Annual Report 2022 - The Beginning of a Journey of Transformation
INTERNATIONAL OPERATIONS
The Group's International operations encompass the operations of its UAE branches & its ABK Egypt subsidiary contributing
around 40% of operating income & 37% of assets
Al Ahli Bank of Kuwait-UAE
First Kuwaiti Bank in the UAE and currently has three branches, located in Dubai,
Abu Dhabi and DIFC, respectively
.
Operating for over 40 years in Dubai where its Branch was originally opened to
support the needs of Kuwaiti businesses in Dubai
Abu Dhabi Branch opened in 2009, since then the Group has expanded its UAE
activities to provide retail deposit taking services to customers in the UAE, as well as
a range of financing and treasury solutions to corporate customers
•
DIFC Branch opened in Apr-18 and was granted the Category 1 license in Jan-22
Al Ahli Bank of Kuwait-Egypt
• Acquired in Nov-15, since renamed Al Ahli Bank of Kuwait - Egypt
•
Provides revenue and asset diversification and an opportunity to leverage economic
links between Kuwait and Egypt
Operating Income (KD million)
68.0
62.0
56.0
53.3
54.4
2020
2021
2022
YTD 2022
YTD 2023
Total assets (KD million)
2,312
2,189
1,940
2,017
1,428
•
Higher margins and growth rate potential in Egypt vis-à-vis Kuwait
•
45 branches and 110 ATMS spread across major cities in Egypt as of Sep-2023
2020
2021
2022
YTD 2022
YTD 2023
24
24View entire presentation