD 26 million) for FY2017.
Total assets reached EGP 73.50 billion as of the end of 2018 up 24.56% compared to EGP 59.01 billion at the end of 2017. Total customers deposits grew by 30.11% for the year to reach EGP 53.16 billion, compared to EGP 40.86 billion by the end of 2017. While customer loans and facilities to customers reached EGP 38.64 billion as of end FY2018, growing by 13.95% year-on-year, compared to EGP 33.91 billion in 2017.
Isam Jassim Al-Sager, NBK’s Group Chief Executive Officer and NBK-Egypt Chairman said that the strong growth achieved by NBK-Egypt is a testament to the success of its vision aimed at affirming its position in the Egyptian market, which is one of the main growth markets for NBK Group, given its promising growth opportunities and positive prospects.
Mr. Al-Sager pointed out that the strength of NBK-Egypt’s profits stems primarily from being operationally driven by improved business environment, reflecting the stability of the economic scene in Egypt.
He indicated that this stability will create new investment and financing opportunities for the bank, which in turn will contribute to improving the level of product integration between NBK-Egypt and the Group, thus strengthening its position in the Egyptian market.
Al-Sager confirmed that NBK Group's investments in Egypt are of strategic and long-term nature. NBK-Egypt is considered one of the most important branches for the Group as the branch provides almost third of the profits attributed to international branches, reflecting NBK Group’s confidence in the Egyptian market and its desire to further expand its presence as part of the Egyptian banking sector.
Meanwhile, Managing Director of NBK-Egypt, Dr. Yasser Hasan highlighted the bank’s continuous growth and solid performance across all financial indicators driven by its conservative strategy as part of NBK Group and its business model based on the diversification of its income and credit portfolio while offering flexible financing solutions and providing innovative financial products at the same time to cater to its customers actual needs derived through detailed in-depth market studies. This is in addition to the bank's solid financial position, strong balance sheets and stable management.
Dr. Hasan added that most of NBK-Egypt’s profits are driven by corporate credit services, with a highly diversified portfolio drawing on the diversification of the Egyptian economy itself. He also highlighted that NBK strives to strengthen its position in retail banking as well over the coming period and that it has made huge strides in presenting innovative services and products to its retail clients to fulfill the needs and requirements of various segments.
He further added that NBK-Egypt has a wide network of 50 branches spread over premium locations in various Egyptian governorates and cities including: Cairo, Giza, Alexandria, Delta, Sinai, Red Sea and Upper Egypt, in addition to the industrial zones in 6th of October and 10th of Ramadan cities. The bank is also privileged to be among the elite banks within the Egyptian market that hold an Islamic banking license in addition to its conventional licensing.
It has two Islamic branches, one in Cairo and the other in Alexandria, thus enabling the bank to offer a comprehensive selection of Sharia compliant products and services in addition to its traditional offerings. Moreover, NBK- Egypt also provides a range of e-services, and aims to heavily invest in such technologies to expand its footprint and provide its clients with unique banking experiences that allow them to execute many of their banking transactions anywhere anytime without having to visit the branch.
National Bank of Kuwait was incorporated in 1952 as the first local bank and the first shareholding company in Kuwait and the Gulf region. 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 strong financial indicators, asset quality, high capitalization in addition to its highly recognized and very stable management team, as well as and its disciplined approach to risk management and prudent lending policies. NBK was also named among Global Finance’s list of the 50 safest banks in the world for the thirteenth consecutive time.
NBK enjoys the widest banking presence with a local and international network exceeding over 150 branches and subsidiaries reaching 4 continents. NBK’s international presence spans many of the world’s leading financial centers including the United States of America, Europe, GCC, Middle East, China as well as Singapore.
Kuwait: NBK implement a Collective Executive Development Program with INSEAD21.02.2019
The National Bank of Kuwait (NBK) partnered with one of the leading international business schools, INSEAD, in an intensive training program specifically designed for the Bank’s executive management team.
