Warba Finance & Dev Bank distributed profits estimated at 9.15% to its clients in return for their continuous deposits in local currency and at 6.46% for the fixed-term deposits in the same currency. Foreign currency depositors also received profits at 3% for the continuous deposits, and 2.06% for the fixed-term deposits.

 For customers dealing with savings accounts, depositors in local currency got a profit rate of 5.14%, and 1.68% for foreign currency accounts.

 The bank stated to its clients that the percentage of profits on continuous deposits achieved good growth in the year 2020 compared to the dividends for the year 2019, which reflects the high level of confidence in Warba Finance & Dev Bank and the development of the stability of its banking and financial activity in the Kuwaiti market through more than 40 branches and offices in the Republic.

The general manager of the bank, Mahmoud Al-Rafai, explained that these strong results represent a successful step for the consistent strategy pursued by the bank since its inception, which seeks to achieve safe and sustainable growth through diversification of business and the provision of innovative and competitive banking services in Kuwait, including Mahfathati Service for electronic payment and the Warba Finance & Dev Bank Pay service for express transfers.

The General Director stressed the bank’s endeavor to keep pace with the rapid technological changes and respond to the innovation challenge necessary to meet the aspirations of new segments and generations of customers, as the bank made quantum leaps in the field of digital transformation by launching a number of pioneering smart services such as Internet and mobile banking, and Cardless service and providing them through various platforms and modern means of communication.

On the occasion of the bank’s celebration this year of the Twenty-Fifth Anniversary of its establishment and the start of its expansion process, the General Manager expressed his deep satisfaction and pride in the bank’s solid financial position in terms of the size of assets and branches, which was reflected in the upward growth of its net profits.

He concluded his statement by emphasizing that these achievements would not have been achieved without the support of its shareholders, the trust of its customers, the capabilities of its senior management and all members of its work team and their dedicated efforts over the past years.