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Kuveyt Turk bank
- 2. History Kuveyt Turkwas established in 1989 in the status of Private Financial Institution. Regarding the capital of Kuveyt Turk, 62% is owned by Kuwait Finance House, 9% by the Public Institution for Social Security, 9% by the Islamic Development Bank, 18% by General Directorate for Foundations and 2% by other shareholders
- 3. Board of directors KUVEYTTÜRK KATILIM BANKASI A.Ş. Board of Directors Name Title Hamad Abdulmohsen AL MARZOUQ Chairman of the Board Abdullah TİVNİKLİ Vice Chairman of the Board / Remuneration Committee Mohammed Shujauddin AHMED Member / Audit Committee / Corporate Governance Committee Khaled N. AL FOUZAN Member Nadir ALPASLAN Member Dr. Adnan ERTEM Member / Audit Committee / Corporate Governance Committee Fawaz KHE AL SALEH Member / Corporate Governance Committee / Remuneration Committee Ahmad S.AL KHARJI Member Ufuk UYAN Member / General Manager / Remuneration Committee
- 4. Board of Directors AuditCommittee Board of Directors General Manager Retail Banking Commercial Banking International Banking Internal Systems Committee
- 5. Bank’s Capital Structure Bank’sCapital Structure Shareholder Percentage % Kuwait Finance House 62.24 Directorate General of Foundations 18.72 Islamic Development Bank 9.00 State of Kuwait Social Security Institution 9.00 Other 1.04 Total 100.00
- 6. Shareholding Structure KuwaitFinance House KSC General Directorate for Foundations, Turkey Islamic Development Bank The Public Institution for Social Security Other
- 7. Industry analysis Accounts Payments & collection MoneyGram Services Insurances IndividualPension Investment PRODUCTS
- 8. Net profit 0 50,000 100,000 150,000 200,000 250,000 300,000 350,000 400,000 2011 20122013 Net profit Net profit
- 9. Corporate strategy “Followingour “2018 Vision” long-term strategy, Kuveyt Türk aims to be one of the top ten banks with over 600 branches in Turkey. 2018 targets: Participation Funds: Kuveyt Turk aims to collect TL 3 billion in funds in the retail banking segment and TL 650 million in the business banking segment. Fund Allocation: Kuveyt Turk aims to extend an additional TL 1.9 billion in loans, thus reaching TL 3.8 billion in total loans extended in the business-banking segment. Credit Cards: Kuveyt Turk plans to sell 100,000 Sale Plus credit cards, 12,000 İhtiyac Cards and 6,000 Business Cards.
- 10. SWOT analysis Strength High potential growth “370M in 2014” A huge reserve of gold A pioneer Islamic bank among few Islamic banks in Turkey “Kuwaiti capital”
- 11. SWOT analysis Weaknesses National saving is considered to be very low A big gap in understanding of Islamic finance A big gap in understanding of Middle Eastern capital. Banking market is controlled by a few big banks. Participation banks market share stands at only 5% of total banking sector
- 12. SWOT analysis Opportunities A large amount of foreign investment is attracted. It has strong potential of growth. Islamic Banking is a growing market segment that offers attractive opportunities to potential and existing customers E-banking facility is also a new opportunity which is a flourishing business in foreign countries and can also be here
- 13. SWOT analysis Threats Exchange rate and inflation risk Increasing competition in the banking sector Huge number of banks in Turkey ‘Adhering to Islamic rules’ a critical challenge to participation banking adoption
- 14. Recommendations Increasing numberof ATMs. Sponsoring some events to improve the public image of the bank. Being more flexible with foreigners in banking transactions. Offering foreign languages courses to the employees.