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. 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 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 new job entrant will want a banking or savings account and a salary account. After a while he may look to personal growth through marriage or setting up a 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.”