News & Announcements

Kuwait: NBK Launches Sustainable Financing Framework

National Bank of Kuwait (NBK) launched its Sustainable Financing Framework as it continues to build a market-leading position in sustainable development, enabling and promoting responsible business practices to help steer the economy towards long-term value creation, as well as supporting Kuwait National Adaptation Plan (NAP) addressing climate change.

The framework details the four core components of the International Capital Market Association (ICMA) and Loan Market Association (LMA) principles, namely, Use of Proceeds, Process for Project Evaluation and Selection, Management of Proceeds and Reporting.

It is also aligned with the Green Bond Principles (GBP), Social Bond Principles (SBP) and Sustainability Bond Guidelines (SBG) published in June 2021 by the International Capital Market Association (ICMA).

Under the Sustainable Financing Framework, NBK can issue three types of instruments; First: Green Financing Instruments – the proceeds of which are exclusively allocated to Green Asset Categories. Second: Social Financing Instruments – the proceeds of which are exclusively allocated to Social Asset Categories. Third: Sustainability Financing Instruments – the proceeds of which are allocated to both Green or Social Asset Categories.
S&P Global Ratings provided its opinion on the alignment of NBK’s Sustainable Financing Framework with the components of the International Capital Market Association (ICMA) and the Loan Market Association (LMA), confirming that the “Use of Proceeds” is strongly aligned with the applicable principles.  Process for project evaluation and selection, Management of proceeds and reporting were also aligned with relevant principles.

Commenting on this development, Mr. Isam Al-Sager, Group Vice-Chairman and GCEO said: “The aim of establishing our sustainable financing framework is to integrate environmental and social governance standards into all our operations, in addition guides our transitions in support of a more sustainable and low carbon economy , all while supporting Kuwait’s sustainable growth enshrined in New Kuwait Vision 2035.

Emphasizing the importance of the framework, Al-Sager said that NBK’s sustainable financing framework is an important step bringing NBK closer to global capital markets, further strengthening NBK’s leading market position.

Al-Sager highlighted that NBK strives to embed  ESG practices into its long-term strategies, in addition to developing approaches  to assess climate change risk and integrating sustainability factors into NBK’s business plans.

He also pointed out that NBK has developed internal targets to reduce gross operational emissions by 25% by the year 2025. The Bank is also considering various technologies and R&D opportunities to expand its dependencies on renewable energy beyond 2025 with an aspiration to become net zero operationally by 2035.

Furthermore, NBK headquarters building has been designed and equipped with several environmentally- responsible aspects, “Being a certified LEED gold building, significantly improving all environmental factors that we collect, measure and report, including greenhouse gas (GHG) emissions and paper and plastic recycling”, Al-Sager said.

He praised NBK’s significant progress in terms of women’s participation in the labour force, as well as female board representation both in Kuwait,  and NBK’s international subsidiaries .

Additional governance measures included the restructuring of NBK Board Committees and the appointment of four independent members in the board of directors who bring with them extensive expertise in ESG practices. The Bank has also updated and published its policies to further enhance transparency, business ethics and integrity.

Al-Sager explained that NBK continues to focus on employee training and development, education, cybersecurity and data protection, in addition to the Bank’s commitment to labor and human rights practices.

NBK has expanded the scope of its sustainability disclosures and its commitment towards the principles of the Global Reporting Initiative (GRI) as a main framework for reporting, in addition to aligning its reporting to UN Sustainable Development Goals (SDGs), Kuwait’s National Development, and Boursa Kuwait’s voluntary sustainability disclosures.

It is worth mentioning that NBK is the first banking institution in Kuwait to issue a sustainability report highlighting the bank’s social, economic, and environmental initiatives and the implementation of corporate governance principles in accordance with the standards of Integrated Reporting (IR) Framework and the Global Reporting Initiative (GRI). The bank’s efforts in this regard over the past years were recognized by inclusion in the FTSE4Good Index and the Refinitiv AFE Low Carbon Select Index in MENA, in which NBK ranked first among regionals banks and Kuwaiti companies in terms of the index’s weight.

Kuwait: Shaikha Al-Bahar Participates in the Egyptian-Kuwaiti Cooperation Council Delegation in Cairo

Ms. Shaikha Al-Bahar, Deputy Group CEO of the National Bank of Kuwait, participated in the Egyptian-Kuwaiti Cooperation Council’s visit to Cairo, aimed at exploring avenues to strengthen bilateral cooperation and unlock new opportunities across various sectors.

The Kuwaiti delegation, headed by Mr. Mohammed Al-Sager Head of the Egyptian-Kuwaiti Cooperation Council—comprised senior representatives from prominent Kuwaiti banks and corporations.

The delegation was received by His Excellency President Abdel Fattah El-Sisi at the Presidential Palace in Cairo, where he extended an invitation to Kuwaiti investors to explore the wealth of opportunities available in Egypt. He emphasized the incentives and facilities provided by the Egyptian government, encouraging the development of industrial cooperation through the establishment of strategic partnerships between Egyptian and Kuwaiti companies. El-Sisi underscored the immense potential of the Egyptian market, emphasizing its expansive scale, robust growth prospects, and significant demand across diverse sectors. He highlighted the substantial opportunities available for investors, particularly in high-value industries, where they stand to reap considerable returns.

