The National Bank of Kuwait (NBK) Group the largest financial institution in Kuwait has broken ground on its first international headquarters in Bahrain marking a significant milestone in the group s regional expansion strategy underscoring its longstanding commitment to the kingdom. The announcement took place on the sidelines of the Gateway Gulf investment forum and the groundbreaking ceremony was attended by Noor bint Ali Alkhulaif Minister of Sustainable Development and Chief Executive of the Bahrain Economic Development Board (Bahrain EDB); Ali Al Mudaifa Chief of Business Development at the Bahrain EDB; Ali Fardan Chief Executive Officer NBK Bahrain Mahmood Al Aali Deputy Chief Executive Officer of NBK Bahrain alongside senior members from both entities. Representing one of the largest contributors to Bahrain s Foreign Direct Investment (FDI) within the financial sector the total investment value of the new NBK Bahrain headquarters stands at 66 million. Addressing the gathering Minister Alkhulaif said: We are delighted to see NBK deepen its presence in Bahrain through this landmark investment. NBK s decision to establish its first international headquarters in Bahrain is a strong vote of confidence in the kingdom s dynamic financial ecosystem our talented workforce and our sustainable development vision. This project reflects the strength of our partnership with leading regional institutions and underscores Bahrain s role as a hub for financial innovation and growth she stated. Fardan said this ground-breaking milestone marks an important chapter in NBK s journey in Bahrain where it has proudly operated for nearly four decades. The establishment of our first headquarters outside Kuwait reflects the depth of our partnership with Bahrain and our continued confidence in its role as a platform for regional growth. This investment represents both a celebration of our long-standing presence and a commitment to our future expansion positioning Bahrain as a central hub for NBK s evolving operations and new business opportunities across the region he noted. The new headquarters will be developed in line with Leadership in Energy and Environmental Design (LEED) standards reflecting NBK s commitment to sustainability and green building practices he added.
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The National Bank of Kuwait (NBK) Group the largest financial institution in Kuwait has broken ground on its first international headquarters in Bahrain marking a significant milestone in the group s regional expansion strategy underscoring its longstanding commitment to the kingdom. The announcement took place on the sidelines of the Gateway Gulf investment forum and the groundbreaking ceremony was attended by Noor bint Ali Alkhulaif Minister of Sustainable Development and Chief Executive of the Bahrain Economic Development Board (Bahrain EDB); Ali Al Mudaifa Chief of Business Development at the Bahrain EDB; Ali Fardan Chief Executive Officer NBK Bahrain Mahmood Al Aali Deputy Chief Executive Officer of NBK Bahrain alongside senior members from both entities. Representing one of the largest contributors to Bahrain s Foreign Direct Investment (FDI) within the financial sector the total investment value of the new NBK Bahrain headquarters stands at 66 million. Addressing the gathering Minister Alkhulaif said: We are delighted to see NBK deepen its presence in Bahrain through this landmark investment. NBK s decision to establish its first international headquarters in Bahrain is a strong vote of confidence in the kingdom s dynamic financial ecosystem our talented workforce and our sustainable development vision. This project reflects the strength of our partnership with leading regional institutions and underscores Bahrain s role as a hub for financial innovation and growth she stated. Fardan said this ground-breaking milestone marks an important chapter in NBK s journey in Bahrain where it has proudly operated for nearly four decades. The establishment of our first headquarters outside Kuwait reflects the depth of our partnership with Bahrain and our continued confidence in its role as a platform for regional growth. This investment represents both a celebration of our long-standing presence and a commitment to our future expansion positioning Bahrain as a central hub for NBK s evolving operations and new business opportunities across the region he noted. The new headquarters will be developed in line with Leadership in Energy and Environmental Design (LEED) standards reflecting NBK s commitment to sustainability and green building practices he added.
National Bank of Kuwait-Bahrain (NBK-Bahrain) reported net profit of BD139.81 million ( 370.85m) for the financial year 2024 compared to BD132.79m ( 352.23m) in 2023. As of the end of 2024 NBK-Bahrain s total assets stood at BD7.75 billion ( 20.56bn) compared with BD7.08bn ( 18.78bn) in 2023. Total shareholders equity increased by 11 per cent year-on-year to BD1.35bn ( 3.58bn) whereas customers deposits stood at BD3.29bn ( 8.73bn) by end of December 2024. Commenting on NBK-Bahrain s year-end financial results NBK Group vice-chairman and chief executive Isam Al Sager said: NBK Bahrain realised good profits in FY 2024 despite heightened geopolitical tension regionally and globally. This underscores our resilient business model and robust financial standing. He added: Our profits last year were driven by the expansion of the bank s operational activity. Moving forward we aim to bolster this momentum by broadening our presence and operations in the Bahraini market capitalising on the promising growth opportunities and favourable outlook that this market offers. Mr Al Sager further said: Our international operations are key contributors to the Group s profits and its exceptional operating results over the past year which proves our resilient business model and at the same time the success of our regional expansion strategy in hedging against the risks and fluctuations and its contribution to diversifying income sources. He also emphasised that the group has consistently expanded its customer base by introducing innovative digital products and services that meet international standards delivering exceptional customer experiences and maintaining strategic investments in technology and innovation. These efforts reaffirm the bank s leadership in digital banking and its commitment to driving sustainable future growth. Meanwhile NBK-Bahrain general manager Ali Fardan said: NBK-Bahrain s results for 2024 prove our focus on strategic goals sustained business growth and leading position in the Bahraini market despite the challenges faced during this year. Mr Fardan pointed out that the bank is moving steadily in strengthening its position in Bahrain by providing high-quality banking and financial services to its retail and corporate customers noting that the bank has great potentials to achieve further growth in the Bahraini market in the future. Over the course of the year NBK-Bahrain has been successful in providing various high-quality banking products and services that effectively helped meet customers needs and enrich their banking experience he added. Furthermore Mr Fardan added that NBK-Bahrain boasts a highly skilled and experienced professional team that plays a key role in driving its operations and maintaining the highest standards of service for all customer segments. At the same time this expertise positions the bank for continued growth in the years ahead. He praised the Central Bank of Bahrain s efforts in particular and all government agencies in general for their continued support extended to NBK-Bahrain and the Bahraini banking sectors. Mr Fardan also highlighted that the great support extended by NBK Group has contributed to strengthening the bank s performance through capitalising on NBK s high credit ratings broad relationship network and leading reputation as one of the top banks in the Middle East and one of the safest banks in the world.
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National Bank of Kuwait-Bahrain (NBK-Bahrain) reported net profit of BD139.81 million ( 370.85m) for the financial year 2024 compared to BD132.79m ( 352.23m) in 2023. As of the end of 2024 NBK-Bahrain s total assets stood at BD7.75 billion ( 20.56bn) compared with BD7.08bn ( 18.78bn) in 2023. Total shareholders equity increased by 11 per cent year-on-year to BD1.35bn ( 3.58bn) whereas customers deposits stood at BD3.29bn ( 8.73bn) by end of December 2024. Commenting on NBK-Bahrain s year-end financial results NBK Group vice-chairman and chief executive Isam Al Sager said: NBK Bahrain realised good profits in FY 2024 despite heightened geopolitical tension regionally and globally. This underscores our resilient business model and robust financial standing. He added: Our profits last year were driven by the expansion of the bank s operational activity. Moving forward we aim to bolster this momentum by broadening our presence and operations in the Bahraini market capitalising on the promising growth opportunities and favourable outlook that this market offers. Mr Al Sager further said: Our international operations are key contributors to the Group s profits and its exceptional operating results over the past year which proves our resilient business model and at the same time the success of our regional expansion strategy in hedging against the risks and fluctuations and its contribution to diversifying income sources. He also emphasised that the group has consistently expanded its customer base by introducing innovative digital products and services that meet international standards delivering exceptional customer experiences and maintaining strategic investments in technology and innovation. These efforts reaffirm the bank s leadership in digital banking and its commitment to driving sustainable future growth. Meanwhile NBK-Bahrain general manager Ali Fardan said: NBK-Bahrain s results for 2024 prove our focus on strategic goals sustained business growth and leading position in the Bahraini market despite the challenges faced during this year. Mr Fardan pointed out that the bank is moving steadily in strengthening its position in Bahrain by providing high-quality banking and financial services to its retail and corporate customers noting that the bank has great potentials to achieve further growth in the Bahraini market in the future. Over the course of the year NBK-Bahrain has been successful in providing various high-quality banking products and services that effectively helped meet customers needs and enrich their banking experience he added. Furthermore Mr Fardan added that NBK-Bahrain boasts a highly skilled and experienced professional team that plays a key role in driving its operations and maintaining the highest standards of service for all customer segments. At the same time this expertise positions the bank for continued growth in the years ahead. He praised the Central Bank of Bahrain s efforts in particular and all government agencies in general for their continued support extended to NBK-Bahrain and the Bahraini banking sectors. Mr Fardan also highlighted that the great support extended by NBK Group has contributed to strengthening the bank s performance through capitalising on NBK s high credit ratings broad relationship network and leading reputation as one of the top banks in the Middle East and one of the safest banks in the world.
