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    KFH   KW0EQ0100085

KUWAIT FINANCE HOUSE K.S.C.P.

(KFH)
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Kuwait Finance House K S C P : KFH Launches a Back-to-School Grand Financing Campaign

09/22/2021 | 06:12am EDT

Kuwait Finance House (KFH) Executive Manager - Automobiles & Equipment - Ahed Alessa said that KFH has launched Back-to-School grand financing campaign titled "we are back with happiness" that includes several financings offers.

The campaign provides an opportunity to avail several services and advantages provided to KFH customers and other banks on the start of a new scholastic year. It is a compacted campaign comprising several investment and finance products and programs. The campaign covers customers interested in purchasing or leasing new or used cars or boats, obtain educational finance, finance against a financial guarantee, open "Hesabi" account or investment plans "Jameati" during the period 12/09 - 12/10 at all KFH showrooms and branches.

Alessa emphasized in a press release that KFH provides, through the campaign, several advantages including 0% profit on new cars as part of a selected group presented by the agents including" Infinity, GMC, Porsche, Mercedes, BMW, Nissan, Honda, WW, Haval, Great Wall, Chery, Gator, Terralord" to fulfill the needs of all customers of luxurious and economic cars in addition to the competitive prices on a variety of cars as part of the leasing product with maintenance including "Toyota, Infinity, Lexus, WW, GMC. Kia and Jack" as well as used cars.

Regarding boats, marine equipment, motorcycles, the campaign provides multiple advantages e.g., a grace period for the first instalment maturity, no salary transfer certificate required, finance with competitive profit margin in addition to other advantages provided by various companies to KFH customers on a selected category of motorcycles.

He added that, for the finance vs financial guarantee customers the campaign offers competitive profit with a finance period approximating 10 years and flexible settlement methods. He indicated that this facility is a trade finance facility offered to individuals against a full financial guarantee on the total debt. Attachment shall be implemented on fixed deposits or customer's personal saving account. The product provides full coverage for the commercial needs of the individual. The finance limit shall be determined based on the value of the deposit or the attached amount from the saving account. The product provides other advantages including continued profit on deposits throughout the credit period, speedy completion of transactions and competitive profit.

Regarding "Hesabi" program, he said that KFH has offered "Hesabi" program with qualitative advantages as part of its continuous care of various customer categories, ages and interests. The product fulfils their need to obtain a distinguished service as per certain standards and methods that match global standards regarding quality, accuracy, and speed.

As soon as the social allowance is transferred to "Hesabi" program the customer enters the monthly draw on KD 250/- prize for 10 winners monthly in addition to monthly draws on 3 cars (Jeep Wrangler Sport) during the campaign "Win with Hesabi" for youth. Hesabi card is a prepaid card issued by KFH to "Hesabi" customers which provides special discounts for the holders as well as a prolonged prizes program during the year.

He indicated that the best investment for children is their university education. Accordingly, KFH has designed an investment plan for a long-term higher education "Jameati" to achieve a bright future for them by saving monthly amounts. According to "Jameati" plan the customer may withdraw 60% of the balance in the first year and 60% every year after the first withdrawal. The targeted amount may reach KD 120 Thousand. The investment plan "Jameati" is included in the Takaful Insurance. The Takaful insurance policy is issued automatically in the customer's name. In case of death or total disability (due to sickness or accident) during the plan term the Takaful insurance policy shall cover the remaining unpaid part of the targeted amount.

Alessa emphasized that the campaign contributes to the enhancement of the local market and the businesses of agents and suppliers. The campaign grants customers remarkable advantages to achieve their aspirations and needs as part of KFH endeavor to provide the best services, preserve customers base, attract new customers, increase KFH market share, highlight KFH role as a pioneer in driving economy. He added that KFH has made outstanding contributions to the retail market at the local level and contributed to the activation of the internal trade movement by diversifying its finance products and activities.

Disclaimer

Kuwait Finance House KSC published this content on 22 September 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 22 September 2021 10:11:06 UTC.


ę Publicnow 2021
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Financials
Sales 2021 806 M 2 678 M 2 678 M
Net income 2021 233 M 774 M 774 M
Net Debt 2021 - - -
P/E ratio 2021 27,5x
Yield 2021 2,42%
Capitalization 6 919 M 22 941 M 22 987 M
Capi. / Sales 2021 8,58x
Capi. / Sales 2022 7,92x
Nbr of Employees 15 000
Free-Float 51,6%
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Mean consensus UNDERPERFORM
Number of Analysts 5
Last Close Price 0,83 KWD
Average target price 0,54 KWD
Spread / Average Target -34,5%
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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
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