Since the banking industry worldwide is facing significant challenges. Digital disruption and FinTechs challenge existing banking models. Digital has fundamentally changed our lives. Adapting to the ongoing digitization of the economy, and of society in general, is arguably the most challenging transformation every business is currently facing. Due to competition from local and regional players, strategies are reassessed in various parts of the world (GCC, ASEAN, LATAM, EU).
In this turbulent world, there is an imperative need to assess the situation, to identify key-strategic actions, and to further develop senior banking executives in terms of organizational and personal skills related to related to digital strategy, customer-centric strategies, leadership, strategy execution and management of change.
National Bank of Kuwait - INSEAD program - Creating Value in a Fast Changing Banking World has two main objectives. First, a discussion of the fast changing banking world, including digital disruption with identification by NBK senior executives of key-strategic actions to undertake. Second, the further development of senior NBK executives to lead the strategy execution and changes, both in terms of personal and organizational skills
During the program, Mr. Isam J. Al-Sager, Group Chief Executive Officer, Ms. Shaikha K. Al-Bahar, Deputy Group Chief Executive Officer and Mr. Salah Y. Al-Fulaij, Chief Executive Officer – Kuwait visited the participants.
Mr. Emad Al-Ablani, said, “This program adds new value in the changing banking industry as it provides essential training led by a prestigious educational institution, INSEAD. The program aims to highlight the challenges facing our industry in a digital transformation era and comes in line with our strategy at NBK to ensure our human capital is well equipped to deliver efficient solutions in our digital transformation journey.”
Mr. Al Ablani added that NBK is proud to provide the best training opportunities for the employees and the executive managers in cooperation with the world's leading institutions and universities, enabling them to acquire new skills and knowledge at par with their global peers.
Mr. Al-Ablani also mentioned: “NBK provides a unique environment for training and developing employees to enhance their skills, foster a culture of self-development and recognize their career growth on the long term.”
INSEAD is one of the world's leading and largest graduate business schools, It offers participants a truly global educational experience. With campuses in Europe (France), Asia (Singapore) and Middle East (Abu Dhabi), In addition, more than 11,000 executives participate in INSEAD's executive education programs each year.
Kuwait: NBK Sponsors Second Annual “ECOH” Conference on Blockchain Technology20.02.2019
National Bank of Kuwait sponsored the second annual “ECOH” Conference which held discussions about the Blockchain technology and focused on the significance of this emerging technology and its growing use in business sectors.
Organized by East Chain Co., the Conference took place from the 30th to the 31st of January, and hosted professionals and entrepreneurs from around the world. Discussions explored the opportunities and possibilities that are presented by the technology and aimed to educate participants about its latest advancements and challenges. The Business Banking unit at NBK extended an invitation to its customers to take part in the panel discussions.
The Business Banking team was present at the Conference to respond to customers’ queries as part of the Bank’s commitment to supporting small and medium enterprises and Kuwaiti entrepreneurs.
The ECOH Conference also shed light on the Blockchain technology’s ecosystem and how it supports and reimagines financial services. The discussions also tapped into the regulatory framework that is required to help companies prepare to take advantage of the technology.
Speaking of NBK’s participation at the Conference, Mohammed Akram Hashim, Head of Segments, Consumer Banking Group, National Bank of Kuwait, said: “We are delighted to be the sponsor of the second “ECOH” Conference, supporting its goals of raising awareness about Blockchain technology and how it complements various business sectors.
NBK was the first bank in Kuwait to launch the cross-border remittance service using the Ripple solution on the Blockchain technology.”
Hashim added:” Launching NBK Direct Remit Service using RippleNet was a significant achievement as it enabled our customers to make money transfers within seconds, easily and at their convenience anytime of the day. It comes as part of our commitment to responding to the needs of our customers wherever they are around the world.”
Hashim affirmed that NBK ensures its services adopt the latest technological advancements made in the banking sector to provide its customers with convenient and fast services that increase their trust and maintain the highest levels of security and safety.