National Bank of Kuwait s Bahrain unit (NBK-Bahrain) launched its Privilege Banking service yesterday offering high-net-worth clients exclusive perks and dedicated relationship managers. The service launched under the patronage of the Central Bank of Bahrain executive director of banking supervision Khalid Hamad aims to elevate the customer experience with features like priority call centre access and higher ATM withdrawal limits. The launch of the new service comes in line with our efforts to meet customers needs through exceptional banking products and services tailored to their lifestyles said NBK-Bahrain general manager Ali Fardan. Privilege Banking provides customers with an array of services including: A dedicated Relationship Manager Access to NBK Premium Services Lounge Priority status when calling the NBK Contact Centre and routing to a dedicated and highly qualified officer High ATM daily cash withdrawal limit NBK Privilege Debit Card Enjoying the preferential benefits of NBK Visa Signature Credit Card including free valet parking distinguished NBK Rewards Programme annual fee waiver free access to airport lounges worldwide as well as luxurious concierge services with VISA. Privilege Banking customers can share the exclusive banking products and services with their family members allowing all family members to enjoy the financial products and personal services that are tailored to fit their unique and different lifestyles. Privilege Banking offers customers an international banking experience through the services provided by NBK to its customers in view of the bank s widespread local and international branch network of more than 150 branches and subsidiaries covering four continents around the world Mr Fardan noted. We promise our customers to continue introducing innovative top-notch banking services that match their lifestyle in an effort to enrich the banking experience that we at NBK are keen to offer them. Customers can inquire about the eligibility requirements for the Privilege Banking by visiting the nearest branch calling the NBK Contact Centre at 17155555 or through the bank s website at nbk.com/Bahrain.
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National Bank of Kuwait s Bahrain unit (NBK-Bahrain) launched its Privilege Banking service yesterday offering high-net-worth clients exclusive perks and dedicated relationship managers. The service launched under the patronage of the Central Bank of Bahrain executive director of banking supervision Khalid Hamad aims to elevate the customer experience with features like priority call centre access and higher ATM withdrawal limits. The launch of the new service comes in line with our efforts to meet customers needs through exceptional banking products and services tailored to their lifestyles said NBK-Bahrain general manager Ali Fardan. Privilege Banking provides customers with an array of services including: A dedicated Relationship Manager Access to NBK Premium Services Lounge Priority status when calling the NBK Contact Centre and routing to a dedicated and highly qualified officer High ATM daily cash withdrawal limit NBK Privilege Debit Card Enjoying the preferential benefits of NBK Visa Signature Credit Card including free valet parking distinguished NBK Rewards Programme annual fee waiver free access to airport lounges worldwide as well as luxurious concierge services with VISA. Privilege Banking customers can share the exclusive banking products and services with their family members allowing all family members to enjoy the financial products and personal services that are tailored to fit their unique and different lifestyles. Privilege Banking offers customers an international banking experience through the services provided by NBK to its customers in view of the bank s widespread local and international branch network of more than 150 branches and subsidiaries covering four continents around the world Mr Fardan noted. We promise our customers to continue introducing innovative top-notch banking services that match their lifestyle in an effort to enrich the banking experience that we at NBK are keen to offer them. Customers can inquire about the eligibility requirements for the Privilege Banking by visiting the nearest branch calling the NBK Contact Centre at 17155555 or through the bank s website at nbk.com/Bahrain.
THE National Bank of Kuwait (NBK) Bahrain has launched an exclusive campaign for its customers in partnership with LuLu Hypermarket. Under the drive which continues until May 20 NBK credit cardholders will be rewarded with special offers including a chance to enter a draw every 10 days for a BD100 voucher from the hypermarket by spending at least BD50 at any of the hypermarket s branches. We are delighted to partner with LuLu Hypermarket to bring our valued customers an exceptional campaign that enhances their shopping experience and rewards their loyalty said NBK-Bahrain deputy general manager Mahmood Al A ali. At NBK we continuously strive to provide innovative solutions and exclusive benefits to our customers and this campaign is a testament to our commitment to enhancing their financial well-being. LuLu Group director Juzer Rupawala said their partnership underscores their commitment to provide an unparalleled shopping experience and delivering exceptional value to our loyal patrons. For more information call 17155555 or visit your nearest NBK Bahrain branch or NBK s Instagram page @nbkbahrain.
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THE National Bank of Kuwait (NBK) Bahrain has launched an exclusive campaign for its customers in partnership with LuLu Hypermarket. Under the drive which continues until May 20 NBK credit cardholders will be rewarded with special offers including a chance to enter a draw every 10 days for a BD100 voucher from the hypermarket by spending at least BD50 at any of the hypermarket s branches. We are delighted to partner with LuLu Hypermarket to bring our valued customers an exceptional campaign that enhances their shopping experience and rewards their loyalty said NBK-Bahrain deputy general manager Mahmood Al A ali. At NBK we continuously strive to provide innovative solutions and exclusive benefits to our customers and this campaign is a testament to our commitment to enhancing their financial well-being. LuLu Group director Juzer Rupawala said their partnership underscores their commitment to provide an unparalleled shopping experience and delivering exceptional value to our loyal patrons. For more information call 17155555 or visit your nearest NBK Bahrain branch or NBK s Instagram page @nbkbahrain.
The National Bank of Kuwait (NBK) Group the largest financial institution in Kuwait has broken ground on its first international headquarters in Bahrain marking a significant milestone in the group s regional expansion strategy underscoring its longstanding commitment to the kingdom. The announcement took place on the sidelines of the Gateway Gulf investment forum and the groundbreaking ceremony was attended by Noor bint Ali Alkhulaif Minister of Sustainable Development and Chief Executive of the Bahrain Economic Development Board (Bahrain EDB); Ali Al Mudaifa Chief of Business Development at the Bahrain EDB; Ali Fardan Chief Executive Officer NBK Bahrain Mahmood Al Aali Deputy Chief Executive Officer of NBK Bahrain alongside senior members from both entities. Representing one of the largest contributors to Bahrain s Foreign Direct Investment (FDI) within the financial sector the total investment value of the new NBK Bahrain headquarters stands at 66 million. Addressing the gathering Minister Alkhulaif said: We are delighted to see NBK deepen its presence in Bahrain through this landmark investment. NBK s decision to establish its first international headquarters in Bahrain is a strong vote of confidence in the kingdom s dynamic financial ecosystem our talented workforce and our sustainable development vision. This project reflects the strength of our partnership with leading regional institutions and underscores Bahrain s role as a hub for financial innovation and growth she stated. Fardan said this ground-breaking milestone marks an important chapter in NBK s journey in Bahrain where it has proudly operated for nearly four decades. The establishment of our first headquarters outside Kuwait reflects the depth of our partnership with Bahrain and our continued confidence in its role as a platform for regional growth. This investment represents both a celebration of our long-standing presence and a commitment to our future expansion positioning Bahrain as a central hub for NBK s evolving operations and new business opportunities across the region he noted. The new headquarters will be developed in line with Leadership in Energy and Environmental Design (LEED) standards reflecting NBK s commitment to sustainability and green building practices he added.
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The National Bank of Kuwait (NBK) Group, the largest financial institution in Kuwait, has broken ground on its first international headquarters in Bahrain, marking a significant milestone in the group’s regional expansion strategy, underscoring its longstanding commitment to the kingdom.
The announcement took place on the sidelines of the Gateway Gulf investment forum and the groundbreaking ceremony was attended by Noor bint Ali Alkhulaif, Minister of Sustainable Development, and Chief Executive of the Bahrain Economic Development Board (Bahrain EDB); Ali Al Mudaifa, Chief of Business Development at the Bahrain EDB; Ali Fardan, Chief Executive Officer, NBK Bahrain, Mahmood Al Aali, Deputy Chief Executive Officer of NBK Bahrain alongside senior members from both entities.
