Kuwait Finance House (KFH) CEO Mohammed Al-Omar stated during an interview with CNBC Arabia that the bank’s new five-year strategy is based on a detailed plan with achievable goals. He explained that this strategy focuses on achieving sustainable profits through ensuring stable operative revenues as a result of improving the performance of credit and investment portfolios. He went on to say that clients will witness world-class level of services, since clients seek fast and quality services, and asserted that the client will be serviced through one center, and one accounts manager who can meet all the requirements of the client.
He went on to say that the strategy prioritizes clients through offering them services and products of added value, which allows KFH to cement the clients’ loyalty to the bank, based on the human and technological experience that KFH possesses. He noted that KFH’s overseas subsidiaries will play a more effective role, and revealed that KFH has 380 branches that are well located in Europe, Turkey, the GCC, and the Far East, which allows the bank to reinforce its presence.
Moreover, he remarked that KFH has an existing structure but needs to ensure that all technical and administrative aspects have been tackled, in order to make clients feel at ease after such changes. He said that KFH will follow a carefully set plan that ensures smooth transition to the new work concept.
Furthermore, he mentioned that regarding the forecasts for 2010, he asserted that pessimism continues to dominate the global economy arena as a result of financial consequences, such as the sovereign debts crisis in some European countries that might affect other parts of the world.
Concerning Kuwait, he stated that KFH believes that the development plan can ensure suitable sources of income if it is executed skillfully, especially after receiving a nod by the Cabinet and the National Assembly.