KUWAIT CITY, October 20: Warba Bank has received an award from Mastercard for the highest growth in credit card activation on digital wallets in Kuwait for the year 2024, which has led to increased customer confidence.

Shaheen Hamad Al Ghanem, CEO of Warba Bank, received the award in the presence of a Mastercard delegation, consisting of J.K. Khalil, Division President for East Arabia, Erdem Çakar, Country Manager for Kuwait and Qatar, and Ashish Bahl, Director, Account Management. High-level officials from Warba Bank, including Ahmed Faisal Al-Qatami, Chief Retail Banking Officer, Abdullah Nasser Al-Shuail, Senior Director of Branches, and Maher Ali, Senior Manager, also attended the ceremony. The Mastercard award is one of only a handful used to recognize the performance of strategic partners in the market.

Expressing his pride in Warba Bank receiving the award, Al Ghanem said: “This exceptional performance and growth achieved in 2024 reflects the success of the Bank’s highly disciplined strategy that constantly focuses on customer service.”

He added that Warba Bank achieved record revenues and profitability, maintaining its position as one of the fastest-growing banks in Kuwait.

Al Ghanem explained that this prestigious recognition from the global technology company enhances Warba Bank’s position as a leading financial institution in the country’s banking sector. It also testifies to the Bank’s ability to drive continuous growth.

He added: “The Retail Banking Group continued to achieve dynamic growth with expanding and attracting more clients. The Corporate Banking Group reported excellent performance in 2024, and is now considered the best team serving companies in the local banking industry. Meanwhile, the Treasury Group succeeded in strengthening its leadership in the market in terms of foreign customer exchange and played a significant role in the growth of the Bank’s customer deposit base.”

Al Ghanem stated that by innovating more banking products and providing an exceptional level of customer service, Warba Bank has strengthened its competitiveness in Kuwait’s banking sector, maintaining its position as the country’s most advanced bank in technological applications.

For his part, J.K. Khalil said: “We are pleased to present this award to Warba Bank as a testament to its commitment to developing innovative solutions that meet the evolving needs of its customers. As part of our ongoing partnership, we have made great strides in building a robust, seamless and secure payment ecosystem and promoting the adoption of digital transactions in Kuwait. We look forward to continuing our strong track record in fostering innovation in this space.”

The award was granted by Mastercard based on reports concerning digital wallets at the level of local banks in Kuwait, which reflect the role of Warba Bank in increasing the activation of credit cards on digital wallets.

Warba Bank has achieved great success in a short period of time, having emerged as a leader in providing innovative Sharia-compliant digital banking services to individuals and companies. In addition, it is one of the local banks with the largest number of shareholders. These are among the most prominent elements that make the Bank close to all segments of society.