Annual Report and Accounts 2004 - National Bank of Kuwait

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NBK has often been the first to introduce innovative products in the market,such as the first chip-enabled Smart Card in Kuwait; expansion of debit carduse to enable online purchases on NBK’s website; setting up a bill paymentprogramme with the leading mobile telecommunication provider, schools,major newspapers and movie houses. The Bank has also succeeded inbuilding the largest credit card business in the Middle East through, amongother innovations, the successful Watani Gifts rewards programme. Inanother regional first, the Bank launched the new VISA and MasterCard MiniCards during 2004. Our credit card offering also benefited from theintroduction of our free travel insurance package for premium cardholders,ensuring NBK credit cards continue to offer the best value to our customers.Convenient delivery requires a varied and reliable network of channels.NBK has developed superior delivery through the largest network of branchesand ATMs in Kuwait and a variety of other technology-based delivery channelsthat offer customers the convenience of 24 hour banking without the needto visit a branch. Nevertheless, in 2004 the Bank’s branch network was furtherenlarged with the addition of three new branches bringing the total to 47,while investing significantly in staff and systems to develop Hala Watani,one of the leading full service call centres in the region. Watani Online,NBK’s pioneering online banking service, also received a complete upgrade,improving convenience and enhancing online payments. NBK also expandedits direct sales team, which continued to deliver service successfully to aselect segment of customers.Brand recognition and strength are important elements of customer loyalty.NBK understands that brand strength will be even more important in thecoming period of increasing competition in the local market. Consequently,NBK underwent a comprehensive brand revitalisation initiative in 2004.The project included a redesigned logo and an enhanced look forthe Bank’s branches.Review of Activities 200410
OFFERING THE WIDEST RANGE OF PRODUCTS AND SERVICES IN THE COUNTRY, NBK HAS OFTEN BEENTHE FIRST TO INTRODUCE INNOVATIVE PRODUCTS IN THE MARKET, AS WITH OUR 2004 LAUNCH OFNEW VISA AND MASTERCARD MINI CARDS.11
Page 1 and 2: Annual Report and Accounts 2004
Page 3 and 4: OUR VISIONTO BE THE PREMIER ARAB BA
Page 5 and 6: 11 Mohammed Abdul Rahman Al-BaharCh
Page 7 and 8: Our standing in the region is well
Page 9 and 10: Open and agileIn last year’s repo
Page 11: services offered through a complete
Page 15 and 16: NBK IS THE UNDISPUTED LEADER IN THE
Page 17 and 18: The Bank’s market edge is enhance
Page 19 and 20: THE EXPERTISE AND PLACEMENT POWER T
Page 21 and 22: NBK was also a pioneer when it intr
Page 23 and 24: NBK IS DISTINGUISHED AMONG KUWAITI
Page 25 and 26: Treasury‘Best Foreign Exchange Ba
Page 27 and 28: OUR CONTINUED SUPPORT FOR THE SPECI
Page 29 and 30: Oil sector and public financesKuwai
Page 31 and 32: Credit growth moderated somewhat du

Annual Report and Accounts 2004 - National Bank of Kuwait

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