2nd Quarter
April - June 2009
CGM & CEO Message
Dear Staff…
It is my pleasure to meet you once again in this issue of Al-Tijari News to briefly pass in review the major achievements of our Bank over the previous period. Needless to mention that the financial results for the first quarter of 2009 is among the important events for every one of us. However, our financial results for the first quarter reflect the general prevailing economic and financial trend in the market and come in line with the ramifications of global financial crisis. CBK reported profits of KD 25 million before provisions. As you know, a number of major international prestigious banks, financial in-stitutions and companies failed to face this global financial turmoil and its negative fallouts on all international markets. However, and thanks to God first and then to your efforts, our Bank positively interacted with the crisis, even if profitability levels become lower, in accord with the sensitivity of this current period, still we are secured. Over the previous period, the Bank continued to launch and revamp a number of its products and services. The Bank launched, the new @Tijari Account targeting youth with several benefits that best suit the requirements of youth. Further, the Bank continues to participate in a number of economic activities and to offer sponsorship to a number of societal activities which demonstrate its social corporate responsibility as a leading financial institution.
In conclusion, and as I confirmed on many occasions, this critical period requires us to exert our utmost efforts to provide our customers with the best services that will always emphasize that Al-Tijari shall remain among the pre-mier providers of banking products and shall be the Bank of choice for customers.
CBK's Employees Ranked Second in the Credit Certification Program
CBK celebrated a number of its employees who successfully completed a training period of the Credit Certification Program organized by the Institute of Banking Studies (IBS). The graduation of this group of employees comes in completion of the Bank's training plan which focuses on the national labor within the "Kuwaitization" process adopted by the Bank.
Tijari News wishes further success and progress to the top performing staff.
Sponsoring the Activities of Kuwait's 3rd Public Relations Conference
For the third consecutive year, CBK sponsored the Kuwait's 3rd Public Relations Conference in the presence of prominent participants from Kuwait, Gulf region and all over the globe. The conference discussed the role of public relations in confronting the economic crisis. The Bank's sponsorship of this Conference reflects the Bank's strong belief in the proactive role of the public relations profession in supporting all the activities which serve the Kuwaiti society as well as the significant role assumed by the Bank's in-house Adv. & PR Department in strengthening the ties and communication whether among the Bank's staff members by providing support and honor to staff member or on the level of social, humanitarian, sporting and educational activities, where the Adv. & PR. Department is always supportive of such activities within the Bank's policy which aims at enhancing positive interaction with the society.
Internal Audit Department
"Internal auditing is an independent function that provides an objective assurance and consulting activity designed to add value and improve an organization's operations".
Today with the prevalent global financial crises which has affected the local market, as banks and financial institutions look to operate more efficiently in this challenging economic climate, the Internal Audit Function has reacted sufficiently and adequately to the changes in the Strategic and Operating environment by addressing the current business landscape, as well as the many changes that undoubtedly lie ahead by being a value added strategic partner with the bank management in being more operationally focused, business risk oriented, and acting as catalysts for advising improvements to enhance the Bank Governance Structure and Practices to assist in achieving CBK objectives.
CBK Offers Financial Contribution to Sulaibikhat Sporting Club
Within its ongoing support to the diversified sporting activities, CBK offered a financial contribution to Sulaibikhat Sporting Club with a view to encourage and enhance the sporting activities.
Ms. Wedad Al Naqeeb - Manager, Sulaibikhat Branch handed over the contribution cheque to Mr. Faleh Al Enazi - Secretary of the Club who expressed his appreciation to the Bank's Management for supporting the Club's football team indicating that such contribution will be highly commended by the Club's Board Members.
Al-Tijari Supports Meshrif Co-op Society's Activities
In keeping with its strong commitment and ongoing efforts towards the community service and out of its participation in the different social activities, CBK offered a financial contribution to support Meshrif Co-op Society's activities. It is worthwhile to mention that the Bank has previously contributed in sponsoring a number of the activities organized by Meshrif Co-op Society for enhancing communication with all social institutions.
