ABK holds first half 2023 analyst conference call

ABK holds first half 2023 analyst conference call

KUWAIT: Al-Ahli Bank of Kuwait (ABK) recently held its analyst conference for the first half of 2023. Attended by Shiamak Soonawalla, Group Chief Finance Officer Abdulaziz Jawad, Chief Strategy Officer and Yaqoub Almulla, Senior Manager of Investor Relations, the call involved a discussion of ABK’s first-half financial results. Hosted by EFG Hermes, an extensive presentation was conducted on the Group’s performance and financial indicators during the first half of the year. Furthermore, the speakers also shared insights on ABK’s upcoming strategic plans.

Ongoing growth Soonawalla expressed his delight in delivering yet another successful half-year performance. He said, “ABK’s results demonstrate good progress and delivered responsible growth for our shareholders with an achieved Net Profit of KD 23.9 million for the first half of 2023, representing a 30 percent increase over the comparable half of 2022. Furthermore, Earnings per Share reached 11 fils, an increase of 38 percent compared to 8 fils in the previous year.” The Group CFO affirmed that the financial performance in the first half of 2023 reflects continued improvement in underlying operating drivers, strong loan growth, lower provisions and impairments, a healthy balance-sheet, comfortable liquidity levels, and as olid capital base.

Furthermore, he highlighted that the Bank continues to