The delegation also held a meeting with Egyptian Prime Minister Dr. Mostafa Madbouly at the Government Headquarters in the New Administrative Capital. The meeting was attended by Eng. Hassan El-Khatib, Minister of Investment and Foreign Trade; Ambassador Ghanem Saqr Al-Ghanem, Kuwait’s Ambassador to Egypt; and Ambassador Osama Shaltout, Egypt’s Ambassador to Kuwait.

During the meeting, Prime Minister Madbouly invited Kuwaiti investors to tap into the wide array of investment opportunities available in Egypt, affirming the government’s willingness to grant the “Golden License” to projects mutually agreed upon by both sides—streamlining procedures and reinforcing Egypt’s commitment to facilitating foreign investment. 

Madbouly expressed his keen interest in seeing the Kuwaiti side explore the diverse investment prospects Egypt has to offer across a range of sectors. He emphasized Egypt’s openness to forging various forms of partnerships with Kuwaiti investors, underscoring the country’s commitment to fostering mutually beneficial collaboration that serves the shared interests of both nations.

He outlined several promising investment opportunities within the Egyptian market, particularly in key sectors including food security, oil and petrochemicals, logistics, tourism, and hospitality. 

The Egyptian Prime Minister also reaffirmed the freedom to transfer foreign funds abroad, noting that the economic reforms implemented by the Egyptian government since March 2024—most notably the adoption of a flexible exchange rate policy—have significantly bolstered the country’s foreign currency reserves.

The delegation also held discussions with Egyptian Foreign Minister Dr. Badr Abdelatty, who expressed pride in the longstanding and historic ties between Egypt and Kuwait. He provided an overview of the recent economic reforms and national projects undertaken by Egypt, highlighting efforts to enhance the investment climate and strengthen the role of the private sector across various industries.

Furthermore, the Kuwaiti delegation engaged in a meeting with Egyptian Minister of the Public Business Sector, Eng. Mohamed Shemy, alongside Mohamed Jubran, Minister of Labor, to explore avenues for strengthening bilateral cooperation across business, economic, and commercial sectors. The discussions also focused on the investment opportunities available for Kuwaiti investors in the Egyptian market.

Additionally, the delegation participated in the Egyptian-Kuwaiti Investment and Business Forum, attended by a range of ministers and senior officials. The forum, which aimed to bolster economic and investment ties between Kuwait and Egypt, facilitated discussions on enhancing collaboration across various business, economic, and commercial sectors.

Kuwait: NBK Reports Net Profit of KD 134.1 Million for 1Q2025

National Bank of Kuwait (NBK) has announced its financial results for the three-months period ended 31 March 2025. The Bank reported a net profit of KD 134.1 million (USD 434.8 million), compared to KD 146.6 million (USD 475.3 million) for the corresponding period in 2024. Profit before tax for the period reached KD 173.4 million (USD 562.3 million) compared to KD 172.0 million (USD 557.7 million) recorded in 2024. 

Total assets as of the end of March 2025 grew by 8.7% year-on-year to reach KD 41.6 billion (USD 135.0 billion), whereas customer loans and advances increased by 9.9% year-on-year to KD24.6  billion (USD 79.8 billion).

Customer deposits grew by 5.6%, reaching KD23.5  billion (USD 76.2 billion) by the end of March 2025. Meanwhile, shareholders’ equity stood at KD 4.0 billion (USD 13.1 billion), reflecting a growth of 6.4% year-on-year.

Solid Results

Commenting on the Bank's annual financial results, Hamad Al-Bahar, NBK Group Chairman stated, “NBK entered 2025 on a strong note, delivering solid financial results in the first quarter despite a challenging global landscape. The performance came amid persistent geopolitical tensions on both global and regional fronts, rising concerns over a potential global trade war following recent U.S. tariff measures, and increasingly complex macroeconomic conditions across many parts of the world.”

“Once again, NBK reaffirms its resilience and adaptability to evolving economic conditions, underpinned by a well-diversified mix of products, services, and international operations across various parts of the world. This strategic positioning is supported by the Bank’s strong balance sheet, solid capitalization, high liquidity, and high asset quality—all reinforced by a prudent risk management approach,” Al-Bahar added.

He emphasized that NBK is well-positioned to sustain its leadership in the domestic financial sector while delivering long-term value to shareholders, customers, and the communities it serves. He noted that the Bank continues to realize the benefits of its strategic investments in both technology and human capital.

“In 2025, NBK is set to accelerate its sustainable financing efforts in pursuit of its target to expand its sustainable assets portfolio to USD 10 billion by 2030. The Bank will also continue to advance a range of initiatives in support of its broader commitment to achieving carbon neutrality,” Al-Bahar confirmed.

He highlighted that during the first quarter of 2025, NBK played a key role in launching and supporting a wide range of initiatives across various fields, reinforcing its position as the leading contributor to social responsibility in Kuwait. Among these efforts was NBK’s annual Ramadan campaign, “Doing Good Deeds”, which featured a diverse lineup of health, sports, cultural, and recreational activities.

Strong Buffers

Meanwhile, Mr. Isam J. Al-Sager, NBK Group Vice Chairman and CEO, said: “NBK’s first-quarter financial results this year underscore the strength of its buffers, which have enabled it to withstand global economic headwinds and their ripple effects across regional and local markets.”

Al-Sager noted that NBK’s diversified business mix, strategically planned investments, and prudent risk management enabled the Bank to maintain operational flexibility across its various business segments during the first three months of 2025. This was led by the core banking business, which played a key role in mitigating the impact of an increasingly challenging economic conditions during that period.

