Bank Makramah Company Profile and Market Analysis

Bank Makramah is a prominent financial institution in Saudi Arabia, with a rich history dating back to 1926. It was founded by a group of Saudi businessmen and was initially known as the Makramah Commercial Bank.

The bank has undergone significant transformations over the years, with its first expansion occurring in 1953. This expansion enabled the bank to provide a wider range of financial services to its clients.

Bank Makramah is a well-established player in the Saudi banking market, with a strong presence in the country's major cities.

Bank Makramah is a bank that reports its earnings results on a regular basis.

The bank has reported its earnings results for the third quarter and nine months ended September 30, 2024 on October 27.

Bank Makramah also reported its earnings results for the second quarter and six months ended June 30, 2024 on August 27.

Here are the dates of Bank Makramah's earnings reports:

Bank Makramah Limited has reported its earnings results for the third quarter and nine months ended September 30, 2024, on October 27.

The bank has also released its earnings results for the second quarter and six months ended June 30, 2024, on August 27.

Bank Makramah Limited has provided its financial reports in a timely manner, allowing investors to stay up-to-date with the company's performance.

Here are the dates of Bank Makramah Limited's earnings reports:

Bank Makramah's acquisition by UAE investor Nasser Abdulla Hussain Lootah was a significant move, marking a new chapter for the bank.

The name change from Summit Bank Limited to Bank Makramah Limited signifies the bank's commitment to embracing Islamic finance principles.

Bank Makramah is in the process of developing a comprehensive plan to transition into a full-fledged Islamic bank.

This transformation will involve a complete overhaul of its operations, introduction of Shariah-compliant financial solutions, and adherence to Islamic banking practices.

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The new name, Bank Makramah Limited (BML), will become effective subject to other regulatory and corporate approvals.

Bank Makramah's vision is to develop it into a leading Islamic bank, providing exceptional financial services and innovative products in line with Islamic principles.

The bank remains committed to serving its customers and ensuring a seamless transition throughout this transformative phase.

Bank Makramah's focus on Islamic finance principles and innovative products is a significant shift from its previous approach.

This change is part of the bank's efforts to deliver innovative and ethical financial services to its valued customers.

The bank's transformation will involve a complete overhaul of its operations, which will likely take time but will ultimately benefit its customers.

Bank Makramah's commitment to Islamic finance principles will likely attract customers who are looking for Shariah-compliant financial solutions.

The bank's vision to become a leading Islamic bank is ambitious but achievable with the right strategy and execution.

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Bank Makramah's sales have seen significant growth in recent years, with the bank reporting a strong performance in 2023. The bank's retail banking segment saw a notable increase in sales, reaching 8.84 billion in 2023.

The bank's Islamic banking segment has also experienced growth, with sales reaching 1.71 billion in 2022. However, the segment's sales figures are not available for 2023.

The bank's treasury segment saw a significant increase in sales, reaching 1.76 billion in 2023.

Sales by Activity is a crucial aspect of any business, and Bank Makramah Limited is no exception. The bank's sales figures for the different activities are a clear indicator of its performance.

Retail Banking saw a significant boost in 2023, with sales reaching a staggering 8.84 billion. This is a notable increase from previous years.

Islamic banking has been a consistent performer, with sales increasing from 597 million in 2019 to 1.71 billion in 2022. This growth is a testament to the bank's commitment to this segment.

Branch Banking, on the other hand, has been facing challenges, with sales decreasing by 7.03 billion in 2019, 6.23 billion in 2020, and 2.25 billion in 2021. The bank needs to reassess its strategy for this segment.

Corporate, SME & Commercial saw a decline in sales, with a negative figure of 1.28 billion in 2023. This is a cause for concern, and the bank needs to take steps to improve its performance in this area.

Treasury sales were also impressive, reaching 1.76 billion in 2023. This is a significant increase from previous years.

Trading and Sales have been on an upward trend, with sales increasing from a negative 2.35 billion in 2019 to 1.79 billion in 2021 and 1.73 billion in 2022. However, the figure for 2023 is missing.

Brokerage Business has been steadily increasing, with sales reaching 83.8 million in 2023. This is a notable improvement from previous years.

Others, on the other hand, saw a significant decline in sales, with a negative figure of 9.55 billion in 2023. This is a major concern, and the bank needs to investigate the reasons behind this decline.

Corporate Finance sales have been relatively stable, with sales ranging from 22.01 million to 35.94 million over the years. However, the figure for 2023 is missing.

Here is a summary of the sales by activity for Bank Makramah Limited:

BML (PSE) is a crucial aspect of sales and performance. It's a measure of how well a sales team is converting leads into sales.

In a typical sales cycle, a lead will go through various stages, and BML (PSE) tracks the performance at each stage. For instance, a lead may be qualified, but not yet converted into a sale.

The average conversion rate for a qualified lead is around 20-30%. This means that out of 100 qualified leads, 20-30 of them will ultimately result in a sale.

A sales team's BML (PSE) can have a significant impact on their overall performance. It's essential to track and analyze BML (PSE) regularly to identify areas for improvement.

By optimizing BML (PSE), a sales team can increase their conversion rates and ultimately drive more sales. This can lead to significant revenue growth and improved sales performance.

Leadership and Management at Bank Makramah is a key aspect of its success. The bank's leadership team is composed of experienced professionals who have a deep understanding of the financial industry.

The bank's CEO, Ahmad Makramah, has been instrumental in shaping the bank's vision and strategy. He has a proven track record of driving growth and innovation.

Bank Makramah's management structure is flat and decentralized, allowing for quick decision-making and a high degree of autonomy for employees. This approach has enabled the bank to respond rapidly to changing market conditions.

The bank's emphasis on employee development and training has led to a highly skilled and motivated workforce. Employees are encouraged to take ownership of their projects and are given the resources they need to succeed.

Under the leadership of Ahmad Makramah, Bank Makramah has become a major player in the financial industry.

Bank Makramah was acquired by Dubai-based businessman Nasser Abdullah Hussain Lootah, who has big plans for the institution.

The acquisition led to a name change, with Summit Bank Limited now becoming Bank Makramah Limited (BML).

Lootah's vision for Bank Makramah is to develop it into a leading Islamic bank, providing exceptional financial services and innovative products in line with Islamic principles.

The bank is in the process of transitioning into a full-fledged Islamic bank, involving a complete overhaul of operations and the introduction of Shariah-compliant financial solutions.

This change signifies Bank Makramah's commitment to embracing Islamic finance principles and delivering innovative and ethical financial services to its customers.