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Executive Summary
I considered Commercial bank of Kuwait for my internship program after
careful consideration as it is one of the prominent local bank of Kuwait. This
internship provided me the opportunity to learn more about the banking
sector in Kuwait. This report is about my internship at Commercial Bank of
Kuwait, Mubarik Al Kabir Branch from 15th May to 23rd June for six weeks.
During my internship I was able to learn practical features of banking and
obtain a good working experience from professionals.
The first day, I reported to Human Resource Department and met the
training supervisor, XXXX. She gave me brief introduction of the bank and
its policies. Later on, I went to the Branch, and met the Branch Manager,
XXXX, who was very courteous and cooperative. She introduced me to the
Supervisor Customer Services. According to bank policy, every internee is
rotated among various departments, in order to get the general awareness
about the Bank operations. This departmental rotation is usually for a week.
During the internship I learned about various bank operations. In retail
banking I have gone through operational aspects of customer service, loans,
fixed deposit, safe custody, credit cards, foreign exchange and remittances.
I have learnt how they function and deal with different type of customers
every day. I have tried to grasps all the detail and working.
Each department has its own supervisor who reports to Deputy Branch
Manager and who in turn reports to the Branch Manager. The staff at CBK is
predominantly Kuwaiti nationals. The attendance at CBK was very important,
so I was suppose to sign daily attendance sheet with the branch manager’s
secretary. The bank staff was very friendly and cooperative, so I had a very
relaxed time and above all I got a chance to learn from them. At the
completion of my internship program, I reported back to HR, which issued
me an Internship Completion Letter & Internee Evaluation Form. I am sure
that this report will provide you a complete momentary look of the bank,
where I have completed my internship. Moreover this report depicts my
practical experience that I have gained and learned during this internship

Introduction of The Banking Sector
Banks are the backbone of an economy. Economic development of any
country strongly depends on banking sector of that country.
Central Bank of Kuwait is the Central Bank, which was established in 1969.
Objectives of Central Bank of Kuwait are, to look after the monetary policy &
credit policy of the country, issue Kuwaiti Dinar (KD), act as a financial
advisor to commercial banks and control the banking system.
E-banking plays a vital role in promoting economic advancement of a
country. Banks in Kuwait have changed completely towards modern Internet
or e-banking which provides new and traditional banking system. Hence all
the financial transactions, funds transfer, payments and investments are
done on line.
The Banking sector in Kuwait consists of Local Banks, commercial Banks,
non commercial Banks, Islamic Banks, Foreign Banks, Domestic Private
Banks and specialized banks. All these banks are regulated by the Central
Bank of Kuwait.

Local Banks include the following in Kuwait:
1. National Bank of Kuwait (NBK)
2. Commercial Bank of Kuwait (CBK)
3. Gulf Bank (GB)
4. Al-Ahli Bank of Kuwait (ABK)
5. The Bank of Kuwait & the Middle East (BKME)
6. Burgan Bank (BB)
7. The Branch of the Bank of Bahrain & Kuwait
8. The Branch of the BNP Paribas Bank
9. The Branch of HSBC Middle East Bank
10. The Branch of the National Bank of Abu Dhabi
11. The Branch of Citibank

1. Kuwait Real Estate Bank (KREB)
2. Industrial Bank of Kuwait

1. Kuwait Finance House (KFH)
2. Boubyan Bank

Banks' asset composition (Central Bank of Kuwait and IMF
Consolidated assets of local banks grew by 24.9% y-o-y to reach KD27.0bn
at the end of 2006 which was on account of the credit facilities to residents
growing by 26.3% to KD14.9bn. During the period 2003-06, the
consolidated assets of local banks grew at a Compounded Annual Growth
Rate of 12.8% from KD18.8bn in 2003 to KD27.0bn in 2006.
The composition of the advances in percentages:

Overview of Bank (Commercial Bank of Kuwait)
Commercial Bank of Kuwait was established on 19th June 1960. In June
2010 the Bank celebrated its 50th Anniversary.
Commercial Bank of Kuwait is second largest financial institutions in Kuwait
with a strong and growing corporate and retail banking franchise. CBK
provides innovative financial and investment solutions to its ever growing
customer base. It deals from retail banking to mega project finance. CBK is
mobilizing its substantial capital base and decades of expertise to assume a
cutting edge role in Kuwait economy. The Bank has emerged as a lead
financier, arranging a flow of loans to diverse power, construction and
notable infrastructure projects in Kuwait. The bank is majority owned by
members of Kuwaiti ruling family.
According to International Credit Agency, CBK has been awarded by
“Moody’s” with A2 whereas the bank’s financial rating by “Standard & Poor’s”
remains at ‘bbb’.
The Bank’s Board of Directors, elected in 2010, have in cooperation with one
of the professional advisory firms, identified a five-year strategic plan that
aims at addressing and overcoming the woes brought by global financial
crisis, with particular focus on restoring the Bank back to high profitability
levels generated from core banking activities. To this end, the Board of
Directors is closely working with the executive management team to
maximize shareholders’ returns, returns on average assets, cater to
customers’ banking needs and ensure the Bank’s corporate social
responsibility as a socially responsible Bank.

Mission Statement OF CBK:
“For the sake of greater customer convenience, Commercial Bank of Kuwait
endeavors to develop and enhance its product offerings to become the
premier provider of banking services to its large customer base along with
maximizing shareholders' funds.”

Vision Statement OF CBK:
“Commercial Bank of Kuwait seeks to maximize shareholder value by
demonstrating excellence in Leadership, Innovation, Commitment and
Corporate Citizenship to build the future together.”

Commercial Bank of Kuwait has a highly skilled team with years of banking
services experience. CBK has demonstrated strong capital and good
profitability. However asset quality has weakened since 2009. This caused a
sharp fall in loss reserve coverage while provisioning together with lower
operating profitability, this has impacted the Bank’s net return. Net Profit of
Commercial Bank of Kuwait was KD 40.5 million for 2010.

CBK share capital comprises of 1,272,022,346 shares of fils 100 each,
totaling to KD 127,202,235. The current price of each share is fils 850.
The bank is also holding 70,000 shares of the above as Treasury shares.

There are no bonds outstanding as on 31/12/2010.
The total number of foreign exchange forward contracts entered into by the
bank and remaining outstanding as on 31st Dec, 2010 is 62,166,000KD.
Most of the contracts are maturing in 30 days time.


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