Representing one of the largest contributors to Bahrain’s Foreign Direct Investment (FDI) within the financial sector, the total investment value of the new NBK Bahrain headquarters stands at $66 million.
Addressing the gathering, Minister Alkhulaif said: “We are delighted to see NBK deepen its presence in Bahrain through this landmark investment. NBK’s decision to establish its first international headquarters in Bahrain is a strong vote of confidence in the kingdom’s dynamic financial ecosystem, our talented workforce, and our sustainable development vision.”
“This project reflects the strength of our partnership with leading regional institutions and underscores Bahrain’s role as a hub for financial innovation and growth,” she stated.
Fardan said this ground-breaking milestone marks an important chapter in NBK’s journey in Bahrain, where it has proudly operated for nearly four decades.
“The establishment of our first headquarters outside Kuwait reflects the depth of our partnership with Bahrain and our continued confidence in its role as a platform for regional growth. This investment represents both a celebration of our long-standing presence and a commitment to our future expansion, positioning Bahrain as a central hub for NBK’s evolving operations and new business opportunities across the region,” he noted.
The new headquarters will be developed in line with Leadership in Energy and Environmental Design (LEED) standards, reflecting NBK’s commitment to sustainability and green building practices, he added.
National Bank of Kuwait-Bahrain (NBK-Bahrain) reported net profit of BD139.81 million ( 370.85m) for the financial year 2024 compared to BD132.79m ( 352.23m) in 2023. As of the end of 2024 NBK-Bahrain s total assets stood at BD7.75 billion ( 20.56bn) compared with BD7.08bn ( 18.78bn) in 2023. Total shareholders equity increased by 11 per cent year-on-year to BD1.35bn ( 3.58bn) whereas customers deposits stood at BD3.29bn ( 8.73bn) by end of December 2024. Commenting on NBK-Bahrain s year-end financial results NBK Group vice-chairman and chief executive Isam Al Sager said: NBK Bahrain realised good profits in FY 2024 despite heightened geopolitical tension regionally and globally. This underscores our resilient business model and robust financial standing. He added: Our profits last year were driven by the expansion of the bank s operational activity. Moving forward we aim to bolster this momentum by broadening our presence and operations in the Bahraini market capitalising on the promising growth opportunities and favourable outlook that this market offers. Mr Al Sager further said: Our international operations are key contributors to the Group s profits and its exceptional operating results over the past year which proves our resilient business model and at the same time the success of our regional expansion strategy in hedging against the risks and fluctuations and its contribution to diversifying income sources. He also emphasised that the group has consistently expanded its customer base by introducing innovative digital products and services that meet international standards delivering exceptional customer experiences and maintaining strategic investments in technology and innovation. These efforts reaffirm the bank s leadership in digital banking and its commitment to driving sustainable future growth. Meanwhile NBK-Bahrain general manager Ali Fardan said: NBK-Bahrain s results for 2024 prove our focus on strategic goals sustained business growth and leading position in the Bahraini market despite the challenges faced during this year. Mr Fardan pointed out that the bank is moving steadily in strengthening its position in Bahrain by providing high-quality banking and financial services to its retail and corporate customers noting that the bank has great potentials to achieve further growth in the Bahraini market in the future. Over the course of the year NBK-Bahrain has been successful in providing various high-quality banking products and services that effectively helped meet customers needs and enrich their banking experience he added. Furthermore Mr Fardan added that NBK-Bahrain boasts a highly skilled and experienced professional team that plays a key role in driving its operations and maintaining the highest standards of service for all customer segments. At the same time this expertise positions the bank for continued growth in the years ahead. He praised the Central Bank of Bahrain s efforts in particular and all government agencies in general for their continued support extended to NBK-Bahrain and the Bahraini banking sectors. Mr Fardan also highlighted that the great support extended by NBK Group has contributed to strengthening the bank s performance through capitalising on NBK s high credit ratings broad relationship network and leading reputation as one of the top banks in the Middle East and one of the safest banks in the world.
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National Bank of Kuwait-Bahrain (NBK-Bahrain) reported net profit of BD139.81 million ($370.85m) for the financial year 2024, compared to BD132.79m ($352.23m) in 2023.
As of the end of 2024, NBK-Bahrain’s total assets stood at BD7.75 billion ($20.56bn) compared with BD7.08bn ($18.78bn) in 2023.
Total shareholders’ equity increased by 11 per cent year-on-year to BD1.35bn ($3.58bn), whereas customers deposits stood at BD3.29bn ($8.73bn) by end of December 2024.
Commenting on NBK-Bahrain’s year-end financial results, NBK Group vice-chairman and chief executive Isam Al Sager said: “NBK Bahrain realised good profits in FY 2024, despite heightened geopolitical tension regionally and globally. This underscores our resilient business model and robust financial standing.”
He added: “Our profits last year were driven by the expansion of the bank’s operational activity. Moving forward, we aim to bolster this momentum by broadening our presence and operations in the Bahraini market, capitalising on the promising growth opportunities and favourable outlook that this market offers.”
Mr Al Sager further said: “Our international operations are key contributors to the Group’s profits and its exceptional operating results over the past year, which proves our resilient business model, and at the same time, the success of our regional expansion strategy in hedging against the risks and fluctuations, and its contribution to diversifying income sources.”
He also emphasised that the group has consistently expanded its customer base by introducing innovative digital products and services that meet international standards, delivering exceptional customer experiences, and maintaining strategic investments in technology and innovation. These efforts reaffirm the bank’s leadership in digital banking and its commitment to driving sustainable future growth.
Meanwhile, NBK-Bahrain general manager Ali Fardan said: “NBK-Bahrain’s results for 2024 prove our focus on strategic goals, sustained business growth and leading position in the Bahraini market, despite the challenges faced during this year.”
Mr Fardan pointed out that the bank is moving steadily in strengthening its position in Bahrain by providing high-quality banking and financial services to its retail and corporate customers, noting that the bank has great potentials to achieve further growth in the Bahraini market in the future.
“Over the course of the year, NBK-Bahrain has been successful in providing various high-quality banking products and services that effectively helped meet customers’ needs and enrich their banking experience,” he added.
Furthermore, Mr Fardan added that NBK-Bahrain boasts a highly skilled and experienced professional team that plays a key role in driving its operations and maintaining the highest standards of service for all customer segments. At the same time, this expertise positions the bank for continued growth in the years ahead.
He praised the Central Bank of Bahrain’s efforts, in particular, and all government agencies, in general, for their continued support extended to NBK-Bahrain and the Bahraini banking sectors.
Mr Fardan also highlighted that the great support extended by NBK Group has contributed to strengthening the bank’s performance, through capitalising on NBK’s high credit ratings, broad relationship network, and leading reputation as one of the top banks in the Middle East, and one of the safest banks in the world.
National Bank of Kuwait s Bahrain unit (NBK-Bahrain) launched its Privilege Banking service yesterday offering high-net-worth clients exclusive perks and dedicated relationship managers. The service launched under the patronage of the Central Bank of Bahrain executive director of banking supervision Khalid Hamad aims to elevate the customer experience with features like priority call centre access and higher ATM withdrawal limits. The launch of the new service comes in line with our efforts to meet customers needs through exceptional banking products and services tailored to their lifestyles said NBK-Bahrain general manager Ali Fardan. Privilege Banking provides customers with an array of services including: A dedicated Relationship Manager Access to NBK Premium Services Lounge Priority status when calling the NBK Contact Centre and routing to a dedicated and highly qualified officer High ATM daily cash withdrawal limit NBK Privilege Debit Card Enjoying the preferential benefits of NBK Visa Signature Credit Card including free valet parking distinguished NBK Rewards Programme annual fee waiver free access to airport lounges worldwide as well as luxurious concierge services with VISA. Privilege Banking customers can share the exclusive banking products and services with their family members allowing all family members to enjoy the financial products and personal services that are tailored to fit their unique and different lifestyles. Privilege Banking offers customers an international banking experience through the services provided by NBK to its customers in view of the bank s widespread local and international branch network of more than 150 branches and subsidiaries covering four continents around the world Mr Fardan noted. We promise our customers to continue introducing innovative top-notch banking services that match their lifestyle in an effort to enrich the banking experience that we at NBK are keen to offer them. Customers can inquire about the eligibility requirements for the Privilege Banking by visiting the nearest branch calling the NBK Contact Centre at 17155555 or through the bank s website at nbk.com/Bahrain.
