Kuwait Finance House KSC : Al-Omar during interview with CNBC Arabia: KFH new strategy focuses on sustainable profit
January 10, 2012 at 06:37 am
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Post Date : 10/01/2012
Al-Omar during interview with CNBC Arabia: KFH new
strategy focuses on sustainable profit
Kuwait Finance House (KFH) CEO Mohammed Al-Omar stated
during an interview with CNBC Arabia that the bank's new
five-year strategy is based on a detailed plan with
achievable goals. He explained that this strategy focuses
on achieving sustainable profits through ensuring stable
operative revenues as a result of improving the
performance of credit and investment portfolios. He went
on to say that clients will witness world-class level of
services, since clients seek fast and quality services,
and asserted that the client will be serviced through one
center, and one accounts manager who can meet all the
requirements of the client.
He went on to say that the strategy prioritizes clients
through offering them services and products of added
value, which allows KFH to cement the clients' loyalty to
the bank, based on the human and technological experience
that KFH possesses. He noted that KFH's overseas
subsidiaries will play a more effective role, and
revealed that KFH has 380 branches that are well located
in Europe, Turkey, the GCC, and the Far East, which
allows the bank to reinforce its presence.
Moreover, he remarked that KFH has an existing structure
but needs to ensure that all technical and administrative
aspects have been tackled, in order to make clients feel
at ease after such changes. He said that KFH will follow
a carefully set plan that ensures smooth transition to
the new work concept.
Furthermore, he mentioned that regarding the forecasts
for 2010, he asserted that pessimism continues to
dominate the global economy arena as a result of
financial consequences, such as the sovereign debts
crisis in some European countries that might affect other
parts of the world.
Concerning Kuwait, he stated that KFH believes that the
development plan can ensure suitable sources of income if
it is executed skillfully, especially after receiving a
nod by the Cabinet and the National Assembly.
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Kuwait Finance House KSCP, formerly Kuwait Finance House KSC (KFH), is a Kuwait-based company that operates in the banking and financial sectors. The Bank is primarily engaged in the provision of banking, investment, real estate, trading and leasing activities in accordance to Islamic Sharia principles. The Bank is active, along with its subsidiaries, in three business segments: the Treasury segment includes liquidity management, international murabaha investments, exchange of deposits with banks and financial institutions, and international banking relationships; the Investment segment manages direct equity and real estate investments, investments in subsidiaries and associates, and international leasing, and the Banking segment provides a range of banking services and investment products to corporate and individual customers; commodity and real estate murabaha finance; local leasing, and wakala and istisnaâa facilities.
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