TN Media News Riyadh: Al Salam Bank has been awarded the title of “Bank of the Year in Bahrain for 2024” by The Banker magazine, in recognition of its exceptional financial performance, strategic growth initiatives, and commitment to innovation.
The accolade reflects Al Salam Bank’s successful acquisition and swift integration of Kuwait Finance House – Bahrain, a move that expanded the Bank’s asset base by nearly 30%, making it the largest Islamic bank in Bahrain. The transaction was completed with minimal disruption to clients, marking a major milestone in the Bank’s ongoing growth strategy.
Internationally, the Bank increased its stake in Al Salam Bank – Algeria to 68%, while also launching ASB Capital, its asset management arm in the Dubai International Financial Centre (DIFC), to provide clients with diversified investment opportunities.
Al Salam Bank also continued to innovate its offerings, enhancing its flagship Danat Savings Scheme and upgrading the Al Salam Invest platform. The Bank embraced emerging technologies, launching AI-powered tools to optimize asset sales and improve customer experience.
Group CEO Rafik Nayed described the award as a testament to the Bank’s “transformational journey and record-breaking achievements,” while Anwar Murad, Deputy CEO – Banking, highlighted the Bank’s focus on “efficiency, scalability, and innovation.”
This recognition reaffirms Al Salam Bank’s leadership in reshaping the financial landscape in Bahrain and the wider region, with a clear commitment to sustainable growth and delivering long-term value to clients and stakeholders.