He stated that NBK’s net profit for the first quarter of 2025 was impacted by the effective implementation of the Domestic Minimum Top-Up Tax (DMTT) on multinational enterprises (MNEs) operating in the country. This led to net profit recording a year-on-year drop of 8.5% while profit before tax was flat year-on-year.

Al-Sager revealed that NBK Group recorded a net operating income of KD310.7  million (USD 1.0 billion) in the first quarter of 2025, reporting a growth of 0.6% year-on-year. He also noted that both the International Banking and Boubyan Bank, its Islamic banking arm, remain key revenue and profit growth contributors to the Group.

Seizing Opportunities 

Al-Sager emphasized that NBK remains committed to investing in technology and fostering innovation to build an inclusive and sustainable financial future. He added that the Bank aims to expand its customer base while capitalizing on opportunities in promising markets and key sectors.

He further noted that during the first quarter of 2025, NBK continued to deliver innovative solutions and services tailored to the evolving needs of its customers, showcasing its agility in keeping pace with rapid market developments. The Bank also entered into strategic partnerships with leading local and international institutions across key sectors, reinforcing its commitment to offering customers an exceptional and comprehensive banking experience.

On the wealth management front, Al-Sager stated that NBK Wealth has continued to enhance its offerings by delivering a broad range of integrated solutions across private banking, asset management, financial planning, and advisory services. Supported by a wide global network of operations, these efforts have further solidified its position as the largest wealth management entity in Kuwait and among the leading players in the region.

Al-Sager emphasized the Bank’s commitment to actively contributing to Kuwait’s economic growth and development through financing strategic infrastructure projects, ongoing support for entrepreneurs, and efforts to promote financial inclusion. He also highlighted NBK’s focus on maintaining its competitive edge in the local market while continuing to grow its presence in international markets.

Furthermore, he emphasized the Bank’s commitment to enhancing operational efficiency across all business sectors, while reinforcing its role in supporting sustainability efforts within the communities it serves. He also highlighted NBK’s dedication to being a strategic partner for customers in their pursuit of sustainable financing solutions.

Operational Environment

Regarding his outlook for the business environment in Kuwait, Al-Sager noted, “Several indicators suggest a positive shift in the operational landscape for Kuwait in 2025. At the forefront is the continued momentum in awarding and implementing projects. This positive trend is expected to persist as the government focuses its economic agenda on prioritizing major development projects and accelerating their implementation in alignment with Vision 2035.”

Al-Sager emphasized the government's commitment to advancing financial and economic reforms, highlighted by the recent adoption of key legislation such as the Financing and Liquidity Law (debt law) and the anticipated issuance of the mortgage law. These initiatives are expected to support economic growth and positively impact the business environment in Kuwait. However, he noted that the challenges posed by US tariffs, concerns over a potential global trade war, and ongoing geopolitical tensions will remain among the most significant uncertainties that are facing the markets in the near term.

The Strongest & Most Valuable Brand

NBK reaffirmed the strength of its brand in 2025, maintaining its position as the most valuable and strongest banking brand in Kuwait. According to the annual report issued by Brand Finance, NBK widened its lead over competitors in the Kuwaiti banking sector, achieving a 22% increase in brand value compared to 2024. Moreover, Global Finance recently named NBK the Best Bank in Kuwait - 2025, further solidifying its leadership in the Kuwaiti banking sector.

Key financial indicators for 1Q2025

•    Net operating income stood at KD310.7  million (USD 1.0 billion), up 0.6% year-on-year

•    Total assets grew by 8.7% year-on-year, at KD 41.6 billion (USD 135.0 billion)

•    Customer loans and advances increased by 9.9% year-on-year to KD 24.6 billion (USD 79.8 billion)

•    Customer deposits grew by 5.6% year-on-year to KD 23.5 billion (USD 76.2 billion)

•    Shareholders’ equity amounted to KD 4.0 billion (USD 13.1 billion), registering an annual growth of 6.4%

•    Strong asset quality metrics, with NPL/gross loans ratio at 1.38% and an NPL coverage ratio of 251%

•    Robust Capital Adequacy Ratio of 16.6%, comfortably exceeding regulatory requirements

Kuwait: NBK is the Most Valuable & Strongest Banking Brand in Kuwait

National Bank of Kuwait (NBK) ranked as the most valuable and strongest banking brand in Kuwait for 2025, according to Brand Finance's annual report.

Brand Finance's 2025 report highlighted NBK's success in widening the gap with its competitors in Kuwait in terms of brand value and strength. The bank's brand value surged by 22%, reaching US$1.738 billion, up from US$1.428 billion in 2024, placing it tenth among the most valuable banking brands in the Middle East. Its Brand Strength Index (BSI) also improved to 83.3 points, up from 81.2 points in 2024. NBK continues to lead in Kuwait as the strongest banking brand for the fourteenth consecutive year and ranks third among the strongest banking brands in the region.

Globally, NBK secured the 154th spot on Brand Finance's 2025 list of the world's 500 most valuable banking brands, climbing 12 places from its 2024 ranking. The bank also ranked 61st worldwide in brand strength, reinforcing its position among the strongest banking brands regionally and internationally. This recognition reflects NBK’s solid financial performance and growth prospects, assessed based on key criteria such as profitability margins and revenue.

