Total assets reach KD 5.9 bln, up 23%

Kuwait, 31 July 2022: Al Ahli Bank of Kuwait (ABK) reported a Net Profit of KD 18.4 Million for the first
half of 2022, compared to KD 15.1 Million in the same period of 2021. Operating Profits grew by 13
percent to KD 45.3 Million, from KD 40.3 Million compared to the same period last year and Earnings Per
Share (EPS) grew by 29% to 9 fils over the same period. These results are reflective of the success of the
Bank’s long-term strategy to enhance its revenues by continuously improving its products and services
to customers.

Total Assets increased by 23 percent to reach KD 5.9 Billion compared to the same period last year,
while loans and advances grew by 17 percent to reach KD 3.6 Billion and Customer Deposits grew by 26
percent to reach KD 4.1 Billion. The Bank’s Balance Sheet remains healthy with strong capital, liquidity
and impaired loan coverage ratios. The Non-Performing Loan (NPL) ratio stood at 1.5 percent and NPL
coverage at 364 percent. The Capital Adequacy Ratio (CAR) was 16.6 percent while Shareholders’ Equity
stood at KD 507 Million.

Commenting on the results, Mr. Talal Behbehani - Chairman of Al Ahli Bank of Kuwait said, “The
strategy being executed at ABK has led to continuous improvement in balance sheet growth,
accelerated adoption of digitization, strong asset quality trends, and strengthened capital position.
Looking at the big picture, the Bank continues to invest significantly in its offerings and people to ensure
sustainable and profitable growth. With a focus on customer-centric products, strategic partnerships
and talent, we are reinforcing our core, ensuring that we are on solid footing to leverage and grow the
opportunities at the horizon.”

ABK was rated A2 (stable) from Moody’s and A (stable) from Fitch. The ratings are a testament to the
strength and depth of ABK’s management team and its strategic efforts to transform and modernize the
Bank digitally.

Mr. George Richani, ABK Group Chief Executive Officer said, “During the first half of the year, ABK
undertook various initiatives to streamline and enhance its services and elevate customer satisfaction
levels. The Bank launched the ‘Smart Funds Transfer Form’, an easy-to-use form for local and
international remittances. With a focus on seamless navigation and amplifying user experience, ABK
upgraded its Interactive Voice Response Service (IVR) by introducing Automatic Speech Recognition
(ASR), enabling customers to interact with a computer regularly in English and Arabic.”
Corporate citizenship is deep-rooted in ABK’s operational ethos. The Bank proactively collaborates with
non-profit organisations, government bodies, and community groups to create a positive impact across
all the markets it operates. The Bank has supported various sporting and wellbeing events, including the
Kuwait Crown Prince Cup, the Al Amiri Cup and the Al Amiri Hospital Health Awareness Run, reaffirming
its position as a responsible corporate citizen.
ABK also continues to support the Central Bank of Kuwait and Kuwait Banking Association’s joint
awareness campaign - ‘Diraya’ for the second consecutive year and uses all its channels to promote
financial literacy and ways in which customers can safeguard themselves.

To enhance its position as the ‘Employer of Choice’ for Kuwaiti Nationals, ABK has launched a suite of
training programs that fosters a futuristic digital-focused outlook and strengthens the concept of simpler
banking. The Bank recently graduated the 34 th group of trainees for its Retail Banking Division Academy,
focusing on developing national cadres through on-the-job training, classroom facilitation and
mentoring.