Quotes: MENA   Enter Symbol: NewsLetter: Search: advanced

Kuwait - NBK Bahrain posts net profit of $114 mln in 2013, up 24% y/y   Join our daily free Newsletter

MENAFN - Arab Times - 19/02/2014
No. of Ratings : 0
Add to Mixx!



(MENAFN - Arab Times) National Bank of Kuwait (NBK) - Bahrain, a member of NBK Group, reported net profits of 114 million (BHD 42.9 million) for the year 2013 compared with 92 million (BHD 34.6 million) in 2012, a growth of 24 % year-on-year (y-o-y). NBK Bahrain's total assets increased by 41% y-o-y to 7.75 billion as of end of December 2013, compared with 5.5 billion as of end of December 2012. Shareholders' Equity increased by 17% y-o-y to 746 million from 636 million a year ago. Customers' deposits were up 114% y-o-y to 4.5 billion at the end of 2013, compared with 2.1 billion at the end of 2012. Ibrahim S. Dabdoub, NBK Group CEO said: "NBK Bahrain's performance remains solid given the challenging operating environment. This performance is a clear evidence that our regional expansion strategy is successful and rewarding despite the challenges in the region. Our strategy is built on a culture of prudence and strict risk management practices, which continues to serve us well in all times.



Dabdoub added: "We are successfully strengthening our position regionally. Our strategic initiative has become a main pillar on which we will build future growth. We expect the contribution of our international operations to the Group's profitability to continue growing." Ali Fardan, NBK Bahrain General Manager, said: "This strong performance attests to the solid foundations on which the bank was built. NBK Bahrain has been able to sail through the storm unscathed, as we have consistently focused on our core business and ways to diversify sources of income. The quality of our assets is beyond reproach. Meanwhile, we continue to grow our operations and develop new products to serve our corporate and retail customers.



NBK has been present in Bahrain since 1977 and enjoys strong and historical relationships with the major Bahraini and international companies. NBK has the widest banking presence with around 170 branches worldwide. NBK's international presence spans many of the world's leading financial centers including London, Paris, Geneva, New York and Singapore, as well as China (Shanghai). Meanwhile, regional coverage extends to Lebanon, Jordan, Iraq, Egypt, Bahrain, Qatar, Saudi Arabia, the UAE, and Turkey. NBK continues to enjoy collectively 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 eighth consecutive time




 


Arab Times




  MENA News Headlines
 May 3 2015 - Pleasant weather forecast over next three daysJordan News Agency
(MENAFN - Jordan News Agency) The weather on Sunday is expected to be pleasant in the hilly areas and moderate in other parts of the Kingdom with northwesterly moderate winds.According to the Jordan ...

 May 3 2015 - Israeli forces destroy hundreds of acres in NablusJordan News Agency
(MENAFN - Jordan News Agency) Israeli forces destroyed hundreds of acres of cultivated lands on Sunday in the Khirbet Al-Tawil area east of Nablus in the West Bank.Member of the Popular Committee ...

 May 3 2015 - WHO pushes the health diplomacy agenda forward in a fourth high level seminar in CairoJordan News Agency
(MENAFN - Jordan News Agency) The World Health Organization Regional Office for the Eastern Mediterranean Saturday started the fourth seminar on health diplomacy in Cairo, Egypt.The seminar is ...

 May 3 2015 - Israeli occupation forces hold military maneuvers in West BankJordan News Agency
(MENAFN - Jordan News Agency) Israeli occupation forces on Sunday started large military training and maneuvers in the northern West Bank.Israeli Radio said that these maneuvers which will last until ...

 May 3 2015 - 650 trucks with goods, construction materials enter GazaJordan News Agency
(MENAFN - Jordan News Agency) Some 650 trucks loaded with commercial goods and construction materials entered the Gaza Strip on Sunday as the Israeli occupation authorities reopened the Karam Abu ...

 May 3 2015 - Muscat Municipality delegation concludes visitJordan News Agency
(MENAFN - Jordan News Agency) A delegation from Muscat Municipality concluded a visit to the Amman Greater Municipality (GAM), during which representatives discussed how they might cooperate and ...

 May 3 2015 - Officials call on Jordanian and Kazakh private sectors to increase cooperationJordan News Agency
(MENAFN - Jordan News Agency) Jordanian and Kazakh officials have called upon the private sectors in both countries to take advantage of investment opportunities, especially after political ...

 May 3 2015 - Results of poll of Ensour's government to be announced tomorrowJordan News Agency
(MENAFN - Jordan News Agency) The University of Jordan's Center for Strategic Studies will hold a press conference on Monday to announce the results of a poll regarding Prime Minister Abdullah ...

 May 3 2015 - Jordan adopts special strategy to counter terrorism, says interior ministerJordan News Agency
(MENAFN - Jordan News Agency) Interior Minister Hussein Majali said Jordan is making every effort to counter terrorism and extremism through developing a strategy involving civil society ...

 May 3 2015 - Iraq voices concern over US Congress billJordan News Agency
(MENAFN - Jordan News Agency) Iraqi Prime Minister Haider Al-Abadi received a telephone call from United States Vice President Joe Biden, in which al-Abadi discussed his concerns over a bill before ...

more...


 






Google

Arab Advisors_12th convergence conf

 
 

Middle East North Africa - Financial Network

MENAFN News Market Data Countries Tools Section  
 

Middle East North Africa - Financial Network
Arabic MENAFN

Main News
News By Industry
News By Country

Islamic Finance News
Private Equity News

How-To Guides
Technology Section

Travel Section

Search News

Market Indices
Quotes & Charts

Global Indices
Arab Indices

Commodoties

Oil & Energy

Currencies Cross Rates
Currencies Updates
Currency Converter

USA Stocks
Arab Stocks
 

Algeria 
Bahrain 
Egypt 
Iraq
Jordan 
Kuwait 
Lebanon
Morocco 
Oman 
Palestine
Qatar 
Saudi Arabia 
Syria
Tunisia 
UAE 
Yemen

Weather
Economic Calendar
Financial Glossary


Financial Calculators

RSS Feeds [XML]

Corporate Monitor

Events

Real Estate
Submit Your Property

Arab Research
Buy a Research

Press Releases
Submit your PR

Join Newsletters


 
© 2014 menafn.com All Rights Reserved.  Terms of Service | Privacy Policy | Contact Us | Advertise | About MENAFN | Career Opportunities | Feedback | Help