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Sunday, January 19, 2025
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ABK Receives ‘Best Investor Relationship Bank’ Award from International Finance

publish time

19/01/2025

publish time

19/01/2025

KUWAIT CITY, Jan 19: Al Ahli Bank of Kuwait (ABK) is proud to announce that it has been awarded the title of Best Investor Relationship Bank – Kuwait by International Finance. This recognition highlights the Bank's commitment to excellence and its strong reputation within the financial community.

Abdulla Al Sumait, Acting Group Chief Executive Officer, and Abdulaziz Jawad, Chief Strategy Officer, proudly accepted the award during a distinguished ceremony held in Dubai, attended by numerous esteemed entities and institutions.

Expressing his gratitude for this recognition, Al-Sumait stated, "This award reflects our distinguished record in developing investor relations and our ongoing efforts to adopt transparency in disclosing the Bank's operational results and developments." He emphasized that continuous engagement with the investment community, both locally and globally, has been crucial in building and reinforcing robust relationships with investors. This is achieved through consistent communication with the Investor Relations Unit and active participation in various events and conferences.

Al Sumait also highlighted ABK’s significant achievement in successfully issuing USD 300 million AT1 bonds in 2024. This marked the Bank’s return to capital markets for the first time since 2018, with a remarkable coverage ratio exceeding 4.5 times the offered amount, showcasing strong trust and confidence from investors in the Bank’s stability.

Al Sumait concluded by thanking International Finance for its recognition which reflected the great confidence and leading position that the Bank enjoys in the banking sector. He added that ABK will continue to work on enhancing investors’ confidence in the upcoming period, which is considered as one of the Bank’s top priorities.

On his part, Jawad added that this award is a testament to the many advancements ABK has experienced in 2024, such as its upgrade to the Premier Market on the Kuwait Stock Exchange. This upgrade was made possible due to the Bank's adherence to the regulatory requirements set forth by the Capital Markets Authority and Boursa Kuwait. He reiterated the Bank's commitment to meeting investor needs through comprehensive disclosures regarding operations impacting financial indicators and ensuring value for traders and clients alike.

He noted, "ABK actively participates in various events and conferences to connect with investment groups, collaborating closely with Boursa Kuwait and other entities." He reiterated that the Bank is dedicated to employing best practices in investor relations, which has proven effective in establishing trust and credibility with analysts and shareholders.

Further addressing transparency, Jawad stated that the Bank follows a policy of complete openness in external communications, adhering to the highest international standards. The Bank has instituted quarterly online analysts' conferences on financial results to facilitate dialogue and responsiveness to inquiries.

In conclusion, Jawad emphasized that ABK will continue to develop strategic plans aimed at providing superior services and improving operational efficiency while enhancing communication with investors, financial analysts, and portfolio managers. This approach underscores the Bank's commitment to transparency and disclosure of its business results.