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
 Apr 26 2015 - England cruises to nine wicket triumph over WindiesArab News
(MENAFN - Arab News) ST. GEORGE'S Grenada: England ended a wait of two-and-a-half years and 10 matches for Test success away from home with a nine-wicket win over the West Indies in the second Test ...

 Apr 26 2015 - Saudi- Canadian teenager Henderson leads Classic by 1 strokeArab News
(MENAFN - Arab News) DALY CITY California: Canadian teenager Brooke Henderson clung to a one-stroke lead after a poor finish to the third round at the Swinging Skirts LPGA Classic in California on ...

 Apr 26 2015 - Saudi- Witnesses to Everest avalanche: 'I knew I had to survive'Arab News
(MENAFN - Arab News) KATMANDU: At least 17 people were killed and 61 injured when an avalanche set off by Saturday's massive Nepal earthquake swept down the Himalayas. The snow and ice ripped through ...

 Apr 26 2015 - Saudi- Witnesses to Everest avalanche: 'I knew I had to survive'Arab News
(MENAFN - Arab News) KATMANDU: At least 17 people were killed and 61 injured when an avalanche set off by Saturday's massive Nepal earthquake swept down the Himalayas. The snow and ice ripped through ...

 Apr 26 2015 - Morsi's trial 'badly flawed': HRWDaily News Egypt
(MENAFN - Daily News Egypt) Human Rights Watch (HRW) described the first trial of former president Mohamed Morsi as "badly flawed", in a statement on Sunday.The watchdog added in its statement that ...

 Apr 26 2015 - Egypt returning to central role in world: MehlebDaily News Egypt
(MENAFN - Daily News Egypt) The State Information Service (SIS) hailed Prime Minister Ibrahim Mehleb's visit to Indonesia Sunday as "a message that Egypt has made a strong return to its natural and ...

 Apr 26 2015 - Egypt- Feud between Mortada Mansour and UWK continuesDaily News Egypt
(MENAFN - Daily News Egypt) The Criminal Court postponed to 10 May the trial of 21 Ultras White Knights (UWK) members on charges of the attempted murder of the Al-Zamalek club's president Mortada ...

 Apr 26 2015 - New Mondelez Egypt production-line investments are worth EGP 200 m: Managing directorDaily News Egypt
(MENAFN - Daily News Egypt) The Mondelez chocolate company has launched a new production-line under the name of "Marvellous Creations", according to Bassil Abul-Ata, Managing Director of Mondelez ...

 Apr 26 2015 - 6 banks request Citibank Egypt retail business acquisitionDaily News Egypt
(MENAFN - Daily News Egypt) Six banks have requested to acquire Citigroup's retail business in Egypt, with the Central Bank of Egypt (CBE) on top of the acquisition discussions, a Citibank Egypt ...

 Apr 26 2015 - Spike in 'single' cigarette sales expected to decrease tax proceeds by EGP 2bn: TradersDaily News Egypt
(MENAFN - Daily News Egypt) The Cairo and Giza Tobacco Traders Association expects a decrease in tax proceeds of EGP 2bn in the current fiscal year's national budget, due to a nationwide increase in ...

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