Kuwait's Best Bank for Asia 2019
Kuwait Finance House
Kuwait Finance House is strong to the core; for 2018, third-quarter net profit rose 22.7% year on year, while net financing income jumped 25.4% in the same period. Its Islamic banking credentials make it a worthy winner of this award.
A global pioneer in its field, in 1977 KFH became the second Islamic bank ever to open its doors to the public.
One of the safest banks in the Middle East, with a market capitalization of $13 billion, it has enjoyed a stellar few years; its shares, which are listed on the Kuwait Stock Exchange, hit a record high in January 2019.
Kuwait Finance House’s network has steadily grown over the years to include 500 branches, of which 14 are in Malaysia, where it offers retail banking services and has participated in some of the country’s more striking and successful real estate projects.
Under the leadership of group chief executive Mazin Al-Nahedh, Kuwait Finance House proudly claims to be the only Shariah law-compliant financial provider that serves both Malaysia and the GCC region, as well as Turkey and Germany.
KFH is also a leading global underwriter of Shariah-compliant bonds. In 2018, it underwrote 15 sukuk worth a total of $8.11 billion, edging Kuala Lumpur-based Maybank into second place.