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National Bank of Kuwait’s Bahrain unit (NBK-Bahrain) launched its Privilege Banking service yesterday, offering high-net-worth clients exclusive perks and dedicated relationship managers.
The service, launched under the patronage of the Central Bank of Bahrain executive director of banking supervision Khalid Hamad, aims to elevate the customer experience with features like priority call centre access and higher ATM withdrawal limits.
“The launch of the new service comes in line with our efforts to meet customers’ needs through exceptional banking products and services tailored to their lifestyles,” said NBK-Bahrain general manager Ali Fardan.
Privilege Banking provides customers with an array of services, including: A dedicated Relationship Manager, Access to NBK Premium Services Lounge, Priority status when calling the NBK Contact Centre and routing to a dedicated and highly qualified officer, High ATM daily cash withdrawal limit, NBK Privilege Debit Card, Enjoying the preferential benefits of NBK Visa Signature Credit Card including free valet parking, distinguished NBK Rewards Programme, annual fee waiver, free access to airport lounges worldwide, as well as luxurious concierge services with VISA.
Privilege Banking customers can share the exclusive banking products and services with their family members, allowing all family members to enjoy the financial products and personal services that are tailored to fit their unique and different lifestyles.
“Privilege Banking offers customers an international banking experience through the services provided by NBK to its customers, in view of the bank’s widespread local and international branch network of more than 150 branches and subsidiaries covering four continents around the world,” Mr Fardan noted.
“We promise our customers to continue introducing innovative, top-notch banking services that match their lifestyle, in an effort to enrich the banking experience that we, at NBK, are keen to offer them.”
Customers can inquire about the eligibility requirements for the Privilege Banking by visiting the nearest branch, calling the NBK Contact Centre at 17155555 or through the bank’s website at nbk.com/Bahrain.
THE National Bank of Kuwait (NBK) Bahrain has launched an exclusive campaign for its customers in partnership with LuLu Hypermarket. Under the drive which continues until May 20 NBK credit cardholders will be rewarded with special offers including a chance to enter a draw every 10 days for a BD100 voucher from the hypermarket by spending at least BD50 at any of the hypermarket s branches. We are delighted to partner with LuLu Hypermarket to bring our valued customers an exceptional campaign that enhances their shopping experience and rewards their loyalty said NBK-Bahrain deputy general manager Mahmood Al A ali. At NBK we continuously strive to provide innovative solutions and exclusive benefits to our customers and this campaign is a testament to our commitment to enhancing their financial well-being. LuLu Group director Juzer Rupawala said their partnership underscores their commitment to provide an unparalleled shopping experience and delivering exceptional value to our loyal patrons. For more information call 17155555 or visit your nearest NBK Bahrain branch or NBK s Instagram page @nbkbahrain.
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THE National Bank of Kuwait (NBK) Bahrain has launched an exclusive campaign for its customers in partnership with LuLu Hypermarket.
Under the drive, which continues until May 20, NBK credit cardholders will be rewarded with special offers including a chance to enter a draw every 10 days for a BD100 voucher from the hypermarket by spending at least BD50 at any of the hypermarket’s branches.
“We are delighted to partner with LuLu Hypermarket to bring our valued customers an exceptional campaign that enhances their shopping experience and rewards their loyalty,” said NBK-Bahrain deputy general manager Mahmood Al A’ali.
“At NBK, we continuously strive to provide innovative solutions and exclusive benefits to our customers, and this campaign is a testament to our commitment to enhancing their financial well-being.”
LuLu Group director Juzer Rupawala said their partnership underscores their commitment to provide an unparalleled shopping experience and delivering exceptional value to our loyal patrons.
For more information, call 17155555 or visit your nearest NBK Bahrain branch or NBK’s Instagram page @nbkbahrain.
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National Bank of Kuwait (NBK) and Mabanee Company (Mabanee) one of the region s largest real estate developers have signed Kuwait s first green financing agreement for a loan of KD25 million ( 81.46 million) to Mabanee. Mabanee will utilise the loan to finance the Sabah Al-Ahmad Project (S3) an ambitious development targeting LEED Gold Certification for Building Design and Construction (LEED BD C) from the US Green Building Council the world s leading authority on sustainable building standards said a Kuwait Times report. Reaffirming the shared commitment of NBK and Mabanee to advancing real estate projects aligned with the highest international environmental standards this financing has been structured in accordance with the Green Loan Principles (GLP) published in 2023 by the Loan Market Association (LMA) providing a global framework to ensure that funding is channeled towards projects with a positive environmental impact. Sulaiman K Al-Fulaij Chief - Dom...
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National Bank of Kuwait (NBK) and Mabanee Company (Mabanee), one of the region’s largest real estate developers, have signed Kuwait’s first green financing agreement for a loan of KD25 million ($81.46 million) to Mabanee.
Mabanee will utilise the loan to finance the Sabah Al-Ahmad Project (S3), an ambitious development targeting LEED Gold Certification for Building Design and Construction (LEED BD+C) from the US Green Building Council, the world’s leading authority on sustainable building standards, said a Kuwait Times report.
Reaffirming the shared commitment of NBK and Mabanee to advancing real estate projects aligned with the highest international environmental standards, this financing has been structured in accordance with the Green Loan Principles (GLP) published in 2023 by the Loan Market Association (LMA), providing a global framework to ensure that funding is channeled towards projects with a positive environmental impact.
Sulaiman K Al-Fulaij, Chief - Dom...
The National Bank of Kuwait (NBK) Group the largest financial institution in Kuwait a holder of the Kingdom of Bahrain s Golden License has broken ground on its first international headquarters in the Kingdom marking a significant milestone in the group s regional expansion strategy underscoring its longstanding commitment to Bahrain. The announcement took place on the sidelines of the Gateway Gulf investment forum and the groundbreaking ceremony was attended by Noor bint Ali Alkhulaif Minister of Sustainable Development Chief Executive of the Bahrain Economic Development Board (Bahrain EDB); Ali Al Mudaifa Chief of Business Development at the Bahrain EDB; Ali Fardan Chief Executive Officer NBK Bahrain Mahmood Al Aali Deputy Chief Executive Officer - NBK Bahrain alongside senior members from both entities. Representing one of the largest contributors to Bahrain s Foreign Direct Investment (FDI) within the financial sector the total investment value of ...
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The National Bank of Kuwait (NBK) Group, the largest financial institution in Kuwait, a holder of the Kingdom of Bahrain’s Golden License, has broken ground on its first international headquarters in the Kingdom, marking a significant milestone in the group’s regional expansion strategy, underscoring its longstanding commitment to Bahrain.
The announcement took place on the sidelines of the Gateway Gulf investment forum and the groundbreaking ceremony was attended by Noor bint Ali Alkhulaif, Minister of Sustainable Development, Chief Executive of the Bahrain Economic Development Board (Bahrain EDB); Ali Al Mudaifa, Chief of Business Development at the Bahrain EDB; Ali Fardan, Chief Executive Officer, NBK Bahrain, Mahmood Al Aali, Deputy Chief Executive Officer - NBK Bahrain alongside senior members from both entities.
Representing one of the largest contributors to Bahrain’s Foreign Direct Investment (FDI) within the financial sector, the total investment value of ...
Preliminary estimates from National Bank of Kuwait (NBK) Economic Research show the Kuwait s GDP declined by 4.4% y/y in Q4 2023 easing slightly on Q3 s outcome of -5.8%. The oil sector remained constrained by Opec-mandated crude oil production cuts while the non-oil sector recorded a steeper decline than in the previous quarter. For 2023 as whole the non-oil economy contracted for the second consecutive year. Parallel data on the expenditure side of the national accounts showed that investment s share of GDP stood at a modest 17% of GDP in 2022 (the latest year available). This is something that could be pushed much higher as the new government pursues its diversification and development goals. Oil GDP contraction The figures showed oil GDP in Q4 down 6.4% y/y a slight improvement on Q3 ...
