KUWAIT CITY, Nov 23: Kuwait Finance House (KFH) has been named the Best Retail Bank in Kuwait by The Asian Banker’s Middle East & Africa Awards program for 2024.

These awards are the most rigorous, prestigious and transparent award programs for retail banking, fintech, risk management, sustainable green finance, and banking services in the Middle East and Africa region. Financial institutions are selected based on their vision, ability to offer top-notch financial services in the banking sector, as well as their major achievements and best practices.

Financial institutions are selected based on several criteria such as strong business processes that lead to consistent and profitable performance. It recognizes financial institutions for their vision, execution and market leading propositions that make a positive impact on their business and the local consumers, in addition to customer experience, consistent financial performance, corporate strategy, brand and digital journey.

During the awards’ ceremony held in Dubai, KFH Deputy General Manager Products, Nehal Almosalem said that Best Retail Bank in Kuwait award, which is part of The Asian Banker’s Middle East & Africa Awards program, reaffirms KFH's excellence in retail banking services, which serve the largest segment of customers. She pointed out that KFH has always been keen to enhance customer confidence and satisfaction, and keeping abreast of their aspirations to offer them the best innovative banking services and products according to the highest quality standards.

She added: "KFH has achieved significant successes, driven by the Group's acquisition of Ahli United Bank Group and the operational integration with the (formerly) Ahli United Bank - Kuwait. These milestones mark a new chapter in KFH's journey as the largest bank in Kuwait by market capitalization and the world's second-largest Islamic bank by assets. Additionally, KFH recorded outstanding financial results and growth across most key indicators. These achievements enable KFH to deliver exceptional value to its customers by offering innovative and unique banking services and solutions."

Almosalem noted that the diversity and comprehensiveness of banking services offered by KFH aim to meet the needs of all customer segments. These services encompass a wide range of accounts, deposits, cards, financing options, and more, delivered through an extensive network of branches and various electronic channels.

"This underscores the bank's commitment to always prioritizing customer satisfaction at the core of its strategy. Such dedication has placed KFH at the forefront of the financial sector in Kuwait and globally, enhancing its ability to boost its market share and achieve remarkable progress in the retail banking sector. This is especially evident in light of its remarkable success in digital transformation and the launch of innovative digital banking solutions tailored to meet its customers' needs," she commented.

Almosalem said that KFH is moving forward in leading the digital transformation of banking services to meet the needs of customers who aspire for innovative banking services and technological solutions that combine ease of access, speed, quality, security and innovation as part of simple banking experience.