Al-Tijari News- 3rd Quarter
July-September 2009
CGM & CEO Message
Dear Staff..
It gives me pleasure to meet you once again in this issue of Al-Tijari News and I would like to congratulate all of you on the happy occasion of Eid Al-Fitr. As all of you know September 2008 witnesed the outbreak of the global financial crisis which will be remembered by all financial experts and bankers. In the wake of such serious financial turmoil, a number of major financial institutions have declared their bankruptcy or merger with other financial institutions or even have announced that they were sold to other financial institutions. One year after the outbreak of the global financial meltdown which seriously affected all GCC markets and Kuwait in the midst of globalization and open markets, growth rates declined largely. In the aftermath of the global financial crisis, Kuwait Stock Exchange witnessed sluggish performance and profits declined sharply. Nevertheless, our Bank reported profits of KD 66,9 million before provisions for the period ended 30 June 2009. However, the Bank's Management decided to transfer the largest portion of profits to provisions. The decision came in line with the conservative policy the Bank has adopted since the beginning of 2009 and which particularly aims at increasing the provision base to encounter the negative fallouts of the global financial crisis. A year after the outbreak of the global financial crisis, we see now signs that the crisis began to be less serious and markets started to recover and bounce back.
Let's join our efforts and work closely to pass and overcome these tough times all financial institutions have undergone and with our consolidated efforts we will achieve new accomplishments that we will pass in review together in the upcoming issues of Al-Tijari News. Once again, I congratulate you on the blessed Eid Al-Fitr wishing you all the best.
CBK Holds its Ordinary General Meeting
CBK's Ordinary General Meeting was held for discussing the accounting aspects related to evidencing the Bank's ownership of Bobuyan Bank's shares in view of the legal litigation by Investment Dar Company for the ownership of such shares along with the potential financial impacts in case judgments are passed for or against the Bank. Further, the Ordinary General Meeting approved the proposals submitted by the shareholders.
Head of Adv. & PR Dep.
At the outset, I wish to congratulate you on the blessed Eid Al-Fitr wishing you happy Eid.
Advertising and Public Relations Department plays a significant role which is clearly manifested in all society related activities sponsored by the Bank. Further, Adv. & PR Department constantly endeavors to participate and contribute in all societal activities out of its understanding that the Bank should have a true presence in the society as a leading banking and financial institution offering all aspects of support to all social activities and occasions and out of Adv. & PR Department's belief in the Bank's corporate social responsibility.
In addition to its leading role towards all the outdoor societal activities, Adv. & PR Department assumes an effective role within the indoor activities of the Bank, where the Department represents a liaison among the Bank's staff members and communicates with all the employees in all diverse occasions and this is highly demonstrated in the ongoing endeavors by Adv. & PR Department to organize "Al-Tijari Hobbyists" Exhibition which aims at boosting the social relationships among all the Bank's staff members.
In conclusion, it does not escape me to extend my thanks and appreciation to whoever participated significantly or simply to the success of our role as any such participation shall stand as a shining point that will contribute to the overall success of our Bank.
Honoring Two Groups of the New Recruits & Celebrating the Graduation of the Summer Training Program's Trainees
Within its ongoing concern to develop the skills of youth, CBK received groups of trainees in the summer training program designated by the Bank for training the children and the relatives of the Bank's employees during their summer leaves. This program aims at enhancing the remarkable relationships between the Bank and its employees and at providing trainees the opportunity to participate and get familiarized with a lot of information including a number of the administrative and banking business methods as well as methods of dealing with customers. At the end of the program, the Bank celebrated the graduation of a group of this program's trainees.
Furthermore, the Bank honored two groups of the new recruits who successfully passed "The New Recruits Program" which lasted for three months including on-the-job and theoretical training. The new recruits were trained, throughout the training period, on the professional basics of the banking business.
Al-Tijari Sponsors the issue of "2009 Industrial Manual"
CBK sponsored the Public Authority for Industry's issue under the title of "2009 Industrial Manual". On this occasion, Mr. Adel Al-Dhulaiee received Mr. Salem Al-Mehana - Head of Public Relations Section / the Public Authority for Industry to hand him over the financial contribution cheque where Mr. Al-Mehana praised the Bank's effective role in serving the society wishing the Bank's Management further success and prosperity.
Further, Mr. Adel Al-Dhulaiee indicated the Bank's communication with the Public Authority for Industry over the past years in a number of activities organized by the Public Authority for Industry.
Sponsoring High Education Institutions' Volleyball Tournament
CBK sponsored the Volleyball Champion for the High Education Institutions for the academic year 2008/2009 which was organized, under the patronage of Sheikha / Dr. Rasha Homoud Al Sabah, by the sporting committee. The championship was held at the Games Hall of Gulf University for Science & Technology where cups and medals were delivered to the wining teams.
On this occasion, Sheikha / Dr. Rasha Homoud Al Sabah extended her thanks and appreciation to the Bank for sponsoring the championship and also commended the Bank's significant role in sponsoring the sporting championships which accentuate its social role as a leading banking institution.
CBK Organizes Bowling Tournament for "My First Account" Kids & their Families
CBK organized the Bowling Tournament to "My First Account" kids & their families which was held at the Cozmo Discovery Mall with the objective of boosting the interaction between the Bank and its customers. The Bowling Tournament witnessed exciting competitions among kids and was a great opportunity for the kids & their families to enjoy the diversified fun programs & activities. At the end of the tournament, trophies were given to the top 3 winners and diverse gifts were distributed to a number of the attendants.