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Royal Golden Eagle (RGE) a global group of firms headquartered in Singapore has said that its member company Apical Group has closed 787 million in Sustainability-Linked Loans (SLLs) with strong support from Middle Eastern banks. UAE s largest bank First Abu Dhabi (FAB) and Kuwait s largest financial institution the National Bank of Kuwait (NBK) were among the mandated lead arrangers bookrunners and underwriters for the SLLs. Other Middle Eastern lenders in the consortium of more than 20 banks included the National Bank of Fujairah (NBF) and Invest Bank. Tey Wei Lin President RGE said: Sustainability is at the core of our business model and sustainable financing is the way forward for RGE. Encouraged by the strong participation from Middle Eastern banks for Apical s latest round of SLLs we aim to contribute more to the growth of sustainable financing in the region as we grow ...
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NBK Capital Partners Mezzanine Fund II has closed a 10 million financing facility with Uber s exclusive vehicle supply partner in Africa the mobility fintech Moove. The innovative asset-backed venture debt marks the sixth investment from the Fund advised by NBK Capital Partners. The growth facility from the Fund will support Moove s expansion in West Africa initially executives said. Moove is the first investment in Africa by NBK Capital Partners funds underscoring the opportunity for a platform like Moove to address the continent s vehicle financing gap. Founded in 2019 by Ladi Delano and Jide Odunsi Moove is an African mobility fintech that is democratising vehicle ownership by providing revenue-based vehicle financing to mobility entrepreneurs across Africa. The two co-founders are British-born Nigerians educated at the London School of Economics O...
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Funds advised by Gulf Capital and NBK Capital Partners respectively have announced a full and successful exit of their growth capital facility in Jordan s Classic Fashion Apparel Industries (Classic Fashion). The exit was financed with support from a leading global bank which provided new facilities to the company for debt refinancing and further expansion. At the time of the investment in April 2018 Gulf Capital and NBK Capital Partners partnered with Sanal Kumar the founder of Classic Fashion to provide the company capital for production expansion and to support a refinancing plan. During this period the company grew its revenues from US 450 million in 2017 to more than 600 million in 2020. Founded in 2003 Classic Fashion has achieved impressive growth and is now a recognised international industry player with longstanding relationships with global retail giants such as Walmart Under Armour Adidas American Eagle JC...
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Funds advised by Gulf Capital and NBK Capital Partners, respectively, have announced a full and successful exit of their growth capital facility in Jordan’s Classic Fashion Apparel Industries (Classic Fashion).
The exit was financed with support from a leading global bank, which provided new facilities to the company for debt refinancing and further expansion.
At the time of the investment in April 2018, Gulf Capital and NBK Capital Partners partnered with Sanal Kumar, the founder of Classic Fashion, to provide the company capital for production expansion and to support a refinancing plan. During this period, the company grew its revenues from US$ 450 million in 2017 to more than $600 million in 2020.
Founded in 2003, Classic Fashion has achieved impressive growth and is now a recognised international industry player with longstanding relationships with global retail giants such as Walmart, Under Armour, Adidas, American Eagle, JC...
NBK Capital Partners has closed a 20 million acquisition financing facility with Reach Group a leading UAE-based HR outsourcing company in support of its cross-border expansion. The innovative Sharia-compliant financing marks the first investment from NBK Capital Partners Shari ah Credit Opportunities Fund a fund advised by NBK Capital Partners (the Shari ah Credit Opportunities Fund ). Reach focuses on supplying skilled and semi-skilled employees to government and quasi-government entities and private sector companies. Following a major expansion program over the past decade the company is entering the massive Saudi market through the acquisition of a HR Recruitment Company in a strategic partnership with local conglomerate. Yaser Moustafa CEO NBK Capital Partners said: Reach is a highly reputable leader in outsourced staffing solutions in the region. We were pleased to work with its founder and m...
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NBK Capital Partners has closed a $20 million acquisition financing facility with Reach Group, a leading UAE-based HR outsourcing company in support of its cross-border expansion.
The innovative Sharia-compliant financing marks the first investment from NBK Capital Partners Shari’ah Credit Opportunities Fund, a fund advised by NBK Capital Partners (the “Shari’ah Credit Opportunities Fund”).
Reach focuses on supplying skilled and semi-skilled employees to government and quasi-government entities and private sector companies. Following a major expansion program over the past decade, the company is entering the massive Saudi market through the acquisition of a HR Recruitment Company, in a strategic partnership with local conglomerate.
Yaser Moustafa, CEO, NBK Capital Partners said: “Reach is a highly reputable leader in outsourced staffing solutions in the region. We were pleased to work with its founder and m...
NBK Capital Partners the alternative investments arm of Watani Investment Company has announced the first closing of a targeted 300 million shari ah credit fund anchored by Saudi Arabia s Public Investment Fund (PIF) and other institutional investors. Regulated by the DFSA the NBK Capital Partners is headquartered in Dubai International Financial Centre and its parent company NBK Capital has office in Kuwait City with a key presence in Manama (Bahrain) and Istanbul (Turkey). NBK Capital Partners employs a pioneering strategy for flexible long-term direct lending launched in the wake of the global financial crisis to meet the financing needs of mid-sized firms unable to secure attractive financing terms said a statement from the company. The new NBK Capital Partners Shari ah Credit Opportunities Fund will provide flexible capital solutions to mid...
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Thyssenkrupp Elevator one of the world s leading elevator companies said it has installed its unique Twin elevator systems at the iconic new head office of National Bank of Kuwait (NBK). Located in the heart of Kuwait City the new pearl and shell-shape-inspired NBK head office standing at a height of 300 m featuring 63 floors thus making it the country s second tallest building and a remarkable new landmark in the city s skyline. The 10 Twin elevator systems installed at this office tower are the first to be supplied by thyssenkrupp Elevator in Kuwait said the company in a statement. Twin is the only elevator system with two cabins that move independently in one single shaft making the most efficient use of available space using less energy and quickening the pace of building tenants it stated. The ...
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The UAE s economic outlook remains stable despite a slowing global economy trade disputes softer energy demand and heightened geopolitical tensions according to research published by the National Bank of Kuwait (NBK). Headwinds from the uncertain global and regional geopolitical situation have had an adverse impact on economic growth said NBK in its latest Economics in Focus report. Overall growth stood at 3.7 per cent year-on-year (y/y) in the first quarter of (1Q19) supported by the oil sector while the non-oil economy slowed to 0.3 per cent y/y. Growth prospects in the medium term remain solid however further efforts towards diversification and continued progress in fiscal private sector and regulatory reform will be required to weather the possibility of continued adverse external shocks. Dr Saade Chami NBK Group chief economist said: The UAE non-oil sector experienced fairly robust growth rates during 2010-20...
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The UAE’s economic outlook remains stable, despite a slowing global economy, trade disputes, softer energy demand and heightened geopolitical tensions, according to research published by the National Bank of Kuwait (NBK).
Headwinds from the uncertain global and regional geopolitical situation have had an adverse impact on economic growth, said NBK in its latest Economics in Focus report.
Overall growth stood at 3.7 per cent year-on-year (y/y) in the first quarter of (1Q19), supported by the oil sector, while the non-oil economy slowed to 0.3 per cent y/y. Growth prospects in the medium term remain solid however further efforts towards diversification and continued progress in fiscal, private sector and regulatory reform will be required to weather the possibility of continued adverse external shocks.
Dr Saade Chami, NBK Group chief economist, said: “The UAE non-oil sector experienced fairly robust growth rates during 2010-20...
Oil prices for the first quarter of 2019 have posted their best quarterly performance since 2009 said the National Bank of Kuwait (NBK) in a new research. Buoyed by signs of a tightening market with Saudi Arabia taking the lead in curbing production and a decline in production from the US Russia Canada Libya and Iran among others oil prices are expected to firm up during second and third quarter of the year it added. A tightening market Improving oil prices have been driven by a tightening market with production cuts across a number of global producers. Opec s efforts to set production limits in addition to commitments to the Vienna Agreement have resulted in significant reductions in output by leading oil producers. Opec-11 compliance reached 106 per cent in February with aggregate production falling by 812 kb/d. Non-Opec compliance improved to 52 per cent in February from 25 per cent...
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Oil prices for the first quarter of 2019 have posted their best quarterly performance since 2009, said the National Bank of Kuwait (NBK) in a new research.
Buoyed by signs of a tightening market, with Saudi Arabia taking the lead in curbing production, and a decline in production from the US, Russia, Canada, Libya and Iran, among others, oil prices are expected to firm up during second and third quarter of the year, it added.