This strong brand rating underscores the trust NBK enjoys among customers and shareholders, reinforcing its distinguished reputation locally, regionally, and globally. It also reflects the bank’s solid financial performance, its expanding geographic footprint across 13 countries on four continents, and its strategic presence—key factors that drive shareholder returns and enhance its offerings to deliver best-in-class banking products and services.

This rating further highlights the success of NBK’s strategic approach in reinforcing its identity and enhancing its brand strength.

Brand Finance is the world's leading independent brand valuation and strategy consultancy. Headquartered in London, the firm has offices in over 20 countries.  

The company's trademark valuation is based on rigorous criteria, including the scale of operations, geographical reach, global and regional reputation, brand classification, and intellectual property.

NBK remains firmly committed to maintaining its leadership position and securing the highest credit ratings among all banks in the region, as affirmed by the consensus of renowned credit rating agencies: Moody's, Standard & Poor's, and Fitch.

The Bank holds long-term ratings of A1 from Moody's, A+ from Fitch Ratings, and A from Standard & Poor's, underpinned by its robust capitalization, consistent performance growth, high asset quality, cautious lending policies, effective risk management, and experienced and stable leadership.

NBK's standing among the safest banks in the world underscores the strength of its brand, as the bank continues to expand and foster innovation. It remains committed to enhancing its presence in key regional markets by offering innovative banking services tailored to meet its customers’ needs, irrespective of their geographic location.

According to Global Finance's 2024 list of the 100 safest banks in the world, NBK was the sole Kuwaiti bank featured, securing the 83rd position globally. This achievement highlights the strong global confidence in the bank.

Kuwait: NBK Celebrates Gergean with the Students of Mohammed Alshaya Elementary School

National Bank of Kuwait (NBK) celebrated Gergean with the students of Mohammed Alshaya Elementary School for Boys, in a highly engaging atmosphere bringing together the students and teaching staff.

NBK team distributed Gergean to all students and teachers, in a special event marking the traditional Gergean celebration. The event also witnessed a variety of entertainment activities that enhance the students' belonging to their community, as the distribution of Gergean is a popular tradition that aims to revive the cultural and heritage values of the Kuwaiti community.

This celebration underscores NBK’s steadfast dedication to engaging in social and humanitarian activities and delivering its responsibility towards all sectors of society. It also demonstrates the special support extended to the schools and students participating in the “Bankee” program, who expressed their happiness with this event, appreciating NBK’s efforts in sponsoring such initiatives and activities.

Commenting on this, Asma Bin Hussain. Specialist - Public Relations and Event Management at National Bank of Kuwait, said, “We are constantly striving to be at the forefront of socially responsible organizations by participation in a wide range of events and activities.”

“We are always keen to support schools participating in the Bankee program, which aims to familiarize students with fundamental economic concepts and practices such as earning, spending, saving and financial obligations,” she added.

Bin Hussain noted that “Bankee” effectively contributed to raising students' financial awareness, as witnessed by parents and teachers, noting that instilling core values in students like honesty, integrity, personal development, accountability, cooperation and teamwork are among the program’s key objectives, as it aims to raise a generation of Kuwaiti youth capable of contributing to achieving sustainable development and economic welfare for individuals and society.

On their part, the administration of Mohammed AlShaya Elementary School for Boys expressed its appreciation for NBK's efforts in supporting education and cultivating positive concepts in the younger generations.

NBK firmly believes that public-private partnerships to provide the young generation with the required knowledge and skills are instrumental to individual as well as social wellbeing and prosperity.

In collaboration with the Ministry of Education, and Kuwait Anticorruption Authority (Nazaha), “Bankee” is the first program of its kind introduced by NBK for the society, as part of the endeavours to promote financial inclusion among students in schools, to ensure increasing and sustaining financial literacy among the members of society in the future. The program aims to familiarize students with fundamental economic concepts and practices, and to cultivate financial culture in an interactive and engaging manner using the classroom economy model.

It is worth mentioning that NBK was awarded the Bronze Award by Qorus in the Environmental, Social, and Corporate Governance (ESG) category for Bankee Program, recognizing its innovative efforts in integrating sustainability and ESG standards into its initiatives.

Kuwait: NBK Launches ‘Reduce Food Waste’ Campaign to Promote Sustainability and Social Responsibility

The National Bank of Kuwait (NBK) reinforces its commitment to sustainability and social responsibility with the launch of the Reduce Food Waste Campaign, aimed at minimizing food waste and encouraging the community to preserve food resources.

As part of this initiative, NBK installed refrigerators at the entrances of its branches across all governorates (two branches per governorate) and filled it with iftar meals.. The community is also encouraged to donate excess food and fill the refrigerators with, ensuring that edible and fresh food reaches those in need while also fostering a culture of sustainable consumption.

Yaqoub Al-Baqer, AVP at NBK  Public Relations and Event Management, commented on the campaign, stating: “Through this initiative, we aim to make sure iftar meals are accessible to everyone in addition to instill a culture of food conservation and responsible consumption. By placing refrigerators at our branches, we are providing the community with a practical and accessible way to contribute to reducing food waste and supporting those in need. At NBK, we believe in the power of collective action to drive meaningful change.”

Al Baqer emphasized NBK’s long-term dedication to sustainable initiatives, stating: “We believe that community work is an investment in the future. That’s why we continue to introduce initiatives that foster generosity, awareness, and social cohesion—solidifying NBK’s role as a key contributor to Kuwait’s society.”

this initiative is part of the Annual Ramadan Program, “Doing Good Deeds,” which has been a cornerstone of its CSR initiatives for over 25 years. This year’s program introduces new community-driven activities designed to strengthen social bonds and promote generosity during the holy month.

