As part of its commitment to supporting economic development efforts in Kuwait, Kuwait Finance House (KFH) participated in the "Kuwait's New Era" conference, organized by Kuwait Direct Investment Promotion Authority (KDIPA) in collaboration with The Business Year magazine.

Held at the Four Seasons Hotel Kuwait, the conference convened leaders, policymakers, and experts to strategize on achieving Kuwait's ambitious development goals, focusing on fostering foreign direct investment, advancing economic diversification, and accelerating critical national projects.

"Since KFH inception in 1977, Kuwait Finance House has been more than just a financial institution; it has been a pioneer in Islamic banking and a partner in Kuwait's development. Our commitment to sharia-compliant banking has guided us in building trust and delivering value to our stakeholders," stated Group Chief Executive Officer of Kuwait Finance House (KFH), Khaled Yousef AlShamlan at the event.

AlShamlan said that “In 2024, KFH reported a historic net profit of around KD 602 million, marking a 3% increase from the previous year. Net Financing income for the year 2024 reached KD 1.14 billion; an increase of 18.7% compared to the previous year.  Net operating income for the year 2024 reached around KD 1 billion, an increase of 9.0% compared to the previous year.”

“KFH continues to lead all banks and companies listed on Boursa Kuwait, with a current market capitalization exceeding KD 13 billion. These figures are not just numbers; they represent our resilience and our unwavering commitment to financial stability, he added.

New Era

He further explained that KFH has a presence in 8 countries worldwide with a network of over 600 branches. This expansion enhances KFH’s ability to serve customers and to contribute to Kuwait's vision of becoming a regional financial hub.

Meanwhile, he emphasized that KFH leadership in digital innovation and delivering state-of-the-art financial solutions has enhanced customer experience and advanced modern banking. "KFH customers processed more than 400 million banking transactions through KFH online App in 2024, confirming the remarkable success of KFH digital platforms," AlShamlan added.

Sustainable efforts

AlShamlan said that "sustainability is also a key subject of today’s event, and it is at the core of KFH operations. Our inclusion in the FTSE4Good Index, and our "A" rating by MSCI ESG Index underscore our dedication to environmental, social, and governance principles. We are proud to have released Kuwait's first carbon footprint report in the banking sector, establishing a benchmark for responsible banking.”

He added that Kuwait's new era is not just a phase of economic development; it is a testament to Kuwait's resilience and ambition.

“At KFH, we are committed to playing a key role in this journey and leveraging our strengths to contribute to Kuwait's sustainable growth and prosperity.”

It serves to note that the "Kuwait's New Era 2025" conference serves as a vital platform for discussing the profound economic transformations and developments.