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00:00The work-related sector is still in progress, particularly the banking sector.
00:05Here we are talking about your home, Kuwait, which achieved its first quarter profit this year,
00:11and it is the highest compared to banks and the other banking sector.
00:16Let's look at the latest figures that the bank achieved in the first quarter of this year.
00:21There was a growth of half a percentage point to exceed 162,800,000 dinars in 2024.
00:28This is 20% compared to the first quarter of last year.
00:33On the other hand, we had a growth in the work-related sector of the bank during the same period,
00:40which achieved a growth of 3.5 percentage points,
00:44which included 392 million Kuwaiti dinars over the past period.
00:52But the main reason for these profits is this growth achieved by the work-related sector.
00:57On the other hand, we also had a decrease in specializations
01:02and a decrease in the value in the income list for the bank during the past period.
01:08We are talking about more than 119% decrease in these specializations,
01:13which today banks are reducing them in light of the fear that was related to taking a larger specialization.
01:22This led to support and growth in profits during the first quarter of this year.
01:28But what are the latest developments that the bank has made?
01:32We have seen it at the level of the bank.
01:34We are talking about the integration process that has been talked about and agreed upon
01:39by the Kuwaiti Monetary Markets Authority to integrate the Kuwaiti People's Bank and the Kuwaiti Investment Bank,
01:45which is the integrated side between the two parties.
01:49On the other hand, in the past month,
01:52cash distributions by the bank were announced at 20% and 10% were allocated and distributed
02:00in the first half of 2023,
02:05in addition to the distribution of grant shares by the bank to contributors.
02:10These were the results of the first quarter of the current year for the Kuwaiti Monetary Bank.