National Bank of Kuwait (NBK) has posted a
net profit of KWD225.6m ($818.1m) for the nine months to 30
September, flat compared with the same period last year but ahead
of analyst forecasts.
NBK’s total assets increased by 5%
year-on-year to KWD13.1bn at the end of the third
quarter.
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NBK operates a branch network of 71
outlets in Kuwait with a retail banking market share of 30%
and a credit card market share of around 50%; group wide, NBK’s
branch network totals 177 across 17 countries.
NBK’s segmentation strategy incorporates
its ‘Zeina’and ‘Al Azraq’ products for the youth
market; ‘Shabab’ for university
students,’Mustaqbal’for first-jobbers and the
priority/premium banking ‘Thahabi’ initiative.
In the first quarter, NBK said that it was
delaying further international expansion due to unrest in the Gulf
region.
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