Kuwait Finance House (KFH) local and global geographic expansion plans that it has been following during the past years have succeeded, which is evident by its network of branches and subsidiary banks that reached 220 branches and banks that are found in prime local locations, in addition to existing in prime economic and financial centers; thus allowing it to have a competitive edge in the local banking sector. This success was a result of KFH’s accumulative experiences and successes in the Islamic banking sector, its ability to calculate the risks related to selecting investment opportunities, hiring and qualifying competent employees, and adopting advanced technology that allowed KFH to link all its branches and subsidiary banks to each other.
It is worth noting that KFH has 52 local branches all over Kuwait and plans to open five more branches in Kuwait, where 38 of those branches have sections for women. Those branches offer various banking, commercial, and real estate services.
Regarding overseas existence, KFH is effectively found in the Bahraini market that is considered to be a hub for Islamic banking, through KFH-Bahrain that has eight branches in Bahrain And 3 show rooms , in addition to serving as a gate for further expansion in the region, including North Africa and Jordan. KFH-Turkey also has 150 branches in Turkey, where it offered the Turkish market an added value; thus allowing KFH to further expand, supported by the growing demand for Islamic products and services. KFH-Turkey plans to open five more branches by the end of January, which allows it to expand into East Europe, Germany, and the Middle East.
Moreover, KFH-Malaysia has 7 branches that offer Islamic products and services to the Malaysian market. The bank plans to open three more branches during Q1 of 2011, while also serving as a gate to other strategic markets in the Far East and China.
At a time when banks resorted to limiting their geographic expansion as a result of the financial crisis, KFH’s overseas units supported its revenues during the financial crisis, where they formed 40% of its total revenues; thus underscoring the success of its regional and global expansion strategy.