Alawwal Bank cap­i­tal po­si­tion com­fort­able

Kuwait Times - - BUSINESS -

Saudi’s Alawwal Bank, for­merly known as Saudi Hol­landi Bank un­til a re­brand­ing this week, has no plans to in­crease cap­i­tal in the near fu­ture, Man­ag­ing Di­rec­tor Bernd van Lin­der told re­porters at a press con­fer­ence yes­ter­day. “We have in­creased our cap­i­tal sub­stan­tially by re­tain­ing lots of our earn­ings over the last cou­ple of years,” he said. “We’re com­fort­able with the level of cap­i­tal that we have to­day.” Other banks in the Gulf have been seek­ing to up their re­serves to cope with new reg­u­la­tions for cap­i­tal re­quire­ments and bol­ster their po­si­tions af­ter years of steady growth. Alawwal launched a new cor­po­rate iden­tity yes­ter­day in branches across the coun­try and on its elec­tronic bank­ing chan­nels. Lin­der told re­porters in Riyadh that the bank would place greater em­pha­sis on dig­i­tal prod­ucts as part of its new iden­tity.

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