Kuwait Finance House (KFH) has won the “Bank of the Year 2023 – Kuwait” award from The Banker, the world`s most prestigious banking magazine owned by the Financial Times Group.

The winners are selected based on their robust financial performance and strategic advantages, either by investing in novel technology or innovating new cost-effective methods to expand their operations and increase customer satisfaction.

On this occasion, KFH Acting Group Chief Executive Officer, Abdulwahab Iesa Al Rushood said that receiving the “Bank of the Year 2023 – Kuwait” award from The Banker further affirms KFH's prominence and expertise in Kuwait's banking industry. Additionally, it highlights KFH's significant role in being at the forefront of the Islamic banking sector and its ability to provide innovative banking solutions and services that cater to customers’ needs.

He added that the award reflects KFH’s record financial results and sustainable growth due to the ideal implementation of the Bank’s strategy, strong operational performance, responsible banking practices, risk management, and the enhancement of the solvency and creditworthiness of KFH Group.

He highlighted the pioneering position that KFH enjoys as the largest bank in Kuwait in terms of assets, and the first among listed companies on Boursa Kuwait in terms of market capitalization. This leading standing reflects the remarkable capabilities and the high grasp KFH has in assisting companies and leading mega financing deals. 

A sustained trust

Al Rushood mentioned that the recognition reflects KFH`s leadership in different aspects, customers` constant trust in KFH’s innovative financing products and services, strong brand, and the added value provided to them through the Bank’s innovation strategy, as well as the adoption of the latest world-class digital solutions in the industry.

It is worth noting that the digital transformation of the banking services is a significant milestone in KFH’s banking journey, as it contributes to enhancing the Bank’s efficiency, financial performance, strong profitability, and offering high quality innovative services through its cutting-edge digital infrastructure that meets customers` aspirations.

He pointed out that the recent various accomplishments, including The Banker’s award, confirm KFH’s successful business model, quality of its services, efficiency of its digital transformation strategy, as well as its pioneering role at different levels. These factors boost KFH`s standing, strong brand, and robust financial position. In addition, the approach which KFH follows is based on balancing innovation with investment in technology and providing the best banking solutions that suit the customers’ needs. This approach helped improve customer experience by offering a branchless experience through fast and safe means that enrich their banking journey.

KFH has made significant strides in implementing the digital transformation strategy in a timely manner by adopting the latest Fintech solutions, leading the Sukuk market and Islamic financial services, in addition to the ability to meet the different needs of customers.

KFH has a wide variety of activities and offers Shariah-compliant investment and banking services that adhere to the latest technologies and international financial standards.

Founded in 1926, The Banker is the world’s premier banking and finance resource, providing comprehensive economic and financial information.

A specialized committee, compromising editors and field experts, oversees the nomination criteria for the ‘Bank of the Year’ awards for five months. This is why these awards are considered highly prestigious and widely recognized in the banking sector.