A tightening market
Improving oil prices have been driven by a tightening market, with production cuts across a number of global producers. Opec’s efforts to set production limits, in addition to commitments to the Vienna Agreement, have resulted in significant reductions in output by leading oil producers.
Opec-11 compliance reached 106 per cent in February, with aggregate production falling by 812 kb/d. Non-Opec compliance improved to 52 per cent in February, from 25 per cent...
NBK Capital Partners a leader in alternative investments has advised on the acquisition of 100 per cent of King Integrated American School (KIAS) located in the fast-growing King Mariut area within Alexandria Egypt. The acquisition through NBK Capital Partners portfolio company Kaumeya Language Schools (KLS) builds on its partnership with KLS initially formed in 2016 and will enable the further development of one of the leading international schools in Alexandria. The city of Alexandria alone has one million students of which 20 percent are enrolled in private schools. Established in 2015 KIAS serves the King Mariut area and neighbouring districts. This catchment area has over 100 000 households growing at seven percent rate annually due to urbanization trends and the industrialization of surrounding areas according to research conducted by Sagaci consultancy. Following the acquisition the school will be...
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NBK Capital Partners, a leader in alternative investments, has advised on the acquisition of 100 per cent of King Integrated American School (KIAS), located in the fast-growing King Mariut area within Alexandria, Egypt.
The acquisition – through NBK Capital Partners’ portfolio company Kaumeya Language Schools (KLS) – builds on its partnership with KLS, initially formed in 2016, and will enable the further development of one of the leading international schools in Alexandria.
The city of Alexandria alone has one million students of which 20 percent are enrolled in private schools. Established in 2015, KIAS serves the King Mariut area and neighbouring districts. This catchment area has over 100,000 households, growing at seven percent rate annually due to urbanization trends and the industrialization of surrounding areas, according to research conducted by Sagaci consultancy.
Following the acquisition, the school will be...
NBK-Egypt - a member of NBK Group reported EGP988.8 billion (equivalent to KD16.9 million or 55.2 billion) in net profits for the first half (H1) of 2018 up 36.07 per cent compared to EGP726.7 million for H1 2017. Total assets reached EGP65.12 billion as of the end of June 2018 up 10.37 per cent compared to EGP59.06 billion for the end of December 2017. Total customers deposits grew by 16.34 per cent for the same period to reach EGP47.54 billion compared to EGP40.86 billion for the end of December 2017. While customer loans and advances reached EGP38.39 billion as of end 1H2018 growing at 13.20 per cent year-on-year compared to EGP33.91 billion for the end of December 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 ...
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NBK-Egypt - a member of NBK Group – reported EGP988.8 billion (equivalent to KD16.9 million or $55.2 billion) in net profits for the first half (H1) of 2018, up 36.07 per cent compared to EGP726.7 million for H1 2017.
Total assets reached EGP65.12 billion as of the end of June 2018 up 10.37 per cent compared to EGP59.06 billion for the end of December 2017. Total customers deposits grew by 16.34 per cent for the same period to reach EGP47.54 billion, compared to EGP40.86 billion for the end of December 2017. While customer loans and advances reached EGP38.39 billion as of end 1H2018, growing at 13.20 per cent year-on-year, compared to EGP33.91 billion for the end of December 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 ...
National Bank of Kuwait-Bahrain (NBK Bahrain) the branch of NBK Group in Bahrain reported net profits of BD55 million ( 144.5 million) for the first half (H1) of 2018 compared with BD46.1 million for H1 2017 a growth of 19.4 per cent. NBK-Bahrain s total assets increased by 13 per cent y-o-y to BD6.048 billion compared with BD5.359 billion for the same period of previous year. While total shareholders equity increased by 18 per cent y-o-y to BD642.330 million compared with BD545.482 million for the same period of previous year. Customer deposits increased by 24 per cent y-o-y to BD3.244 billion compared with BD2.611 billion for the same period of previous year. Isam Al-Sager NBK Group chief executive officer said: Once again NBK Group proves its dominance in the regional market and solidifies its leadership position through the outstanding performance of yet another one of its regional branches NBK-Bahrain. These soli...
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National Bank of Kuwait-Bahrain (NBK Bahrain), the branch of NBK Group in Bahrain, reported net profits of BD55 million ($144.5 million) for the first half (H1) of 2018 compared with BD46.1 million for H1 2017, a growth of 19.4 per cent.
NBK-Bahrain’s total assets increased by 13 per cent y-o-y to BD6.048 billion, compared with BD5.359 billion for the same period of previous year. While total shareholders’ equity increased by 18 per cent y-o-y to BD642.330 million compared with BD545.482 million for the same period of previous year.
Customer deposits increased by 24 per cent y-o-y to BD3.244 billion compared with BD2.611 billion for the same period of previous year.
Isam Al-Sager, NBK Group chief executive officer said: “Once again, NBK Group proves its dominance in the regional market and solidifies its leadership position through the outstanding performance of yet another one of its regional branches, NBK-Bahrain. These soli...
Kuwait s consumer spending index increased 8.5 per cent year-on-year (y/y) in June supported by a pickup in the consumption of durables and non-durables said the National Bank of Kuwait (NBK) in its latest Economic Update. The end of Ramadan helped boost spending on those components the bank said in the Update. Meanwhile spending on services declined due to an early summer but still maintains robust growth relative to last year. Firmer oil prices now hovering at three-and-a-half year highs and improving consumer confidence which increased at its strongest pace in six years in June continue to support spending. Momentum may soften due to the summer lull but is expected to remain robust throughout the rest of 2018 according to NBK. Spending on durables continued to show strength recording an increase of 10.8 per cent y/y in June. It was supported by a pick-up in the purchases of electronics and luxury goods which had mor...
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Kuwait’s consumer spending index increased 8.5 per cent year-on-year (y/y) in June, supported by a pickup in the consumption of durables and non-durables, said the National Bank of Kuwait (NBK) in its latest Economic Update.
The end of Ramadan helped boost spending on those components, the bank said in the Update.
Meanwhile, spending on services declined due to an early summer but still maintains robust growth relative to last year. Firmer oil prices, now hovering at three-and-a-half year highs, and improving consumer confidence, which increased at its strongest pace in six years in June, continue to support spending. Momentum may soften due to the summer lull, but is expected to remain robust throughout the rest of 2018, according to NBK.
Spending on durables continued to show strength, recording an increase of 10.8 per cent y/y in June. It was supported by a pick-up in the purchases of electronics and luxury goods, which had mor...
Bahrain s non-oil growth is expected to average 4.6 per cent over 2018-19 underpinned by government infrastructure spending on a record 8 billion worth of projects the kingdom s largest ever pipeline said the National Bank of Kuwait (NBK) in its latest Economic Update. Capital spending spans a variety of projects in transportation water and power and housing sectors the report added. Thanks to continued output gains in the non-oil sector real GDP growth accelerated in 2017 to 3.9 per cent from 3.2 per cent in 2016. The services sector financial and social & personal services especially and the construction sectors were major contributors to the non-oil sector s impressive growth of 5.0 per cent last year the highest in the GCC. Such spending has been bolstered over the past few quarters by the allocation of funds under the Gulf Development Program a pledge by Bahrain&r...
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Bahrain’s non-oil growth is expected to average 4.6 per cent over 2018-19, underpinned by government infrastructure spending on a record $8 billion worth of projects—the kingdom’s largest ever pipeline, said the National Bank of Kuwait (NBK) in its latest Economic Update.
Capital spending spans a variety of projects in transportation, water and power, and housing sectors, the report added.
Thanks to continued output gains in the non-oil sector, real GDP growth accelerated in 2017 to 3.9 per cent from 3.2 per cent in 2016.
The services sector—financial and social & personal services especially—and the construction sectors were major contributors to the non-oil sector’s impressive growth of 5.0 per cent last year, the highest in the GCC.
Such spending has been bolstered over the past few quarters by the allocation of funds under the Gulf Development Program—a pledge by Bahrain&r...
