Mubasher: The National Bank of Kuwait (NBK) plans to increase its market share in the Egyptian market, mainly in the retail banking sector by providing cutting-edge solutions, the CEO of the NBK Group said.
NBK’s new branches in Saudi Arabia have begun operations, with a further focus on boosting the number of the customers and asset management, Isam Al Sager added in a statement.
The top official further noted that the bank’s branch in Paris was turned into a subsidiary in a bid to enhance NBK’s presence in Europe in the long term.
Boubyan Bank, which is a 59.15% Islamic banking unit of NBK, contributes to diversifying the bank’s profits and stepping up its position in the domestic market.
During the first quarter of 2019, NBK reported a 15.1% year-on-year profit increase to KWD 107.73 million, from 93.59 million in Q1-18.
The lender said last Sunday that its Mobile Banking App has seen more than 14 new updates and services over the course of 2018 and the beginning of 2019.