NBK is committed to supporting conferences, events and knowledge sharing sessions that contribute to increasing awareness about new innovations in the banking sector, thus providing customers access to a superior banking experience.
Kuwait: Global Finance awarded NBK “Best Private Banking Services” in Kuwait17.02.2019
National Bank of Kuwait (NBK) has been awarded the “Best Private Banking Services for 2019” in Kuwait for the fifth consecutive year.
Founded in 1987 and headquartered in New York City, Global Finance is one of the leading financial magazines with a mission to publish specialized economic reports and analysis. Its monthly circulation exceeds 50,000 in over 188 countries around the world.
Global Finance’s editorial review board relies on input from industry analysts, corporate executives and technology experts, in addition to entry submissions provided by nominated banks as well as a series of independent research based on measurable indicators and criteria for assessing banks’ performance.
The nominated banks for this year were assessed for their private banking services extended over the period from July 2017 until June 2018.
“Awarding NBK the title of "Best Private Banking Services" in Kuwait for the fifth consecutive year reflects the constant confidence the customers vest in NBK and their appreciation of the superb quality of its services and products, as well as its ability to rise above all challenges” said Malek Khalife, Deputy CEO – Head of Global Private Banking.
He added: “The excellent, strong and durable relationships NBK has always maintained with its high net-worth customers enabled the bank to assume a unique and leading position in the field of wealth management and private banking on both local and regional markets.
NBK also succeeded in maintaining the highest service quality standards while consistently endeavoring to provide the most innovative spectrum of investment and wealth management products and solutions to satisfy the increasingly changing needs of customers.”
“Thanks to its largest local and international network strategically located in the major world financial centers, NBK has always maintained a dominant and advanced position to provide the best banking and investment solutions that covers a wide range of international markets, taking into consideration the specific profile of each and every customer,” noted Khalife.
“I would like to take this opportunity to express my sincere thanks and gratitude to both the trust of NBK clients as well as the invaluable efforts of the Private Banking team at NBK that enabled the bank to win such a prestigious title for the fifth consecutive year,” said Khalife
Global Finance “Best Private Banking Services Award” recognizes private banks that provide excellent services and products to meet high net worth investors’ individual needs through providing tailored products and services to help them maintain and grow their wealth.
For more information relating to the prizes awarded by Global Finance, please visit their website at http://www.gfmag.com/
Kuwait: NBK Awarded “Top 10 GCC Businesses Award” by SCCI11.02.2019
National Bank of Kuwait (NBK) National Bank of Kuwait was awarded “Top 10 GCC Businesses Award” by Sharjah Chamber of Commerce and Industry (SCCI). The award is in recognition of the bank’s efforts, vital role and positive contributions in promoting the private sector investments in the GCC.
NBK – UAE General Manager, Tareq Al-Mudhaf received the award at a ceremony held at the Sharjah Expo Center. The event was attended by a number of dignitaries and members of the diplomatic corps as well as directors of government institutions and private companies.
Launched in 2002, Sharjah Economic Excellence Network Award consists of seven different categories and is based on the model of the European Foundation for Quality Management (EFQM), a comprehensive management model employed by more than 30,000 establishments around the world. Participants are required to submit a comprehensive management framework to be nominated for the award.
The Top 10 GCC Businesses Award is open for the nomination of major private companies based on the number of employees. The award is offered to establishments with the most contributions to support GCC companies in recognition of their efforts to enhance corporate performance and promote business growth.
Receiving such a prestigious award is a testimony to the successful implementation of NBK's strategy aimed at diversifying its business, which extends to its product and service offering and its reach into existing geographies.
In line with NBK's efforts to develop its regional corporate banking activities, especially within the GCC region, it has recently launched Al Watani Wealth Management Company in Saudi Arabia, which is a key millstone to strengthen the bank’s leadership position in the region and deliver maximum added value to its customers through offering unique banking services and products.
