KFH: Integration Measures With AUBK Complete

9/21/2024 3:05:41 PM

(MENAFN- Kuwait News Agency (KUNA)) KUWAIT, Sept 21 (KUNA) -- Kuwait Finance House (KFH) has managed to fulfill all integration steps with Ahli United bank of Kuwait (AUBK) through the unification of operational processes into one system, KFH Chairman Hamad al-Marzouq said on Saturday.
In a news statement, al-Marzouq said the integration has been achieved in the least amount of time ever and at high efficiency, adding that the bank has made the largest unification step in the history of Kuwait's banking sector.
It was part of the biggest Acquisition bargain in the region, which led to building a giant financial institution, he noted.
The complete operational processes will benefit all customers in terms of the broadest geographical spread at regional and international markets, and products and services aligning with Islamic Sharia, he elaborated.
Customers have big opportunities to grow inside this large financial institution, while shareholders will get advantages of supported profits and high financial performance, he said.
Meanwhile, Abdulwahab al-Rashood, Acting CEO of KFH Group, said a big working team from all sectors has contributed to completing 250 phases of more than 2,000 tasks.
Through these steps, accounts and products of more than 280,000 customers from AUBK have been transferred, he said.
KFH enhanced its status as a giant global banking group with an appropriate financial profile that achieves sustainable profits and global competitions, with 640 branches in 12 countries, he said.
KFH comes first among all Kuwait's banks and companies listed on Boursa Kuwait in terms of market value exceeding KD 12 billion (about USD 39 billion), he pointed out. (end)
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