Al Tijari declared Net Profit of KD 69.2 million for half year 2023 - Interim Cash Dividend 12 fils per Share


Commercial Bank of Kuwait announced a net profit of KD 69.2 million for the half year ended 30 June 2023 compared to KD 44.0 million for the same period of last year. Earnings per share for the current period is 36.8 fils (June 2022: 22.2 fils)

Financial highlights:


Half Year 2023

Half Year 2022




Net profits attributable to Shareholders of the Bank (KD Million)







Operating profits before provision (KD Million)




Fee and Commission Income (KD Million)




Net gain in dealing of foreign currency (KD Million)




Customer Loans and advances (KD Million)




Total Assets (KD Billion)




Regulatory Ratios:

Regulatory ratios remained strong and continue to be well above the Central Bank’s statutory requirements. Capital Adequacy Ratio is at 16.1%, Liquidity Coverage Ratio 264.5%, Net Stable Funding Ratio 112.6% and Leverage ratio 10.8%.

Operational Performance:

Sheikh Ahmad Duaij Al Sabah, the Bank’s Chairman, is pleased to present the Bank’s results. Net Profit for half year 2023 at KD 69.2 million and reflects a strong year-on-year growth of KD 25.2 million (57.4%). The results and recommendation of 12 fils per share of interim cash dividend reflect a strong operating performance driven by higher benchmark interest rates, 6.9% increase in fee income and 12.7% growth in FX income. Net profit also benefitted from lower provision charge due to loan loss recoveriesfrom various customers.

Performance Ratios:

A strong operational performance resulted in a significant improvement in key performance metrics. Net interest margin 2.70% (HY 22: 2.04%) and Cost to income ratio 31.3% (HY 22: 34.4%).

Business updates:

Al-Tijari opened a new branch, equipped with latest technology and digital services, in Khairan to meet customer’s needs. Further, a “Book an Appointment” service is introduced whereby customers can book an appointment through the Mobile application to take a loan. The Bank also relocated its Salmiya branch to a much bigger place in Al Salam Mall.

Digital Enhancements, Innovation and Customer Solution

Sheikh Ahmad added that the Bank is equipped with the latest technology and digital services, enabling it to continue its successful digital transformation journey by improving its digital platforms and introducing new customer services.

Customers can now submit their "Contractual complaints" digitally through Al-Tijari mobile application, without the need to visit the Branch resulting in traffic reduction and enabling digital tracking of complaints. In addition, customers can also digitally request for “Account closure” and “Dormant account reactivation”. Additional features have been added to Al-Tijari mobile application to facilitate and enhance international transfers.

The “Business Islands” which are now available in most of Al-Tijari branches have been further enhanced with additional features to facilitate the customer journey through providing seamless services at one station.

Sustainability and Social responsibility

Al-Tijari showed a strong commitment to social responsibility throughout the year. As such, the Bank has issued its first comprehensive suitability report for the year 2022. The report covered all ESG areas and shed light on the Bank’s endeavours towards sustainable finance, go green advocacy and social responsibility as a socially responsible bank.

On customer awareness front, Al-Tijari continues its support for the third year to the “Let’s Be Aware” campaign launched by the Central Bank of Kuwait in cooperation with Kuwait Banks Association to spread banking and financial culture amongst various segments of society. The Bank uses its electronic channels and accounts on social media networks to educate customers on the importance of protecting their banking information against fraud attempts.

Thank You Note

Sheikh Ahmad concluded by extending his appreciation to the Central Bank of Kuwait and other regulatory authorities for their supervision and support to the banking sector and to the Bank’s Executive Management as well as all staff for their dedication and rigorous efforts to make Al-Tijari as Bank of Choice.