NBK set up in the UAE by opening its first branch in Dubai in 2008 to capture Kuwaiti linkages and service Group relationships locally. The branch offers full commercial banking services across a broad spectrum of areas including trade, contractor, corporate, retail and treasury.
For more information on the Sharjah Economic Excellence Award granted by Sharjah Chamber of Commerce and Industry (SCCI), please refer to their website at: http://www.sharjah.gov.ae/Common/OurServicesMenu?MenuId=10105
Bahrain: NBK-Bahrain reports net profits of BHD 118 million (equivalent to KWD 95.2 million) for 2018, up 26% y-o-y10.02.2019
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).
Kuwait: NBK Engages Customers in Latest Digital Services at Ongoing Activation held at The Avenues07.02.2019
As part of its ongoing investments in providing advanced and safe technologies and services, the National Bank of Kuwait (NBK) is engaging with customers in an activation held at The Avenues Phase 2 until Saturday, February 9, during which the Bank focuses on presenting the latest digital banking services it has designed to serve the various needs of its customers.
First launched on Wednesday, February 6, in the presence of members of the press and NBK’s management, the ongoing activation provides customers with a live presentation of the services that benefit their lifestyles. A draw will be held on Saturday for customers of NBK who took part of the activation for a chance to win one of two smartwatches.
Speaking of the activation and the services of the Bank, Mohammed Al Othman, General Manager of the Consumer Banking Group, said: “NBK is committed to offering technologically-advanced services that are safe for our customers. These services are constantly introduced and updated on the NBK Mobile Banking App aimed at providing convenient and secure services that enable customers to complete their banking transactions quickly and easily without the need to visit their nearest branch or during their travels.”
Al Othman added: “We wanted to present these services on a one-to-one basis to allow customers to test these services and be familiarized with them. Of course, we took the opportunity to also reward our customers, giving them the chance to win a smartwatch by visiting our booth until Saturday, February 9, where they can inquire about how to enter the draw.
Al Othman further expanded on the services saying: “We gave customers an introduction to new services and enhancements made to our NBK Mobile Banking App, ATMs and CDMs. Customers can take advantage of services such as cardless withdrawals thanks to the NBK Tap & Pay Debit Card or any other card that provides the feature, all to ensure an easy and enjoyable banking experience.”
One of the enhancements is the NBK Swift Tracking service through which customers can track their money transfers conveniently anytime, anywhere by simply logging in to the NBK Mobile Banking App and clicking on the account statement history to view the status of their transfer.
NBK also launched the standing orders service through the NBK Mobile Banking App that will allow customers to establish a monthly standing order through the App to make automatic recurring transfers, in addition to making amendments or deleting these standing orders.
The NBK Mobile Banking App also features the e-Payments Service to make electronic payments for purchases at a large number of local and international companies such as telecoms, retail facilities, entertainment and more.
As for the NBK Quick Pay, NBK provides its customers with an easy way to receive or transfer amounts from and to friends, or make payments for bills immediately even on weekends or public holidays.
And for the first time in Kuwait, NBK lets its customers activate their dormant accounts instantly and at their convenience. This is done by logging in to the NBK Mobile Banking App and selecting the “Dormant Account Activation” feature under “Self Services”.
Customers can also update their phone number or email address through the NBK Mobile Banking App saving the trip to the branch.
The NBK Mobile Banking App is a safe method to manage accounts. Customers can conveniently open a new account, view transactions made on accounts and credit cards, check their NBK Miles Points and NBK Rewards Program Points, pay outstanding credit cards receivables, pay bills online, find the nearest branch, ATMs or CDMs in Kuwait, as well as submit an account statement request, checkbook and other requests.
In addition to these features, NBK Mobile Banking is a great companion while travelling as it allows customers to manage their cards, increase their monthly transfer limit, and update their contact details.
NBK strives to provide integrated and advanced banking solutions to its customers, and continues to expand its product and service offering and provides easy and secure payment solutions that meet the needs and requirements of customers.