Al-Tijari Participated in Banks & Chip Cards Exhibition and Forum
CBK participated in Banks & Chip Cards Exhibition and Forum held under the auspices of Mr. Mustafa Al Shemali, Minister of Finance. This Exhibition is considered a good opportunity to get the visitors familiarized with up-to-date technologies adopted by the Bank. Further, the Exhibition confirms that developments introduced to the banking system techniques help in providing customers with sophisticated banking products that are closely associated with advanced banking technology with a view of to meet customers' ever-changing requirements.
Offering Silver Sponsorship to the Health Week Organized by the Gulf University
In line with the Bank's ongoing support of students related activities, CBK patronized the Health Week organized by Gulf University. The Bank's participation in this event allows the University's students to get presented with the banking services offered by the Bank to its customers, where CBK set up a booth to present all its banking services and products with particular highlights on youth related new account "@ Tijari" and its privileges that suit the University's students.
CBK Honors the Outstanding Staff For Dec. 2008 & Jan. 2009
CBK honored a group of its outstanding staff members for Dec. 2008 & Jan. 2009 in recognition of their commendable efforts at work and as an incentive to urge them to exert further efforts towards customer service.
In this context, the Bank honored Ms. Samah Ja'far Serri - Fahaheel Branch, Ms. Mariam Hassan Al Hadb - West Mishref Branch, Ms. Shaimaa Ashkenani - Yarmouk Branch, Ms. Bashaier Lotfi Gom'a - Ray Branch (Shuwaikh), Mr. Mohammed Yousef Damarji - Vegetable Market Branch, Mr. Ahmad Elias Hussein - Omariya Branch, Ms. Jenan Abu Hemd - Souk Salmiya Branch,
Ms. Bashaier Qasem Al Hajri - Qurain Branch, Mr. Hassan Thurij Ebadi - Qurain Branch, Mr. Mohammed Hussam Al Bishara - Bneid Al Gar Branch and Ms. Heba Abalkheel - Andalus Branch.
The Bank awarded the top performing staff certificates of appreciation for their sincere efforts and persistence in upgrading business and maintaining a distinct customer service level.
Al-Tijari Honors Two Groups of the New Recruits
CBK honored two groups of the new recruits who successfully completed "The New Recruits Program" which lasted for three months including on-the-job and theoretical training sessions. The new recruits were trained, throughout the training, on the professional basics of the banking business.
CBK occupies a prominent position among Kuwaiti institutions in relation to "Kuwaitization Process", where the Bank constantly endeavors to attract the talented Kuwaitis for increasing the number of national human resources in the Bank.
Sponsorship of the State Audit Bureau's Soccer Tournament
Within its ongoing efforts to encourage all diversified sporting activities, CBK sponsored the State Audit Bureau's Soccer Tournament organized by the State Audit Bureau under the patronage of Mr. Abdul Aziz Al Roumi, Under-Secretary - the State Audit Bureau. This sponsorship by the Bank comes to emphasize the importance of sport and its support of all diverse activities.
Participation in the Career Opportunities Exhibition at the Australian College and the American University
CBK participated in the Career Opportunities Exhibition at the Australian College of Kuwait (ACK) under the patronage of the College's Chairman Dr. Abdullah Al Sharhan, where the Bank set up a special booth to present the available career opportunities to the students wishing to find employment opportunities prior to their graduation.
Further, the Bank set up a booth at the 5th Career Opportunities Exhibition organized by the American University of Kuwait, where such participation also aims at attracting the ambitious young Kuwaitis to join the Bank.
Al-Tijari Hosts Al-Shefaa Bent Ouf School for Girls & Al-Qadisia School for Girls
CBK's Marketing Team organized a lecture on the value of saving and its benefits and the way of saving at the tender ages to Al-Shefaa Bent Ouf School for Girls - Salwa Area. The accounts and services offered by the Bank to its customers were presented to the students. During the lecture, the students positively interacted with the event and raised a number of questions & queries to the lecturers with regard to kids account "My First Account" and youth account "@ Tijari" where the lecturers explained and simplified the information to the students who received memorial gifts from the Bank.
On another front, the Bank received a number of students from Al-Qadisia Intermediary School for Girls within a program specially designated for them to get them familiarized with the nature of work in banking sector and the services offered to the Bank's customers. Additionally, the Bank organized an orientation lecture to get the students acquainted with the ways of saving and the importance of saving for in the future.