While the GCC sovereign issuance was quiet in the first quarter (1Q) of the year at 12 billion still-favourable borrowing costs high oil prices and continued foreign investor interest are expected to keep market access relatively easy this year a report said. Meanwhile global and GCC monetary policy has been tightened while international and regional bond yields moved higher triggered by reflationary concerns added the latest Economic Update released by the National Bank of Kuwait (NBK). GCC yields moved higher alongside US Treasuries and escalating regional tensions. This was despite firmer oil prices Brent rose 9 per cent quarter-on-quarter (q/q) in Q1 to 67/bbl which would typically contribute to lower yields. Yields on 8-9 year sovereign debt for GCC sovereigns rose 40-64 bps in 1Q18 with Saudi and Bahrain up the most. The yield on the latter breached 7 per cent for the first time while Kuwaiti debt was the lowest yieldi...
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While the GCC sovereign issuance was quiet in the first quarter (1Q) of the year at $12 billion, still-favourable borrowing costs, high oil prices, and continued foreign investor interest are expected to keep market access relatively easy this year, a report said.
Meanwhile, global and GCC monetary policy has been tightened, while international and regional bond yields moved higher triggered by reflationary concerns, added the latest Economic Update released by the National Bank of Kuwait (NBK).
GCC yields moved higher alongside US Treasuries and escalating regional tensions. This was despite firmer oil prices – Brent rose 9 per cent quarter-on-quarter (q/q) in Q1 to $67/bbl – which would typically contribute to lower yields. Yields on 8-9 year sovereign debt for GCC sovereigns rose 40-64 bps in 1Q18, with Saudi and Bahrain up the most. The yield on the latter breached 7 per cent for the first time, while Kuwaiti debt was the lowest yieldi...
NBK Capital Partners and Gulf Capital have partnered for the first time to make a strategic investment in Jordan s Classic Fashion Apparel Industry one of the biggest private sector employers in Jordan with over 24 000 employees. The investment will enable Classic Fashion Apparel to enter the next stage of its development accelerating the expansion of production facilities. Founded in 2003 Classic Fashion Apparel has achieved significant growth and is now a recognised global industry player with an annual turnover of over 450 million. The company has longstanding relationships with global retail giants such as Walmart Under Armour Adidas American Eagle JC Penney Hanes and GAP. Producing over 60 million apparel pieces annually and accounting for a 27 per cent share of Jordan s apparel exports the company is making a considerable contribution to Jordan s economy. Yaser Moustafa senior managing director at NBK...
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NBK Capital Partners and Gulf Capital have partnered for the first time to make a strategic investment in Jordan’s Classic Fashion Apparel Industry, one of the biggest private sector employers in Jordan with over 24,000 employees.
The investment will enable Classic Fashion Apparel to enter the next stage of its development, accelerating the expansion of production facilities.
Founded in 2003, Classic Fashion Apparel has achieved significant growth and is now a recognised global industry player, with an annual turnover of over $450 million. The company has longstanding relationships with global retail giants such as Walmart, Under Armour, Adidas, American Eagle, JC Penney, Hanes and GAP. Producing over 60 million apparel pieces annually and accounting for a 27 per cent share of Jordan’s apparel exports, the company is making a considerable contribution to Jordan’s economy.
Yaser Moustafa, senior managing director at NBK...
NBK Capital Partners an alternative investments firm that leads flexible growth capital investments in mid-sized companies in the Middle East North Africa (Mena) and Turkey has announced the successful first closing of a real estate fund with 75 million in fund commitments raised primarily from prominent regional institutions pension funds family offices and HNWIs (high net worth individuals). DIFC-based NBK Capital Partners which has advised on investments exceeding 1billion is aggregating a portfolio of Shari a-compliant real estate assets acquired primarily through sale-leaseback transactions across the logistics healthcare and education sectors. It aims to capitalise on attractive underlying market dynamics such as the rise of e-commerce and regional demographic trends driving demand for healthcare and education. The firm is targeting a final closing for the fund by the end of 2018 with 150 million in...
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NBK Capital Partners, an alternative investments firm that leads flexible growth capital investments in mid-sized companies in the Middle East, North Africa (Mena) and Turkey has announced the successful first closing of a real estate fund with $75 million in fund commitments, raised primarily from prominent regional institutions, pension funds, family offices and HNWIs (high net worth individuals).
DIFC-based NBK Capital Partners – which has advised on investments exceeding $1billion – is aggregating a portfolio of Shari’a-compliant real estate assets acquired primarily through sale-leaseback transactions across the logistics, healthcare and education sectors.
It aims to capitalise on attractive underlying market dynamics such as the rise of e-commerce and regional demographic trends driving demand for healthcare and education.
The firm is targeting a final closing for the fund by the end of 2018, with $150 million in...
NBK Capital Partners an alternative investments firm that advises on providing flexible capital to mid-sized companies in the Mena region has successfully exited its inaugural 157 million private debt vehicle. Returning a 17 per cent gross Internal Rate of Return (IRR) on investments in the UAE Saudi Arabia Kuwait and Turkey NBK Capital Mezzanine Fund I ranks among the top performing private debt funds in its vintage year. Raised in 2009 the region s first mezzanine fund a hybrid of debt and equity financing was a pioneer for flexible long-term direct lending launched in the wake of the global financial crisis to meet the financing needs of mid-sized firms unable to secure attractive terms with banks constrained by regulatory and structural changes. The closure of NBK Capital Mezzanine Fund I represents the successful exit of eight investments in the portfolio for NBK Capital Partners the altern...
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NBK Capital Partners, an alternative investments firm that advises on providing flexible capital to mid-sized companies in the Mena region, has successfully exited its inaugural $157 million private debt vehicle.
Returning a 17 per cent gross Internal Rate of Return (IRR) on investments in the UAE, Saudi Arabia, Kuwait and Turkey, NBK Capital Mezzanine Fund I ranks among the top performing private debt funds in its vintage year.
Raised in 2009, the region’s first mezzanine fund – a hybrid of debt and equity financing – was a pioneer for flexible long-term direct lending launched in the wake of the global financial crisis to meet the financing needs of mid-sized firms unable to secure attractive terms with banks constrained by regulatory and structural changes.
The closure of NBK Capital Mezzanine Fund I represents the successful exit of eight investments in the portfolio for NBK Capital Partners, the altern...
Saudi Arabia s SR978 billion ( 260 billion) budget for 2018 is sends a strong signal that the government is serious about supporting the economy especially the non-oil sector and pursuing its Vision 2030 objectives said the National Bank of Kuwait (NBK) in its latest Economic Update. The expansionary budget will also be supplemented by an additional SR133 billion ( 35 billion) from the Public Investment Fund (PIF) and the National Development Fund (NDF). Revenue projections appear to be based on an oil price of 59 per barrel (/bbl) with minimal scope for crude production gains given Saudi Arabia s commitment to an extension of the Opec production cut agreement to end-2018. As a statement of intent the 2018 budget is a powerful one. Not only is this the largest ever budget more than a trillion Saudi riyals if the PIF/NDF outlays are included but it is also one designed to send a strong signal to economic actors both in...
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Saudi Arabia’s SR978 billion ($260 billion) budget for 2018 is sends a strong signal that the government is serious about supporting the economy, especially the non-oil sector, and pursuing its Vision 2030 objectives, said the National Bank of Kuwait (NBK) in its latest Economic Update.
The expansionary budget will also be supplemented by an additional SR133 billion ($35 billion) from the Public Investment Fund (PIF) and the National Development Fund (NDF). Revenue projections appear to be based on an oil price of $59 per barrel (/bbl), with minimal scope for crude production gains given Saudi Arabia’s commitment to an extension of the Opec production cut agreement to end-2018.
As a statement of intent, the 2018 budget is a powerful one. Not only is this the largest ever budget – more than a trillion Saudi riyals if the PIF/NDF outlays are included – but it is also one designed to send a strong signal to economic actors both in...
Qatar s non-oil growth in 2018 has been downgraded to 3 per cent from 4 per cent before and is weaker than the 3.5 per cent now expected for 2017 said the National Bank of Kuwait (NBK) in its latest Economic Update. NBK s forecast for GDP growth in 2018 has been revised down to 3.5 per cent from 4.0 per cent before. This will still be a pickup from the 1.2 per cent expected for 2017 with the rebound driven by the start-up of the long-delayed Barzan gas project which could boost real hydrocarbon sector GDP by 4 per cent. Given the scope for further delay at Barzan and the potential for an intensification of the diplomatic dispute the risks to NBK s growth forecast are on the downside the Update said. The initial shock to the economy from the dispute which started in June has passed with imports returning close to pre-crisis levels new trade routes established and capital flows more stable. But the economy remains under pressur...