NBK continues to introduce innovative and the newest technology solutions to meet the needs of customers, having partnered with RippleNet to offer customers a fast, safe and convenient cross border payments service, and making NBK the first bank in Kuwait to join the growing network of RippleNet globally.
Kuwait: NBK Celebrates Graduates of its Leadership Development Program, Held in Partnership with Harvard Business School03.02.2019
The National Bank of Kuwait (NBK) celebrated the graduation of participants in its “Leading the Execution of a Strategy in Financial Services” program that was held in partnership with the Harvard Business School and the Institute of Banking Studies. Having taken place between January 26 and 31, 2019, the program was attended by 12 managers of various departments in NBK.
The graduation was attended by Mr. Isam J. Al-Sager, Group Chief Executive Officer, Mr. Yousef J. Al-Obaid, Deputy Governor of the Central Bank of Kuwait, Mr. Emad Al-Ablani General Manager of Group Human Resources and Dr. Yaqoub Al-Rifai, Director General of the Institute of Banking Studies.
Ensuring the program covered the latest studies and advancements made in the banking and financial sector, Harvard Business School focused on providing a series of real-life situations and interactive activities that aimed at improving the participants’ problem-solving and analytical skills. Participants received a degree from the Harvard Business School at the end of the program.
The program was designed specifically for executive managers of divisions at NBK, and adopts the high educational standards of the Harvard Business School and is based on practical case studies that the School is renowned for.
The program is also one of the development initiatives organized by the Institute of Banking Studies. The principal objective of these initiatives is to develop professionals and executive manager in Kuwaiti banks.
The first of these programs was held in 2010 and participation was limited to the Central Bank of Kuwait and Kuwaiti banks that are members of the Institute. The success of these programs expanded the reach in 2011 to include the GCC countries.
NBK has the largest participation in the program this year. The program is held annually, each year in a GCC country, with Kuwait the most recent one which was attended by manager at the Central Bank of Kuwait, Kuwaiti banks, and other Gulf banks and financial institutions.
Harvard Business School is one of the oldest and most prestigious American universities in the world. The School has graduated leading figures in the American and world’s business community since 1636 and ranks first among the top 100 universities in the world.
NBK is committed to the professional development of its employees and enrolls them in development programs held in partnership with leading international universities and institutions. The Bank also supports and encourages employees to seek self-development through training programs and continued education.
Kuwait: NBK reports FY net profit of KD 370.7 million, growing by 15% in 201817.01.2019
The National Bank of Kuwait (“NBK”, the “Bank” or the “Group”) has announced its financial results for the 12-month period ended 31 December 2018.
NBK reported a net profit of KD 370.7 million (USD 1.2 billion), which increased by 15.0% on 2017, with total assets increasing by 5.4% to reach KD 27.4 billion (USD 90.4 billion). Customer loans and advances increased by 6.9% to KD 15.5 billion (USD 51.1 billion), while customer deposits increased by 4.4% to reach KD 14.4 billion (USD 47.4 billion). The Group’s Board of Directors has proposed a cash dividend distribution of 35 fils per share, representing 35.0% of the nominal share value in addition to 5% bonus shares, all subject to approval by shareholders at the AGM.
NBK maintained a conservative approach to risk, reflected in the confirmation of strong long-term credit ratings. The Bank’s robust asset quality metrics held steady, with the NPL/gross loans ratio at 1.38% and an NPL coverage ratio of 228.1%. The Group maintained a high level of capitalization, with a capital adequacy ratio of 17.2%, comfortably in excess of the Central Bank of Kuwait’s requirement.
Commenting on the results, NBK Group Chairman, Nasser Al-Sayer, said:
“We are pleased to report another year of solid performance. The Bank has continued to benefit from Kuwait’s strong fiscal position, which largely protected the country from regional economic volatility during the year. GDP growth is projected to reach 2.2%, and the pipeline of scheduled project awards remains strong.
The role that NBK will play in supporting economic growth and the agenda of ‘New Kuwait 2035’ is assured, as it remains the bank of choice for financing public and private projects.
