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    KFH   KW0EQ0100085

KUWAIT FINANCE HOUSE K.S.C.P.

(KFH)
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KFH: for the first Time in Kuwait, Smart Watches to Perform Transactions Through ATMs

11/14/2021 | 05:50am EST

For the first time in Kuwait, Kuwait Finance House "KFH" launches a service using smart watches and mobiles to perform banking transactions through ATMs at KFH branches and KFH.GO smart branches.

KFH Group Acting Chief Retail Banking and Private Banking Officer, Khaled Yousif Alshamlan said that KFH has achieved and added another success to its records in digital banking world. He noted that customers can now benefit from a variety of banking services through ATMs without using cards as these transactions are performed through available digital portfolios: KFH Wallet, Samsung Pay, Garmin Pay and Fitbit Pay.

Alshamlan indicated that the banking services which can be performed through digital portfolios include cash withdrawal, cash deposit, cheque deposit, inter-accounts transfers, transfers to KFH beneficiaries, transfers local and foreign banks, donations to charity institutions, cheque book request, account statement request, opening additional new account and investment deposits. He added that digital portfolios services through ATMs are provided to customers free of charge.

He indicated that this unique service affirms KFH pioneering position in providing innovative banking services and financial solutions that fulfil customers aspirations and enhance their banking experience. The service uses the most modern FinTech means. The service reflects KFH major success in implementing the digitalization strategy which has come a long way in strengthened KFH leading position worldwide.

A Variety of e-financial solutions

KFH provides customers with a variety of distinguished e-services which can be applied round the clock. This package includes online personal finance request service, opening new accounts for customers without visiting the branch, endorsement by e-signature through Haweyati application, local and foreign money transfers, investment deposits, opening gold account, buy/sell gold, cheque book request, instant printing of ATM card through QR Code, cheque deposit, follow up finance liabilities and instalments, view investment plans, follow up account balances and deposits, spot transfer service to Kuwait Turk using RippleNet, digital portfolio service through smart watches and mobiles that provide smart digital payment methods according to the highest standards of safety and security in cooperation with Samsung, Fitbit, Garmin and KFH Pay and other e-banking services.

Smart KFH Go Branches

KFH provides XTM and KFH Go smart branches which have reached 10 branches spread in various areas of Kuwait including Kuwait International Airport.

KFH Go branches enable customers to benefit from the various banking services including: instant cheque book printing, instant banking cards printing without prior request, receipt of gold biscuits (10g), account opening (gold, saving, winner, automated service), buy/sell gold, cash withdrawal without card and using mobile through QR Code, civil ID or phone No., printing Iban certificate, commercial transactions request "Murabaha", credit and prepaid cards request, update information and mobile No., banking cards activation, opening deposits and accounts and many other finance and banking services.

The number of e-banking transactions performed by KFH customers through KFHonline or mobile applications exceeded 113 Million transactions during the 9 months period Jan. - Sept. 2021, thus marking a growth ratio by 26% compared to the same period last year. These results affirm the efficiency of KFH banking services and their compatibility with the customers' requirements and aspirations.

Disclaimer

Kuwait Finance House KSC published this content on 14 November 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 14 November 2021 10:49:01 UTC.


ę Publicnow 2021
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Financials
Sales 2021 798 M 2 643 M 2 643 M
Net income 2021 233 M 772 M 772 M
Net Debt 2021 - - -
P/E ratio 2021 32,7x
Yield 2021 1,94%
Capitalization 7 623 M 25 233 M 25 249 M
Capi. / Sales 2021 9,55x
Capi. / Sales 2022 8,74x
Nbr of Employees 15 000
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Technical analysis trends KUWAIT FINANCE HOUSE K.S.C.P.
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TrendsBullishBullishBullish
Income Statement Evolution
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Mean consensus UNDERPERFORM
Number of Analysts 5
Last Close Price 0,91 KWD
Average target price 0,56 KWD
Spread / Average Target -38,8%
EPS Revisions
Managers and Directors
Abdulwahab Essa Abdulwahab Al-Rushoud Group Chief Executive & Treasury Officer
Shadi Ahmed Yacoub Zahran Group Chief Financial Officer
Hamad Abdulmohsen Hamad Al-Marzouq Chairman
Srood Amed Sherif Group Chief Information Officer
Abdullah Mohammed Abdullah Al-Haous Group Chief Operations Officer
Sector and Competitors
1st jan.Capi. (M$)
KUWAIT FINANCE HOUSE K.S.C.P.9.38%25 344
THE SAUDI NATIONAL BANK13.35%86 297
ALINMA BANK16.44%14 871
QATAR ISLAMIC BANK (Q.P.S.C.)9.11%12 981
MASRAF AL RAYAN (Q.P.S.C.)8.81%12 898
BOUBYAN BANK K.S.C.P.5.95%8 809