Al Tijari declared Net Profit of KD 44.0 million for half year 2022


Al Tijari announced a net profit of KD 44.0 million for the half year ended 30 June 2022 compared to KD 19.1 million for the same period of last year. Further, earning per share for the current period is 22.2 fils as opposed to 9.8 fils same period last year.

 Financial highlights

 Half Year 2022 

 Half Year 2021


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




 Operating Income before provision (KD Million)




 Fee and Commission Income (KD Million)




 Net gain in dealing of foreign currency (KD Million)




 Customer Loans and advances (KD Billion)




 Total Assets (KD Billion)




Robust regulatory ratios comfortably exceeded the Central Bank’s statutory requirement, Capital Adequacy Ratio 18.4% against regulatory requirement of 12.0%. The available capital buffer is the core strength of the Bank, available for any potential growth in our loan portfolio in line with our strategic plan. Similarly, Liquidity Coverage Ratio 185.0%, Net Stable Funding Ratio 105.1% and Leverage ratio 11.8%, all are well above the Central Bank’s statutory requirements.
Sheikh Ahmad Duaij Al Sabah, the Bank’s Chairman, is delighted to present the Bank’s results, stating that significant growth in net profit by KD 24.9 million (half year 2022 KD 44.0 million vs. half year 2021 KD 19.1 million) during half year was mainly because of improved business scenarios and lower provision charge due to loan loss recovery of KD 12.3 million.

Economic and Business update

On economic outlook, Sheikh Ahmad expressed that looking ahead; Kuwaiti GDP is expected to grow at 8.5% mainly on account of increase in oil prices as well as positive momentum in non-oil related business.  Furthermore, having stable system liquidity led by Central Bank Discount Rate hikes, Al-Tijari is optimistic on business growth which is evident from successful on-boarding of big-ticket syndicated transactions during first half of 2022 and looking forward for many more to come.
On business updates, Sheikh Ahmad mentioned that, during the first half of the year,

Al-Tijari has opened two new branches, equipped with the latest technology and digital services, one located in the heart of Kuwait city at Fahad Al Salem Street and the other  in Saad Al-Abdullah to meet customers’ needs.
Commercial Bank of Kuwait – acting as the lead arranger and bookrunner for arranging conventional trade finance tranche for signing syndicated facility contract amounting $292 Million in favor of Septco International Petroleum Company in participation with a group of banks. The financing package has been completed and, all contracts and the financing documentation concluded. The consortium aimed at financing the contract for the construction of Jurassic Production Facility No. 4 in North Kuwait “JPF-4” awarded by the Kuwait Oil Company to Septco International.

Digital Enhancements

Sheikh Ahmad highlighted that in line with international industry trends in terms of digital payments innovation, the Bank has been embracing and encouraging the Digital Payment Ecosystem, where customers are able to transact without physical cash through wallets, QR codes, T-Pay and Near Field Communication, etc.

Additional features on the Internet Banking and Al-Tijari Mobile Application:

  • Customers can request opening “Domestic Help” accounts
  • Al-Tijari customers can add temporary beneficiaries for local transfers made only to other Al-Tijari customers, to facilitate non-recurrent payments.
  • Registered devices management feature has been added to the Mobile application whereby customers can add or delete devices (up to four devices)

As for Corporate Customers, additional enhancements’ were implemented on the Corporate Internet Banking enabling corporate online users to re-issue and manage corporate e-Gov cards online.

Customer solutions and innovations

Sheikh Ahmad informed that the T-Lockers which customers can access 24/7, are now available in all Al-Tijari branches and customers can also collect debit, credit and prepaid cards in addition to banking documents and vouchers. Al-Tijari Fixed Deposits has been enhanced with the flexible withdrawal of the accrued interest feature where customers can collect interest from their fixed deposits prior to the maturity date, this flexibility allows the customers to transfer the accrued interest to any of their accounts through their Mobile application and withdraw as needed.

Go Green Initiatives
Sheikh Ahmad proudly announced there has been significant efforts towards converting the culture within the Organization in support of developing a “Go Green” mind-set through various behaviour transformational initiatives to name few; firstly QR codes have become a predominant way of converting printouts and brochures to e-publications wherever possible, Secondly the Bank has adopted multiple Energy Saving tactics within its premises and, thirdly enhanced the recycling and re-usage efforts through education among staff as well as Usage of Environmentally friendly products.

Society and social responsibility
As for society servicing, the Bank continued its vigorous contribution to social events and sponsors a number of social activities and initiatives particularly those marking the celebration of occasions. The Bank has had an extensive social program during the holy month of Ramadan whereby it provided care and sponsorship to a large number of humanitarian and social events and initiatives organised for serving all segments of society with  special focus on the most needy segment, physically challenged people, patients and social care institutions.

On customer awareness front, Al-Tijari continues its support for the second 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.

As for Corporate Governance, the Bank has satisfied the requirements of the Central Bank of Kuwait in line with CBK Articles of Association in respect of the mandatory number of independent members in the board of directors. The complementary elections were undertaken during the ordinary general assembly held on 23 June 2022 using the cumulative voting system. It is worthy to note that Al-Tijari is considered the first local bank to implement a cumulative voting system to elect its board members.

Thank You Note
Sheikh Ahmad concluded by extending his deep thanks and appreciation to the Bank’s Executive Management and all staff for their dedication and rigorous efforts to make Al-Tijari as Bank of Choice.