Mr. Nasser Al-Sayer,
NBK Group Chairman delivered his speech at the 2020 AGM and EGM affirming that the Covid-19 pandemic’s fallout affected all global economies and companies, and Kuwait and the Middle East were no exceptions. For the GCC, the impact was especially severe in light of a record-low oil price environment, at the beginning of the crisis, followed by fluctuations, at the same time they are fighting to contain the spread of the pandemic.
Al-Sayer said: “Despite the challenging operational environment that we faced during the past year, we managed to achieve decent profits amounting KD 246.3 million, whereas operating profits stood at KD 530.9 million. These financial results for 2020 reaffirmed our resilient business model and a strong financial position, and showed continued payback of our diversification and digital transformation strategies.”
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