Al Sager: NBK’s consistent profitability is driven by solid fundamentals – ZAWYA

Al Sager: NBK’s consistent profitability is driven by solid fundamentals – ZAWYA

Our expansion strategy is focused on our key growth markets while integrating our operations across all locations to increase the contribution to the group. Our strategy outside Kuwait focuses on increasing retail operations in Egypt, and growing AUMs for our wealth management business in Saudi Arabia. NBK has reached an advanced stage in the implementation of the digital transformation strategy, and it introduced its customers with continuously outstanding banking products and services.. "The banking sector capitalized on higher discount rates in 2017 and 2018, improving the banks' NIMs. The CBK cut the discount rate - once last year - in Q4 2019; compared to three consecutive cuts by the US Federal Reserve throughout the year.. "NIMs were pressured by CBK's decision to cut discount rate by 0.25% in 2019, compared to flat rates in 2018.. Investment spending accounts for 16% of total public expenditure; a positive indicator as the state investment spending is the key driver of the economic activities and the credit growth.. NBK currently focuses on bolstering presence in main markets and increasing market share, mainly, in Saudi Arabia and Egypt, where the bank made a remarkable progress, capitalizing on the growth of the international operations, the bank's