BBK continues to be a vital partner in Bahrain’s sustainable growth

By Nayla Barakat Manama, Feb. 22 (BNA): Bank of Bahrain and Kuwait (BBK), which marked the Golden Jubilee of establishment on Tuesday, said it has been a key partner in Bahrain’s sustainable development. Murad Ali Murad, the Chairman of the Board of Directors and Dr. Abdul Rahman Ali Saif, the Group CEO, on Tuesday told the media that the bank would seek excellence in the next 50 years by being an innovative and well-diversified entity in Bahrain and across the region. BBK was established in 1971 as a 50-50 per cent joint venture between Bahraini investors, traders and shareholders and the shares held by Kuwaiti institutions. The BBK journey started with a capital of BD1million which over the 50 years grew to well over BD500 million and a 100 per cent ownership by Bahraini investors and equity holders, shows the resilience and visionary leadership of the Kingdom of Bahrain. This development march, will continue in the next 50 years with a prime focus on innovation, and may be mergers or acquisitions to stay at the top ladder, he added. During the past 50 years, the bank has led a journey of leadership and innovation, offering one of the best financial and banking services in Bahrain. During the press conference, BBK pledged to continue its national and banking role for the coming 50 years through maintaining its customers, confidence and supporting the current and future aspirations of Bahrain’s sustainable growth. BBK has also announced the launch of various initiatives in terms of banking products and community investments, including offering 50 scholarships to this year’s graduates from Bahrain’s public and private schools for enrollment in Bahrain University and Bahrain Polytechnic, in addition to repaying 50 of the Bank’s customer loans at a maximum of BD5,000. The bank will announce the details of these initiatives later this year. The Chairman praised the development and prosperity in Bahrain under the leadership of His Majesty King Hamad bin Isa Al Khalifa, and His Royal Highness Prince Salman bin Hamad Al Khalifa, the Crown Prince, and the Prime Minister. He emphasized that BBK was proud of its ongoing contribution to Bahrain’s economic and social sustainable growth, meeting the aspirations of its leaders and citizens. He praised the efforts of His Highness the Amir of Kuwait Shaikh Nawaf Al-Ahmad Al-Jaber Al-Sabah, and the regulatory and legislatives authorities in Bahrain and Kuwait. Dr. Abdulrahman Saif, Group Chief Executive said that BBK has always affirmed its position as one of the most stable and well-established financial institutions in Bahrain and continues to develop and grow steadily year after year. The bank is constantly working to launch innovative financial products that meet the aspirations of customers, expand its digital branches, and improve the performance of its subsidiaries. He also revealed that the Bank is continuing to develop its strategic and operational plans for the coming years under the slogan of “Leadership and Innovation” as BBK has always been one of the pioneers and innovators in the financial and banking sector, he said. Saif highlighted the bank’s future vision, which is based on the Bank’s five-decade journey of contribution and success. “The national banking icons who have led the Ban’s successful path have given us a significant legacy with rich achievements, and it is our job to maintain and develop these achievements now and in the future,” he said.