ABK net profits exceeds KD45.2m

The earning per share for the first half year 2008 was KD41 Fils.

Key financial indicators have improved during the second quarter of this year.

Commenting on these financial results, Mr. Ahmed Yousuf Behbehani, the Chairman of Al Ahli Bank stated the following:

"Al Ahli Bank of Kuwait continued its strategy achieving many of its targets, which have set forth landmarks for the banking industry. The bank has shown high professional expertise of doing business in the service of the local economy and in providing high quality banking services and products to the citizens and expatriates of the State of Kuwait."

"The improved performance of Al Ahli Bank of Kuwait has been a natural result of the successful application of the strategic plan set by the management. The bank has shown flexible performance and careful growth in the expansion of operational activities and attracts of deposits; supported by the expertise in retail and corporate banking. During the last seven years, the net profits increased 8 times, the operational profits increased 4 times; the earning per share increased 6 times. The share price increased 10 times and the ROE increased 12 times." added Mr. Behbehani.

The cash dividends increased from 9% to 45%.
ABK credit rating was upgraded by the international classification agencies to grade A1, the non-performing loans has decreased to the least ratio among the local banks", added Mr. Behbehani.

The bank endeavors to upgrade its financial performance and focus on increasing the operational profits, expanding the banking business activities, increasing the number of local branches, providing innovative banking products and tools of high quality to service better his customers and achieve their satisfaction.