Brief on Al Ahli Bank of Kuwait (ABK)
The foundation of Al Ahli Bank of Kuwait (ABK) in 1967 created a bank which is now renowned for the quality of its customer service and its range of financial products.
Today, the Bank serves retail and commercial customers in Egypt, Kuwait and the United Arab Emirates, providing seamless banking services across all its markets, facilitating consumer banking and business banking relationships across the Gulf and into North Africa.
In its home market of Kuwait, ABK operates through 31 centrally located branches, while in UAE, it has two full service branches located in Abu Dhabi and Dubai. In Egypt, through its acquisition of Piraeus Bank in Egypt, ABK Egypt operates 39 full service branches.
ABK’s long term regional aspirations have also led to strategic alliances with world-class financial partners. For example, its highly successful and popular co-branding with Emirates Airline on ABK credit cards has given cardholders the opportunity to earn and redeem Skywards Miles for Emirates flights, by simply using their cards.
In addition to its retail operations, the Bank also has a highly successful commercial side. Its Corporate Division focuses on financing for the construction, real estate and trade sectors, providing loans, letters of credit and guarantees, and payment services, while the Treasury and Investments Division provides effective foreign exchange and interest rate services and advice for the Kuwait, Gulf and international markets.
Through its subsidiaries, The Al Ahli Kuwaiti Fund and the Gulf Fund, ABK also offers top-performing mutual funds to its clients, consistently providing excellent returns for clients by investing in Kuwait and GCC equity markets.
ABK received numerous awards during 2016 including the ‘Best Bank Transformation in the Middle East’ by Euromoney, ‘Deal of the Year’ by The Banker – an FT Affiliate, ‘Best Retail Bank’ by Asian Banker ‘Retail Bank of the Year’ by The European, ‘Best Commercial Bank’ by Banker ME, ‘‘Employer of the Year’ by Naseba, and Bank of the Year by Arabian Business. ABK was also listed as one of the 50 safest banks in the Middle East by Global Finance.
The Bank continues to enjoy strong credit agency ratings of A2 from Moody’s and A+ from Fitch.
Over the last half century, ABK has grown to become one of the most respected and innovative Banks in the region. With a clear regional vison of strong leadership, simpler banking, and unrelenting focus on continual renewal and investment in its customer service, technology and products, ABK has set new benchmarks for banking in the Middle East and is well positioned to continue this path in the future.
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