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NewsTranscript
00:00 "In 2024, we expect it to be a good year for trade and banks in general, because the
00:07 interest rates are high, but not at a sharp increase in Kuwait, not at the same level
00:14 as other countries like the US and others.
00:18 The customers are more tolerant than other countries, because the interest rates are
00:30 double, while in countries from 0.50% to 5% it is 10 times higher.
00:36 It is painful for the customers."
00:39 "Hitek is a commercial bank that only operates in Kuwait.
00:43 The Kuwaiti market is small, and it has big challenges, and a strong competition,
00:48 with 10 banks.
00:49 How can you grow in this environment?"
00:53 "Our focus on Kuwait's trade has brought us profit, and the results are as you
01:03 said, I hope the participants are satisfied.
01:06 We have the third highest profit among banks, but we are less than 8 to 9 banks in size.
01:16 This means that our high quality assets and our customers are special.
01:36 We are not like other countries, where the economy is unstable, and the currency is low.
01:48 We are hopeful that there will be big projects, like the Mubarak port, or the Abdelee port,
02:08 or the cooperation council, or the electricity, or the gas import, or the corn, there are
02:22 big projects in Kuwait, and this competition creates the dynamics, and we are hopeful
02:40 that we will be able to exceed our performance in 2023."
02:44 "Maintaining zero NTL is expensive, you are paying unregulated debts."
02:51 "Yes, we are adopting this policy to show transparency to the participants,
03:07 and the correspondent banks, so the idea is simple, transparency and clarity,
03:19 reading the bank data, we don't have anything hidden, so always zero, and this makes us
03:28 more eager to take care of our customers, who are special and capable of increasing our performance."