KFH only Kuwaiti bank in top 10 Middle East list, announces The Banker
- Kuwait: Sunday, July 26 - 2009 at 09:52
- PRESS RELEASE
The Banker magazine rated Kuwait Finance House (KFH) as one of the strongest 10 banks in the Middle East in total capital, which makes it the only Kuwaiti bank according to the magazine that issued a list in 2009 for the strongest 1000 banks in the world.
This award is one of the most prestigious awards granted to KFH recently, since it is about trust. The award was granted after thorough studies and close monitoring of KFH's development and growth, which is a natural byproduct to the trust the clients put in it.
KFH's deposits grew by 9% during the First Half of this year, which reveals KFH's ability to attract new clients by offering them saving and investment vessels that suit various client segments. It is worth noting that the clients' deposits climbed to reach KD6.8bn, which is the highest in the local market. The continuous increase in market share that made it reach 35% shows success, especially if the assets growth that was achieved in the First Half that reached 5% was taken into consideration, not to mention the great demand on products and services.
Moreover, KFH plays a significant role as a market maker in the local market and participates in major events. Mutual benefit governs KFH's relation with other institutions; especially that KFH sees money as a tool to develop the land to achieve prosperity for mankind, not to mention improving living standards of people and their families. This strategy made KFH one of the most successful Islamic banks.
KFH is one of the biggest Islamic banks that bred high caliber bankers that are now leading the Islamic finance industry in Kuwait and the world. He went on to explain that KFH is committed to follow the guidelines set by the supervisory bodies, such as its Fatwa and Shariah Department, in addition to other authorities and institutions concerned with supervising banks, such as the Central Bank of Kuwait.
Meanwhile, KFH continued to expand globally by establishing KFH-Turkey, not to mention operating in more than 20 countries with 176 branches around the world, which prompted many countries to ask KFH to operate on their lands.
KFH has achieved highest ratings from international rating agencies, in addition to receiving awards from global institutions. KFH was awarded World's Most Trusted Islamic Bank by World Finance, and topped The Banker's list for biggest 500 banking commercial brands for 2009, where it took first place among Arabs and its brand is worth $763m. KFH has also won Best Islamic Bank Award by News Islamic Finance for the second consecutive year, Best Innovative Islamic Bank, Best Islamic Bank in Kuwait for second consecutive year, Best Islamic Bank in Middle East, and Best Real Estate Services offered by an Islamic Bank from Euromoney.
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