CBK a Prominent Trainer of the Fresh Graduates of College of Law
For the second consecutive year, CBK was selected as a prominent trainer among all the participating institutions in the training program designated for the fresh graduates of the College of Law and which was arranged by the Public Institution for Social Security during the period from 3 May - 18 June 2009. Given the Bank's consolidated efforts in making this program a success, PISS honored the CBK by awarding the Bank a certificate of appreciation. Further, the Bank expressed its thanks to PISS for its communication with CBK and for the trust it has placed in the Bank to train Kuwaiti fresh graduates.
Legal Department is currently training the students of College of Business Studies and the students of the American Academy - Law Section to qualify and equip them with the required skills for working as a legal associate in the future.
Tijari News wishes them and all the trainees success and prosperity
Joint Training Session Between CBK and American International Group
In cooperation with American International Group, CBK organized a training session for all branch staff members throughout the Bank's 53 branches to ensure the increasing awareness of its employees with the services offered by the Bank in collaboration with AIG with the objective of providing the Bank's customers with the best services. The new two products related to the insurance service offered by the Bank to its customers encompassed worldwide travel insurance and insurance against all types of accidents.
Supporting Rumaithiya Co-op Society's Activities
In keeping with its ongoing efforts towards the community service and out of its participation in the different social activities, CBK offered a financial contribution to support Rumaithiya 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 Rumaithiya Co-op Society for enhancing communication with all the segments of the society.
Al-Tijari Presents its Services at Al-Sha'ab Specialized Clinics and Other Commercial Complexes
In collaboration with Kuwaiti Cinemas, CBK received the customers of "@ Tijari Account" to enjoy playing diverse video games shown on the huge cinema screens in an enjoyable and exciting atmosphere and this was the first time for the youth account holders to play their favorite games on huge screens. Further, the Bank presented its services to the visitors of commercial complexes such as the Avenues mall, Marina mall, Souk Sharq, Ajyal mall and Al-Fanar mall with a view to familiarize them with the new & sophisticated services and accounts offered by the Bank to its customers.
In another front, CBK cooperated with Al-Sha'ab Specialized Clinics for providing full care and health awareness to sections of Digestive System, Internal Diseases, Heart Diseases, Gynecology, assistance during childbirth and medical help with procreation at Al-Sha'ab Specialized Clinics, where free medical check-up services were offered to the holders of credit cards issued by the Bank.
CBK Holds "Al-Tijari 6th Hobbyist Exhibition"
CBK successfully organized, for the sixth consecutive year, "Al-Tijari Hobbyist Exhibition" which is a good opportunity to exhibit the artworks and handcrafts produced by staff & their families. The Exhibition encompassed a wide variety of traditional designs which were marvelously handmade to accommodate all choices. The Bank endeavors to organize this annual Exhibition which is achieving more success year after year in view of the increasing number of staff participating in it where it provides the employees a chance to present their art, related thoughts and experience.
The Exhibition represents an important event for CBK, where all the Bank staff and their families meet together and this in turn boosts the social relationships among all staff members. Furthermore, the Exhibition demonstrates the Bank's support for the artistic, cultural and innovative talents of all staff members.
Al-Tijari Rejoices Girgean with Fahd Center's Children
In line with CBK's initiatives during the Holy Month of Ramadan and out of its continuous concern to participate in human activities, the Bank's Advertising & Public Relations Dep. celebrated Girgean with the sick children of Fahd Center at the Physical Medicine & Rehabilitation Hospital. Adv. & PR Department's staff were received by a number of Fahd Center's staff where they distributed Girgean to the children who enjoyed the funny cartoon characters that participated to draw a smile on their faces and to bring happiness to their hearts on this pleasant occasion. Fahd Center commended the services offered by the Bank in support of all the society's segments and commended this generous initiative by the Bank.
Sponsoring the 3rd Ramadan Tournament for Girls
Within the Bank's belief in its corporate responsibility towards the Kuwaiti society with all its segments, CBK sponsored the 3rd Sporting Tournament for Girls under the auspices of Skeikha / Na'ema Al Ahmad Al Jaber Al Sabah. The tournament's contests were held in Qurain Girls Club in a competitive and enthusiastic atmosphere prevailed among the participating teams.
On this occasion, Sheikha / Na'ema expressed her appreciation to the Bank for its sponsorship and financial contribution to the tournament, adding that such sponsorship is always expected from CBK which endeavors to sponsor Kuwaiti sports and society related activities in general.
CBK Staff Show their Solidarity with the Injured in Jahra Fire Tragedy
In a human gesture which reflects the genuine solidarity with the injured of Jahra Fire Tragedy and out of their belief that blood donation is an act of charity, CBK's employees donated their blood for the injured in this painful incident. AL-Tijari coordinated with the Blood Bank to receive a large number of CBK staff in order to facilitate the examination and donation measures that were carried out easily and smoothly. On its part, Advertising and Public Relations Department extends its appreciation to all Bank staff who donated their blood or prayed for the injured in this tragic fire.
Contribution to Umra Trip for Kuwait Blind Society
CBK offered a financial contribution to Kuwait Blind Society where a group of the Society's members left for the Holy Lands to perform Umra rituals.
On his part, Mr. Mansour Al-Enazi, Secretary to the Society expressed his appreciation and thanks to the Bank's proactive role in supporting all the activities which benefit Kuwait Blind Society. Further, the bank received a letter of appreciation from Mr. Al-Enazi for such human initiative.
Al-Tijari Celebrates Girgean with the Children of State Audit Bureau's Employees
CBK sponsored Girgean party for the children of State Audit Bureau's employees which was held at State Audit Bureau's cafeteria. Girgean party included fun programs and competitions for children where Girgean & gifts were delivered to children who enjoyed the funny cartoon characters which brought happiness to their hearts and created a pleasant atmosphere in Ramadan. Marketing Section presented the Bank's services to the party's visitors.