Through this initiative, NBK aims to inspire the community to take active steps toward reducing food waste, reinforcing its broader efforts to support environmental sustainability and social wellbeing.

Kuwait: NBK’s General Assembly Approves All Agenda Items

National Bank of Kuwait (NBK) held its Annual General Assembly (AGM) for the financial year 2024 on Saturday, March 15, 2025, with a quorum of 60.63%. The AGM approved all agenda items, including the Board of Directors’ recommendation to distribute 25% cash dividend for the second half of the year (25 fils per share), bringing the total cash dividend for 2024 to 35% (35 fils per share). Additionally, shareholders approved the distribution of 5% bonus shares (5 shares for every 100 shares).

In his address to the AGM attendees, Mr. Hamad Al-Bahar, NBK Group Chairman, expressed the Board of Directors’ pride in the Bank’s outstanding achievements over the past year. He emphasized NBK’s strong market position, reaffirming its ability to sustain its leadership in the financial sector, deliver added value to shareholders, and contribute to the long-term prosperity of the communities it serves.

“The year 2024 marked a milestone in NBK’s journey, distinguished by significant achievements, including the issuance of our inaugural green bonds, the successful expansion of Weyay Bank, and the introduction of innovative and sustainable financial solutions,” Al-Bahar said.

He highlighted NBK’s unwavering focus on enhancing governance and delivering sustainable value to all stakeholders, emphasizing that collective efforts have driven exceptional results, further solidifying the Bank’s leadership in the financial sector both locally and regionally.

Furthermore, Al-Bahar affirmed that throughout 2024, NBK remained committed to delivering innovative solutions and services tailored to evolving customer needs, showcasing its agility in keeping pace with rapid market shifts, fulfilling customer aspirations, and enhancing operational efficiency across its various business sectors.

Financing Strategic Projects 

Al-Bahar emphasized NBK’s long-standing commitment to driving economic growth and development in Kuwait, highlighting its role in financing strategic infrastructure projects, supporting entrepreneurs, and advancing financial inclusion—all in alignment with the objectives of Vision 2035.

He further highlighted NBK’s active role in fostering prosperity across the markets in which it operates, underscoring its expanding international presence as a key enabler of trade, investment, and broader economic growth. He also noted that this unwavering commitment to driving economic progress aligns with NBK’s vision of creating a more prosperous future for all stakeholders.

2025 Outlook

“As we look ahead to 2025 and beyond, I reaffirm our steadfast commitment to delivering value to all stakeholders, ensuring the sustainable long-term success of our organization, and driving further achievements and strategic progress. Our journey is built on solid financial foundations and reinforced by your continued trust and confidence,” Al-Bahar stated.

He emphasized that NBK remains committed to financing strategic projects, fostering strong relationships with regulators, and maintaining its competitive edge in the local market while actively pursuing business growth in international markets. Additionally, the Bank continues to enhance its wealth management services across the GCC, leveraging its strategic advantage in offering Islamic banking solutions through Boubyan Bank.

Moreover, Al-Bahar reaffirmed NBK's unwavering commitment to sustainability, highlighting the bank's ambitious initiatives in sustainable financing, investments in responsible environmental projects, and its ongoing dedication to serving the communities in which it operates.

Acknowledgements

Al-Bahar commended the Bank's Board of Directors for its pivotal role in NBK’s achievements, emphasizing the BOD members dedication, commitment, and strategic guidance in steering the Group’s operations forward. He also praised the executive management and leadership team, extending his gratitude to every NBK employee, whom he described as the backbone of the Group’s success.

Al-Bahar extended his sincere appreciation to the Central Bank of Kuwait and the Capital Markets Authority for their efforts in enhancing the operating environment and supporting the banking sector. He also expressed gratitude to NBK’s shareholders for their unwavering support of the Board of Directors’ vision and the executive management’s strategic steps toward achieving the Bank’s long-term objectives.

Al-Bahar concluded his speech by expressing his deep gratitude to His Highness the Amir, Sheikh Meshal Al-Ahmad Al-Jaber Al-Sabah, and His Highness the Crown Prince, Sheikh Sabah Khaled Al-Hamad Al-Sabah, for their steadfast support in ensuring the stability and growth of Kuwait’s economy.

Resilience & Adaptability

Meanwhile, Mr. Isam Al-Sager, NBK Group Vice Chairman and CEO, underscored the Bank’s key achievements for the financial year ended December 31, 2024. He emphasized that throughout the year, NBK stood as a symbol of strength and adaptability, delivering exceptional financial performance under the guiding theme: “Driving Innovation for an Inclusive and Sustainable Financial Future”.

Addressing shareholders, Al-Sager stated: “Despite a rapidly evolving landscape marked by unprecedented global economic challenges, supply chain disruptions, and geopolitical complexities, NBK has showcased exceptional adaptability and resilience. We have successfully executed effective diversification strategies, leveraged technological innovation, expanded our global footprint, and capitalized on promising opportunities. Our diversified approach, spanning products, services, and markets, has been instrumental in driving our long-term, sustainable growth”.

He stated that this strong performance led NBK Group to report a net profit of KD 600.1 million in 2024, reflecting a 7.0% year-on-year increase. Total assets surged to KD 40.3 billion as of December 31, 2024, marking a 7.1% growth, driven by robust performance across diverse business segments.

