Retail banking is a major opportunity in Kuwait’s banking space
Elham Yousry Mahfouz, CEO of Commercial Bank of Kuwait talks about the major opportunities in the Kuwaiti banking sector.
Elham Yousry Mahfouz, CEO of Commercial Bank of Kuwait talks about the major opportunities in the Kuwaiti banking sector. The CEO sees the opportunities in the retail space.
She says, “For us it will be in the local market, in the retail business. A聽lot of young Kuwaitis are graduating and entering the job market in government or private sector jobs. For us they are new customers needing the full package. A聽new job entrant will want a聽banking or savings account and a聽salary account. After a聽while he may look to personal growth through marriage or setting up a聽small or medium sized business. If we can attract the new job entrant, he will probably stay with us through his own growth cycle. We can develop the relationship with them. That is our target market. Many banks do the same thing. Customer service will make the difference between one bank and another.”