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Qatar’s non-oil growth in 2018 has been downgraded to 3 per cent from 4 per cent before, and is weaker than the 3.5 per cent now expected for 2017, said the National Bank of Kuwait (NBK) in its latest Economic Update.
NBK’s forecast for GDP growth in 2018 has been revised down to 3.5 per cent from 4.0 per cent before. This will still be a pickup from the 1.2 per cent expected for 2017, with the rebound driven by the start-up of the long-delayed Barzan gas project, which could boost real hydrocarbon sector GDP by 4 per cent. Given the scope for further delay at Barzan and the potential for an intensification of the diplomatic dispute, the risks to NBK’s growth forecast are on the downside, the Update said.
The initial shock to the economy from the dispute which started in June has passed, with imports returning close to pre-crisis levels, new trade routes established and capital flows more stable. But the economy remains under pressur...
Oman s economic growth will slow to just 0.3 per cent this year its weakest since 2011 on the back of a drop in oil output before recovering to 2.8 per cent in 2018 as gas production expands and the non-oil economy steadies a report said. There remain notable downside risks however noted the latest Economic Update from the National Bank of Kuwait (NBK). The government s large budget deficit could require sharper-than-forecast fiscal consolidation if the financing climate deteriorates perhaps from the anticipated global tapering of monetary policy which could also affect the government s plans for economic diversification. And inflation is set to rise following the introduction of new taxes. On the upside Oman is benefitting from trade diversion due to the ongoing rift between Qatar and the Saudi-led bloc. Growth to be supported by rising gas production; non-oil steady ...
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Oman’s economic growth will slow to just 0.3 per cent this year – its weakest since 2011 – on the back of a drop in oil output, before recovering to 2.8 per cent in 2018 as gas production expands and the non-oil economy steadies, a report said.
There remain notable downside risks, however, noted the latest Economic Update from the National Bank of Kuwait (NBK).
The government’s large budget deficit could require sharper-than-forecast fiscal consolidation if the financing climate deteriorates – perhaps from the anticipated “global tapering” of monetary policy – which could also affect the government’s plans for economic diversification. And inflation is set to rise following the introduction of new taxes. On the upside, Oman is benefitting from trade diversion due to the ongoing rift between Qatar and the Saudi-led bloc.
Growth to be supported by rising gas production; non-oil steady<...
NBK Capital Partners the private equity arm of National Bank of Kuwait said it has completed the acquisition of the Dubai campus of a K-12 international curriculum school in a sale-leaseback transaction. This comes in line with the firm s strategy to acquire income-generating real estate assets across the GCC said a statement from NBK Capital Partners. The school operator has leased back the campus over the long term and will continue to operate and manage the school. The real estate investments platform augments the highly successful Private Equity and Private Credit investment businesses at NBK Capital Partners it stated. Our Mena Real Estate platform focuses on aggregating a portfolio of existing income-producing assets and delivering a stable yield to investors remarked Yaser Moustafa the senior managing director of NBK Capital Partners. We are actively pursuing opportuniti...
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NBK Capital Partners, the private equity arm of National Bank of Kuwait, said it has completed the acquisition of the Dubai campus of a K-12 international curriculum school in a sale-leaseback transaction.
This comes in line with the firm’s strategy to acquire income-generating real estate assets across the GCC, said a statement from NBK Capital Partners.
The school operator has leased back the campus over the long term and will continue to operate and manage the school.
The real estate investments platform augments the highly successful Private Equity and Private Credit investment businesses at NBK Capital Partners, it stated.
"Our Mena Real Estate platform focuses on aggregating a portfolio of existing income-producing assets and delivering a stable yield to investors," remarked Yaser Moustafa, the senior managing director of NBK Capital Partners.
"We are actively pursuing opportuniti...
Clifford Chance has advised National Bank of Kuwait (NBK) on the establishment of its 3 billion Global Medium Term Note (GMTN) programme and its inaugural Rule 144A/Regulation S international debt capital markets issuance thereunder. The debut offering comprises 750 million 2.75% notes due 2022 issued on May 30 2017 and admitted to trading on the Irish Stock Exchange. The offering constitutes the first bonds to be offered and sold to qualified institutional buyers in the United States in reliance on Rule 144A and Regulation S from a GCC financial institution since 2009 said a statement. NBK s programme establishment and debut issuance is the latest in a series of Rule 144A compliant offerings from issuers in the State of Kuwait coming shortly after the inaugural sovereign offering and the earlier debut issuance by petrochemical corporate Equate transactions on which Clifford Chance also advised. The NBK transaction con...
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Clifford Chance has advised National Bank of Kuwait (NBK) on the establishment of its $3 billion Global Medium Term Note (GMTN) programme and its inaugural Rule 144A/Regulation S international debt capital markets issuance thereunder.
The debut offering comprises $750 million 2.75% notes due 2022, issued on May 30, 2017 and admitted to trading on the Irish Stock Exchange. The offering constitutes the first bonds to be offered and sold to qualified institutional buyers in the United States in reliance on Rule 144A and Regulation S from a GCC financial institution since 2009, said a statement.
NBK's programme establishment and debut issuance is the latest in a series of Rule 144A compliant offerings from issuers in the State of Kuwait, coming shortly after the inaugural sovereign offering and the earlier debut issuance by petrochemical corporate, Equate, transactions on which Clifford Chance also advised.
The NBK transaction con...
National Bank of Kuwait (NBK) the country s leading lender is offering a golden opportunity to customers to buy a property in UAE through a new mortgage service financing up to 70 per cent of the property value. In a simple and straight forward procedure our customers can easily apply for a mortgage at any NBK branch in Kuwait or UAE remarked NBK UAE general manager Tareq Al Mudhaf. We finance up to 70 per cent of the property value with the possibility of prepayment up to 20 years at competitive interest rates starting from 3.99 per cent pa. We also help our customers valuate insure and register their properties he stated. NBK has the largest international network between all banks in Kuwait providing customers with the best investment opportunities and services. Its international network consists of many of the world s leading financial centers including London New York Pa...
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National Bank of Kuwait (NBK), the country's leading lender, is offering a golden opportunity to customers to buy a property in UAE through a new mortgage service, financing up to 70 per cent of the property value.
“In a simple and straight forward procedure, our customers can easily apply for a mortgage at any NBK branch in Kuwait or UAE,” remarked NBK UAE general manager Tareq Al Mudhaf.
“We finance up to 70 per cent of the property value with the possibility of prepayment up to 20 years at competitive interest rates starting from 3.99 per cent pa. We also help our customers valuate, insure and register their properties,” he stated.
NBK has the largest international network between all banks in Kuwait, providing customers with the best investment opportunities and services.
Its international network consists of many of the world’s leading financial centers including London, New York, Pa...
National Bank of Kuwait (NBK) the largest Kuwaiti bank and a highly rated organisation in the Arab world has a long association with Kuwait Petroleum Corporation. The bank has consistently reported healthy profits. NBK reported a record net profit of 152 million (KD44.3 million) during the first three months of 2005 compared with 108 million for the same period last year an increase of 39 per cent. It reported record net profits of 515 million during 2004 up 24 per cent from 2003. Among Arab banks NBK has the most extensive regional and international network which includes branches subsidiaries and representative offices in New York London Paris Geneva Beirut Jordan Bahrain Qatar and Singapore. NBK has plans for expansion in the near future to cover Saudi Arabia Iraq and China. NBK has the largest local network within Kuwait consisting of 47 branches. Shaikha Khaled Al Bahar general manager of the National Bank of Kuwait corporate banking gr...
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National Bank of Kuwait (NBK), the largest Kuwaiti bank and a highly rated organisation in the Arab world, has a long association with Kuwait Petroleum Corporation.
The bank has consistently reported healthy profits. NBK reported a record net profit of $152 million (KD44.3 million) during the first three months of 2005 compared with $108 million for the same period last year, an increase of 39 per cent. It reported record net profits of $515 million during 2004, up 24 per cent from 2003.
Among Arab banks, NBK has the most extensive regional and international network, which includes branches, subsidiaries and representative offices in New York, London, Paris, Geneva, Beirut, Jordan, Bahrain, Qatar and Singapore.
NBK has plans for expansion in the near future to cover Saudi Arabia, Iraq and China.
NBK has the largest local network within Kuwait consisting of 47 branches.
Shaikha Khaled Al Bahar, general manager of the National Bank of Kuwait corporate banking gr...