Furthermore, Al-Sager highlighted that the loan portfolio grew by 6.4% year-on-year, reaching KD 23.7 billion. Customer deposits saw a notable increase of 4.2% compared to 2023, rising to KD 22.9 billion, while shareholders' equity climbed to KD 3.9 billion, reflecting a year-on-year growth rate of 5.9%.

Al-Sager noted that the return on average assets stood at 1.55% in 2024, compared to 1.53% in 2023, while the return on average shareholders' equity reached 15.1%, up from 15.0% in the previous year.

He further stated that NPL/gross loan ratio stood at 1.34% as of the end of 2024, while the NPL coverage ratio reached 263%. This underscores the robustness of NBK’s credit portfolio and financial position, reflecting the Bank’s prudent risk management policies.

“This strong performance has enabled the Board of Directors to reward shareholders with a semi-annual dividend of 10 fils per share and propose a distribution of 25 fils per share in cash dividends for the second half of 2024, bringing the total cash dividends for the year to 35 fils per share. Additionally, the Board recommended a 5% bonus share distribution; a move that underscores the bank's financial strength and resilience,” Al-Sager added.

Robust Operational Performance

Al-Sager emphasized that NBK Group’s core business segments were instrumental in driving the Group’s robust operational performance in 2024. 

Moreover, he highlighted the Bank’s commitment to delivering innovative and diversified banking solutions, spanning both conventional and Islamic banking through its Islamic banking arm, Boubyan Bank. He also noted key milestones during the year, including the launch of several fully digital prepaid cards and the continuous enhancement of the NBK Mobile Banking App, reinforcing the Bank’s leadership in digital banking.

“NBK Wealth (NBKW) has enhanced its wealth management capabilities, achieving notable growth in Assets under Management (AUM) while deepening client relationships through innovative initiatives. By diversifying its investment portfolio across multiple asset classes and expanding its product range, NBKW has successfully attracted new clients and reinforced its position as a leading wealth management powerhouse,” Al-Sager noted.

He further highlighted that in 2024, NBK forged strategic partnerships with leading institutions such as JPMorgan Asset Management and Intervest, further expanding its investment solutions and enhancing opportunities for its customers.

Moreover, Al-Sager emphasized that the Corporate Banking Group reaffirmed its market leadership over the past year by delivering strategic support aimed at driving customer growth. He highlighted the Group’s comprehensive solutions, including financial advisory services and efficient cash flow management, alongside its focused approach to expanding its client base by targeting high-growth companies and implementing advanced credit risk management strategies.

On the Consumer Banking Group front, Al-Sager highlighted that it successfully expanded its customer base by targeting new segments, including a tailored package for individuals entering the job market. He noted the introduction of innovative products such as digital prepaid cards, fixed savings accounts, and the Jeel account through the fully digital bank, Weyay, alongside the launch of several strategic initiatives aimed at enhancing customer experience.

Al-Sager also highlighted the success of NBK's International Banking Group (IBG) in maintaining a high-quality portfolio while expanding geographically. He noted the establishment of a Centralized Syndications Desk in the UAE, the diversification of operations in international markets through the launch of new retail banking services in Egypt and Bahrain, and the Bank’s ongoing efforts to explore innovative growth opportunities to drive expansion into promising markets.

“The Operations and Information Technology Group made significant strides in NBK's digital transformation journey in 2024, launching a range of innovative projects across multiple markets that reinforced the Bank’s leadership in delivering exceptional banking solutions, services, and digital products. Meanwhile, the Treasury Group focused on optimizing liquidity management by enhancing funding sources, reducing deposit maturities, and diversifying funding streams. These strategic initiatives played a crucial role in lowering financing costs while ensuring a strong and stable liquidity position, despite the challenges posed by regional geopolitical events,” Al-Sager indicated.

Inaugural Green Bond Issuance

Al-Sager stated that in 2024, NBK achieved significant progress in advancing its ESG strategy, marked by the successful issuance of its inaugural USD500 million green bond, a testament to the bank’s steadfast commitment to fostering a sustainable financial future and reinforcing its dedication to environmental responsibility.

Regarding NBK's social contributions, Al-Sager stated: “As the largest contributor to social responsibility in Kuwait, NBK's community investments reached KD 30 million (USD 97 million) in 2024, reflecting a 9% increase from the previous year”. He highlighted that these investments were channeled into key initiatives, particularly in youth development, healthcare, and environmental protection, reinforcing the bank's commitment to creating a lasting and positive impact on society.

Future Outlook

Commenting on the outlook for 2025, Al-Sager stated: “NBK remains committed to playing a pivotal role in Kuwait’s economic landscape by capitalizing on financing opportunities arising from the National Development Plan and mega projects. As part of our strategic expansion, we aim to further strengthen our presence in key international markets, with a strong emphasis on innovation and technological advancements to reinforce our leadership and drive sustainable growth.”

He added that despite ongoing geopolitical shifts, NBK remains optimistic about seizing emerging opportunities. In 2025, the Bank will maintain its focus on business diversification through digital transformation, reinforcing its digital infrastructure with cutting-edge technology and agile models. Additionally, Weyay Bank will continue expanding its customer base by introducing innovative digital products.

A Legacy of Trust

Concluding his address to shareholders, Al-Sager stated: “On behalf of the Executive Team, I extend our deepest gratitude to our shareholders and all stakeholders for their invaluable contributions to the Bank’s success. We reaffirm our unwavering commitment to safeguarding your interests and fostering our shared ambitions. Together, we will forge ahead toward a future defined by sustainable value creation, ensuring that our legacy of trust endures for generations to come.”

