Al Ahli Bank posts KD23m net profits for the first quarter 2008

The earnings per share for the first quarter 2008 was 21 fils, an increase of 24% as compared to 17 fils during the same period in 2007. All financial indicators have witnessed a remarkable increase during the first quarter of this year.

Commenting on these financial results, Mr. Ahmed Yousuf Behbehani, the Chairman of Al Ahli Bank stated the following: "The improved performance of ABK during the first quarter of 2008 has been the outcome of focusing on growing operational profits, successful application of a clear strategy of investment in quality assets, providing innovative banking services, products and solutions, upgrading the quality of services provided and effective management of resources and control of costs and expenses."

ABK was the winner of the Arabian Business News Magazine for the best retail services during the year 2007. The prizes were awarded to the business sector of Kuwait during 2008. The awarding of this prize to ABK has been the outcome of significant achievements which have been a landmark in the banking industry over 40 years in service of the Kuwaiti national economy and in providing quality banking services and products to the nationals and expatriates in Kuwait and the region.

Believing in the role of the human resources, the Bank has paid attention to the development and training of its staff to upgrade efficiency. It employs and trains the national citizens to qualify them for leading positions in the Bank. Investment in human resources is one of the basic elements in achieving outstanding financial performance.

Mr. Behbehani concluded his speech by expressing his optimistic view over the performance of the Bank, hoping that this record performance will continue with increasing profits during 2008.