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    NBK   KW0EQ0100010

NATIONAL BANK OF KUWAIT

(NBK)
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National Bank of Kuwait : NBK) launches Business Banking Plus

01/19/2021 | 05:56am EDT

NBK, National Bank of Kuwait,National Bank of Kuwait (NBK) launched Business Banking Plus with the aim to provide support to SMEs owners as part of its efforts.

Business Banking Plus provides services and solutions that help entrepreneurs grow their businesses and achieve their goals. Business Banking Plus provides a variety of services such as a dedicated experienced Business Banking relationship manager, fee discounts, Premium business concierge, preferential access for teller services, and complimentary Thahabi package to business owners, among others.

Bader Al-Mutawa, Assistant General Manager - Head of Business Banking at National Bank of Kuwait said, 'Launching the new service comes as part of endeavors to provide support, advice and top-notch banking services to entrepreneurs, with whom we maintain close relationships that grow and develop as they transform their ideas into economic entities that enrich the diversity of the national economy and competition on the local and regional levels.'

SMEs entrepreneurs rely on technological solutions in which NBK excels, locally and regionally, thanks to its progress in implementing its Digital Transformation Strategy, which was reflected in providing advanced digital services and adding many improvements to existing services, basically NBK Mobile Banking,' he added.

Al-Mutawa stressed that the bank strives to develop the solutions provided to entrepreneurs, in a way that contributes to enrich their banking experience and strengthen the existing partnership with them.

It is worth mentioning that during the COVID-19 pandemic, the bank is said to have been quick to take actions aimed to support SMEs and mitigate the fallout of the crisis on their business. Since the early days, it stopped charging fees on POS terminals and exempted customers from the monthly rental fees of POS terminals for 3 months. In addition, the bank did not stop communicating with entrepreneurs but rather intensified virtual meetings through different digital platforms to discuss with them integrated banking solutions available in an easy and safe way. With the gradual return to normal life, the bank assigned 8 additional branches to serve Business Banking Customers in addition to the Ahmad Al-Jaber Branch, with 5 of them tailored specifically for the benefit of Business Banking Plus customers.

(C) 2021 Electronic News Publishing, source ENP Newswire

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Financials
Sales 2021 902 M 3 006 M 3 006 M
Net income 2021 294 M 980 M 980 M
Net Debt 2021 - - -
P/E ratio 2021 21,6x
Yield 2021 3,06%
Capitalization 6 430 M 21 363 M 21 434 M
Capi. / Sales 2021 7,13x
Capi. / Sales 2022 6,77x
Nbr of Employees -
Free-Float 94,4%
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Mean consensus UNDERPERFORM
Number of Analysts 10
Last Close Price 0,89 KWD
Average target price 0,76 KWD
Spread / Average Target -15,3%
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Managers and Directors
Isam Jassim Al-Sager Group Chief Executive Officer
Nasser Musaed Abdullah Al-Sayer Group Chairman
Dimitrios Kokosioulis Deputy CEO-Information Technology & Operations
Sfikas Nikolaos Chief Information Officer & General Manager
Mohammed Al-Kharafi Head-Operations & General Manager
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