Prudent Policies

On the sidelines of the AGM, Ms. Shaikha Al-Bahar, NBK Deputy Group CEO, emphasized that the Bank's strong performance in 2024 underscores its agility in navigating market dynamics, driven by a commitment to innovation and a customer-centric approach that strengthens its future growth.

She highlighted that NBK's prudent risk management policies have reinforced its financial strength and sustained performance, further solidifying its market leadership. This resilience has enabled the Bank to navigate an evolving financial landscape, leveraging a flexible business model, a strategic focus on diversification and expansion, and a prudent approach to risk management.

International Banking Group

Al-Bahar highlighted that the International Banking Group (IBG) successfully navigated a challenging operating environment in the past year, overcoming economic uncertainties and currency fluctuations. She emphasized that the Group’s achievements were driven by the strength of NBK’s brand, an experienced team, and an innovative approach. The Bank further reinforced its financial position, with IBG’s assets accounting for 44% of NBK Group’s total assets and contributing 24% of net operating income and 23% of profits in 2024, underscoring its robust operational performance. 

She highlighted that IBG successfully maintained a high-quality asset portfolio across various markets. Over the past year, the Group expanded its real estate financing offerings for non-residents to include several European countries while reinforcing its diversification strategy across international markets. She noted that the Singapore branch has been leveraged as a key hub for Asia, while the Bank’s branch in France has played a pivotal role in expanding NBK’s presence within the European Union. Additionally, IBG conducted feasibility studies to explore new expansion opportunities, further strengthening its global footprint.

Furthermore, Al-Bahar noted that in the retail banking sector, IBG introduced tailored offerings designed to meet the needs of affluent clients. This included the launch of Beyond Banking in Egypt and Privilege Banking in Bahrain, underscoring the Group’s commitment to delivering premium banking services and staying ahead of evolving market demands.

“In 2025, the Group’s strategic priorities will remain focused on reinforcing risk management frameworks, optimizing operational efficiency through cost rationalization and advanced technological integration, in addition to deepening its commitment to sustainability by aligning operations with global ESG standards; solidifying its position as a responsible and sustainable financial institution,” Al-Bahar added.

Saudi Arabia and Egypt: Key Growth Markets

While reaffirming NBK’s position as an international bank with a strong presence across multiple markets, Al-Bahar emphasized that the Bank is currently prioritizing the GCC, particularly Saudi Arabia, which stands as one of the most significant growth markets within NBK Group’s international operations. 

She highlighted that the Bank serves a broad spectrum of sectors within the Saudi economy and maintains strong relationships with clients across various industries. She further noted that NBK is actively fostering the growth of its wealth management business in Saudi Arabia through NBK Wealth while expanding its offerings to clients with diversified funds and tailored wealth management services.

Moreover, Al-Bahar emphasized that alongside its focus on the Saudi market, NBK remains committed to the Egyptian market as a key growth driver and a long-term strategic investment. She reaffirmed the Group’s dedication to expanding its presence and further strengthening its position in the country.

Digital Solutions

Al-Bahar stated that in 2024, NBK reinforced its leadership position in Kuwait and the region, driven by substantial investments in technology and digital banking services over recent years. She emphasized the Bank’s commitment to shaping the future of fintech and staying ahead of global advancements in the sector. 

She also highlighted the Bank’s unwavering commitment to enhancing customer value by redefining the banking experience through innovative products and advanced digital solutions. This dedication was reflected in a diverse range of new offerings and strategic initiatives implemented across various business sectors in 2024, reinforcing NBK’s leadership in delivering cutting-edge banking services that not only meet but often exceed customer expectations.

Al-Bahar further emphasized that over the past year, NBK has continued to enhance its digital offerings to deliver a seamless and innovative banking experience. Notably, the NBK Mobile Banking App, Kuwait’s highest-rated mobile banking application, underwent significant advancements in 2024, introducing numerous enhanced services and new features.

Operational Automation

Al-Bahar highlighted NBK's advancements in leveraging artificial intelligence (AI) and automating banking processes, successfully implementing 102 technical operations using Robotic Process Automation (RPA) with a 98% success rate. She noted that the Bank is committed to expanding the adoption of RPA technology across its various international markets, having already deployed it in three global locations.

She emphasized that, as part of its forward-looking vision, NBK is committed to enhancing customer experience through cutting-edge technologies and data-driven strategies. Moreover, she highlighted the Bank’s future plans, which include refining user journeys in mobile and internet banking, advancing call center technologies, expanding customer engagement across social media platforms, and exploring AI applications to create greater value for both customers and the Bank. These initiatives reinforce NBK’s commitment to continuous innovation and adaptability in an evolving digital landscape. 

She reaffirmed NBK’s commitment to delivering best-in-class banking solutions by prioritizing customer feedback and leveraging it to drive informed decision-making. She explained that through advanced data analytics tools such as CleverTap, the Bank continues to gather comprehensive insights, enabling continuous enhancements to the customer experience while strengthening engagement and satisfaction. 

Furthermore, Al-Bahar highlighted the launch of the NBK Tech Academy last year, underscoring the Bank’s commitment to keeping pace with digital advancements in technology, information security, and data protection. She emphasized the vital role of digital skills in shaping the future of banking services, noting that the academy achieved remarkable success in its inaugural year, with 10 trainees successfully completing an intensive six-month training program. 