Al-Tijari Participates in Al-Nebras Marathon
CBK participated in sponsoring the Marathon organized by Al Nebras School under the slogan of "Without Physical Handicaps". A number of Al Nebras School's students and other students from Bayan Area's schools including kindergarten and primary stages participated in the Marathon which was also attended by the families of participating students. The Bank's participation in this event comes to emphasize the importance of sporting activities and their positive effects on health. However, the Bank's participation in the Marathon was highly appreciated by Al Nebras School.
CBK Organizes a Training Program for LoYAC Students
In another step that demonstrates CBK's social responsibility towards all society segments, CBK in cooperation with Lothan Youth Achievement Center (LoYAC) organized a four-week training session for eleven male & female students holding qualifications related to banking business such as financing, accounting, economy and marketing. It is worthy to mention that (LoYAC) is a non profit making organization and aims at developing the skills and capabilities of youth by organizing training sessions through which they can apply the education they gained during their academic study. At the end of the training session, the trainees were awarded certificates and financial rewards in recognition of their commendable efforts during the training.
Al-Tijari Participates in Kuwait World Travel Exhibition
Under the sponsorship of the Ministry of Commerce & Industry and in the presence of a significant number of participants and visitors, CBK participated in Kuwait World Travel Exhibition 2009 which was held at Kuwait International Fair Grounds. The Bank set up a special booth to get the visitors and customers familiarized with the banking services it offers to its customers. The Bank's participation in this Exhibition comes out of its concern to have strong presence in such important gatherings and provides a good chance to the Bank for presenting its innovative banking services & products to its customers and non-customers alike.
CBK Sponsors the Celebration of Kuwait Engineers Society's Graduates and the Public Authority for Industry's Outstanding Employees
CBK sponsored the honoring celebration of Kuwait Engineers Society's graduates under the auspices of Mr. Talal Al-Qahtani, the Chairman of Kuwait Engineers Society. This sponsorship comes out of the Bank's concern to support the educational drive and contribute to the development of human resources for the common interest of Kuwait. During the honoring celebration, attendants praised the Bank's permanent support to the activities of Kuwait Engineers Society, where Mr. Adel Al Dhulaiee, Executive Manager - Retail Banking Division received a memorial shield on this occasion.
Further, the Bank sponsored the third annual honoring celebration of the Public Authority for Industry's top performing employees emanating from the importance of supporting the industrial entities and institutions operating for developing the domestic industry.
College of Administrative Sciences' Students in a Field Visit to CBK
The Services Marketing Section's students at the College of Administrative Sciences organized a field visit to Commercial Bank of Kuwait. During the visit students were given the chance to see how their theoretical studies & information can be practically experienced in the banking area. This visit aims to increase the awareness of universities' students with the banking business on one hand and to familiarize them with the new products & services offered by Al-Tijari to its customers, particularly the youth account "@ Tijari" which meets their requirements along with other services offered by the Bank with the objective of enhancing communication with its customer base.
Al-Tijari Sponsors the Sixth Arab Media Forum
CBK participated in the Sixth Arab Media Forum's activities demonstrating the Bank's belief in the importance of media at present which became a basic industry that can be relied upon for directly transmitting viewpoints to the public by means of visual and audible medium, Similar to several banking and financial institutions, the Bank basically relies on diversified mass media in presenting the services it offers to customers, where such mass media stand as bridges of mutual communication with the Kuwaiti society.
CBK Participates in the Orphan Day
Out of its concern to be present in the heart of all social related events, CBK supported the Orphan Day celebration organized by the General Activities & Media Department supervised by the Social Care Houses Sector. This support comes to further demonstrate the Bank's social responsibility towards this segment of orphans & residents of elderly home care as well as the disabled to assist Care Houses in performing their mission, and to enhance the social interaction between the Bank and all the segments of society.
Al Tijari Sponsors the Secrets of Arabic Writings Exhibition
CBK Sponsored the Secrets of Arabic Writings Exhibition in the presence of the National Council for Culture, Arts and Literature Secretary General Mr. Bader Al Rifaie. The Bank's sponsorship of the event came within its ongoing support to media, marketing and advertising events particularly that this exhibition was the first of its type in Kuwait and the Gulf region.