Al Ahli Bank of Kuwait awarded Best Retail Bank in Kuwait at The Asian Banker International Excellence in Retail Financial Services Awards 2019
- Al Ahli Bank of Kuwait has successfully fulfilled its financial objectives
- The bank sets it apart in Kuwait via its customer centricity in a competitive regional landscape
- The bank launched a large number of digital customer-facing initiatives
Dubai, March 21st, 2019 - Al Ahli Bank of Kuwait was awarded Best Retail Bank in Kuwait at The Asian Banker International Excellence in Retail Financial Awards 2019. The awards ceremony was held in conjunction with The Excellence in Retail Financial Services Convention 2019at Conrad Dubai, U.A.E on March 21st, 2019.
In the picture: Members of the International Advisory Council of Excellence in Retail Financial Services Awards Programme; Wilson Chia and Richard Hartung; John Holder, Chief Technologist, Realities Centre;Spiros Margaris, Founder, Margaris Ventures; Stewart Lockie, General Manager, Al Ahli Bank of Kuwait
Al Ahli Bank of Kuwait has successfully fulfilled its financial objectives
Al Ahli Bank of Kuwait maintains its solid growth in retail banking business with a 8.6% Compound Average Growth Rate (CAGR) for the past three years. The bank has increased its retail fee income contribution by 9% in 2018 and reduced its cost-to-income ratio to 36.4% at the end of third quarter in 2018 as well. The expansion of the bank’s ATM network while significantly growing mobile and online usage help the bank increase the number of retail customers by 6.3%.
The bank sets it apart in Kuwait via its customer centricity in a competitive regional landscape
The bank sets it apart in Kuwait via its customer centricity in a competitive regional landscape. In addition to simplify several documentation workflow processes that have been delivered since 2016, the bank has opitimised 24 new processes in 2018 and had major impact on customer experience, approval accuracy, waiting approval time and trail. Through its live monitoring and reduced processes, the bank reduced average customer waiting time in branches to 3 minutes from 8 minutes.
The bank launched a large number of digital customer-facing initiatives
The bank’s renewed focus on 2018 was driving automation and Simplicity and putting greater emphasis on digital channels featuring ecosystem enhancement.Digital initiativeslike global customer account view and can be used to display UAE and Egypt accounts cross border. Hundreds of customers enjoy the simplicity of viewing all accounts authorized by using a single touch via the bank's Global View facility. Other notable initiatives include providing the customer with instant access to cash without card, the ability to push/ pull from other banks and personalised customer recognition and offers.
The International Excellence in Retail Financial Services programme is one of the most rigorous, prestigious and transparent awards programme for consumer financial services in the world. Covering all of the Asia Pacific, the Middle East and West Africa, the programme was instituted in 2001 to recognise the pursuit of excellence amongst retail financial institutions.The programme evaluates more than 300 banks and non-bank retail financial services players in more than 42 countries, via a rigorous audit-based approach. Detailed evaluation criteria for each category may be found at http://awards.asianbankerforums.com/retailfinancial/criteria-country
About The Asian Banker International
The Asian Banker is the region’s most authoritative provider of strategic business intelligence to the financial services community. The Singapore-based company has offices in Singapore, Malaysia, Manila, Hong Kong, Beijing, and Dubai, as well as representatives in London, New York, and San Francisco. It has a business model that revolves around three core business lines: publications, research services and forums. The company’s website is www.theasianbanker.com
You may visit the Excellence in Retail Financial Services Awards gallery at https://www.facebook.com/pg/TheAsianBanker/photos/?tab=album&album_id=10157080239284804
For further information on the collaterals for winning banks, please contact:
Mr. Alfred Labicassi
The Asian Banker