Eduardo Eguren, Chief Executive Officer of Burgan Bank

Burgan Bank is optimistic about the outlook for the banking sector in Kuwait in 2012; there will be growth in the sector but only a moderate. Kuwaiti banks have been affected by the crisis and they are slowly getting back on the old tracks. An example of this could be Burgan Bank which reduced its cost of credit by 72% last year.

Abdullah Al Sumait, Deputy CEO of Al Ahli Bank of Kuwait (ABK)

Al Ahli Bank of Kuwait is considered to be rather a conservative bank. With other two branches in the UAE, Al Ahli Bank of Kuwait is financing many projects of Kuwaiti and also Emirati companies. Al Ahli Bank of Kuwait will be opening new retail branches during 2012.

Update 2012 - Gulf Bank of Kuwait: 2nd Largest Bank in Kuwait

Gulf Bank Kuwait, CEO of Gulf Bank, Michel Accad

In December, Gulf Bank Kuwait had a meeting with the top fifty leaders at Gulf Bank and we decided on Gulf Bank’s strategic direction. Gulf Bank's vision was to be a dominant player in the local, conventional banking market, focusing on retail and commercial banking.  At this stage, Gulf Bank is not particularly interested in Islamic finance, or direct investments, or brokerage.  The key thing that came up from that meeting was that for the next two years Gulf Bank will be in rebuilding mode and our strategy will revolve around four pillars.

Update 2012 - Al Ahli Bank of Kuwait

Kuwait Conventional Bank, Kuwait Banking, Al Ahli Bank Kuwait, Deputy CEO, Abdullah Al Sumait

In Kuwait most of the banks have made aggressive moves the past three to five years whereas other banks (non Kuwait) have been more cautious towards growth. Eventually big banks all around the world have been hit and Kuwait is not any different.  When this happened at the end of 2008 Kuwait government took good steps to protect banks and the financial sector and the central bank enacted some regulations to assure the banks in Kuwait, it would provide the needed liquidity.