Having increased the scale and contribution of our international operations, while consolidating our leadership position in Kuwait, we achieved considerable progress in pursuit of our diversification strategy.
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.”
Group net operating income grew by 7.4% year-on-year to reach KD 883.2 million (USD 2.9 billion), with improved earnings driven by an increasingly diverse range of income generators from across business units. Non-interest income accounted for 22% of net operating income in 2018 with robust fee generation across units, as the Bank continues to seek opportunities for improving non-interest income. International banking operations accounted for 29% of the Group’s net profit, increasing from a contribution of 28% in 2017.
Islamic Banking, through subsidiary Boubyan Bank, provided further diversity to the income profile, with a growing contribution to Group net profit.
NBK Group CEO, Isam Al-Sager, commented:
“While the local and regional banking sector faced challenges due to a high level of liquidity putting pressure on credit growth, NBK recorded another set of exceptional results, as the breadth of its operations and the scale of our international footprint mitigated risk.
Earnings from our core banking activities clearly reflect NBK’s underlying institutional strength, which is supported by a strategy that hedges risk by diversifying income across products, customer types and geographies, while maintaining a competitive advantage in the domestic market through both a conventional and Islamic offer.
NBK remains a safe haven, in light of its high credit ratings and recognition of its prudent risk management approach – as borne out by another year of inclusion in Global Finance’s list of the World’s 50 Safest Banks.
A core component of the diversification theme in 2018 was the considerable effort made by the Bank towards its digital transformation. The programme is cross-segment and cross-geography, impacting internal processes and systems as well as the experience and opportunities of our customers.”
Effective cost management policies saw cost growth of just 4.1%, compared with 5.3% in 2017, resulting in a cost-to-income ratio of 31.3% compared with 32.3% in the previous year. The Bank’s profitability metrics delivered positive results, with return on average assets of 1.38% compared with 1.28% in 2017 and return on average equity of 12.0% compared with 10.8% for the previous year. Basic earnings per share (EPS) were 58 fils at year-end (50 fils in 2017), with equity attributable to shareholders increasing by 3.3% to KD 2.9 billion (USD 9.7 billion).
“Our strategic pathway remains essentially unchanged. Our primary objective is to deliver superior returns to shareholders, which we will achieve by defending our leadership of core businesses, maintaining our dominant share of the domestic Kuwaiti market, achieving growth in target segments and exploiting our international presence. Having achieved particularly robust performance in Egypt, we will look to consolidate and build upon recent growth in that market; while in Saudi Arabia we will seek to grow the client-base and AuMs of the recently launched Al Watani Wealth Management Company. We look forward to maintaining our commitment to both customers and shareholders, as we build a more diverse and sophisticated banking offer.”
Kuwait: NBK Academy Celebrates Graduation of 20th Batch of Employees07.01.2019
The National Bank of Kuwait (NBK) celebrated the graduation of its 20th batch of newly recruited employees from its annual NBK Academy which develops the skills of university graduates and qualifies them to work in the banking sector.
The ceremony was attended by the Chief Executive Officer - Kuwait at the National Bank of Kuwait, Mr. Salah Al-Fulaij, the Deputy CEO - Kuwait at the National Bank of Kuwait, Mr. Sulaiman Al-Marzouq and other members of the Executive Management.
Graduates who have ranked first this year were awarded for outstanding efforts in the duration of the program, attending lectures, practical training and on-site visits to branches.
During the four-month period of the program, the training phases of the Academy covered the various aspects of banking such as banking principles, risk management, teamwork, financial accounting, marketing, negotiation, consumer and commercial lending, in addition to practical trainings in rotating departments within the Bank during which they were mentored by internationally-accredited trainers to enable employees to gain specialized banking skills.
NBK Academy is designed to develop the theoretical and practical skills of trainees to prepare them to the banking sector and arm them with hands-on experience, as well as familiarize them with the Bank's business structure and culture to support their career development goals.