Social Initiatives

Al-Bahar affirmed NBK’s continued commitment to community initiatives over the past year, highlighting the expansion of the Bankee Program. This initiative, designed to enhance financial literacy, continues to equip school students with essential financial skills, fostering a deeper understanding of responsible money management from an early age. In its second year, the program grew to include 61 schools, engaging 32,235 students and 7,335 teachers. This expansion reflects the Bank’s dedication to fostering a financially aware and independent generation, promoting financial inclusion, and instilling a culture of savings. 

“As part of its unwavering commitment to fostering the next generation of women leaders, 2024 marked the launch of the second edition of the NBK RISE program, welcoming 25 trainees from diverse professional backgrounds,” Al-Bahar stated. She further emphasized that the program has earned widespread acclaim and prestigious accolades, including the Special Recognition for Developing Women Leaders award from MERIT and Best Bank for Diversity and Inclusion – Kuwait from Euromoney Magazine.

Innovation and Digital Transformation 

Reflecting on NBK’s achievements in 2024, Mr. Salah Al-Fulaij, CEO – NBK Kuwait, stated on the sidelines of the AGM that last year, the Bank successfully reinforced its leadership in Kuwait and strengthened customer loyalty through various strategic initiatives. He highlighted that customer satisfaction with NBK’s services and products remained exceptionally strong at 93%.

Al-Fulaij further emphasized NBK’s position at the forefront of financial institutions in digital innovation, noting that the bank received numerous prestigious awards in 2024 in recognition of its achievements in innovation, digital transformation, and advanced banking solutions that cater to evolving customer needs. Most notably, NBK was named " Best in Innovation- Global Winner” for 2024, outdoing conventional and Islamic banks, by Global Finance Magazine.

He added that NBK has continuously enhanced and upgraded NBK Mobile Banking App, introducing 65 new features over the past year to optimize both the user interface and overall customer experience. These advancements have positioned the app as a benchmark for digital banking excellence, earning several prestigious awards, including, Most Improved App for Digital Payments - Kuwait, Best in Innovation- Global Winner, and Best Mobile Banking App – Kuwait, from Global Finance Magazine.  

“While NBK remains committed to delivering innovative and comprehensive financial solutions to its existing customers, it is also strategically investing in the next generation. By focusing on the youth segment, the bank aims to build a solid foundation for sustainable future growth, ensuring long-term engagement and financial empowerment for young customers,” Al-Fulaij stated.

He emphasized that the remarkable success of Weyay Bank since its launch as Kuwait’s first digital bank in 2021, and the demand for its services surpassing expectations by four times, underscores the strong preference among the country’s youth for innovative digital banking solutions. He noted that in 2024, Weyay continued to cater to this demographic by introducing groundbreaking products, including the "Jeel" card, the "SELECT" digital prepaid card for students, and the saving pot "Pro", designed to foster a culture of financial responsibility and savings among young individuals. 

Advisory Role

Al-Fulaij stated that the Consumer Banking Group has focused on enhancing its digital offerings to provide a smoother, more secure mobile banking experience aimed at reducing costs, minimizing customer waiting times at branches, and improving overall satisfaction. He noted that in 2025, the Group will prioritize fostering a culture of forward-thinking, shifting from a traditional sales approach to an advisory role that aligns with customer needs. 

Additionally, the Group plans to develop self-service channels and expand its customer base by introducing innovative digital products tailored to various segments, including high-net-worth clients, youth, new entrants to the labor market, and retirees.

Dynamic Approach and Innovative Thinking

Al-Fulaij emphasized that despite the challenges posed by economic fluctuations and political tensions in 2024, the Corporate Banking Group successfully navigated the complex operating environment. The Group's remarkable adaptability and forward-thinking strategy empowered it to not only overcome these challenges but also effectively execute its strategic priorities, further reinforcing its position as a leader in the banking sector.

Commenting on the Corporate Banking Group's key priorities for 2025, Al-Fulaij said, “With major government projects set to resume, the outlook for Corporate Banking looks increasingly positive. NBK is poised to seize growth opportunities by enhancing its service offerings and driving operational efficiency through targeted strategic initiatives. The Bank will continue to adopt a proactive, customer-centric approach, further improving the user experience through Corporate Online Banking, ensuring smoother and more efficient services for our clients.” 

Small & Medium Enterprises (SMEs)

Al-Fulaij explained that NBK consistently strives to offer the SME sector a comprehensive range of competitive financing options, all supported by its world-class banking platform. He highlighted that, in recognition of its ongoing efforts to support SME financing and its position as the leading local bank in providing diverse, seamless, and efficient banking products and services tailored to meet the needs of SME customers, NBK was honored with the "Best Bank for SME in Kuwait" award at the 2024 Euromoney Excellence Awards.

Risk Management

Regarding the future of risk management at NBK, Al-Fulaij explained that in 2025, the Bank will continue to prioritize investing in human resources, embrace digital transformation, and integrate ESG factors into its risk management framework.

“By leveraging technology and strengthening our risk management capabilities, while staying aligned with the evolving regulatory environment, we aim to mitigate risks, enhance decision-making, and contribute effectively to the Bank's long-term sustainability and success,” Al-Fulaij added.

Professional Development

Al-Fulaij emphasized that NBK's exceptional operational and financial performance in 2024 was driven by the dedicated efforts of its exceptional workforce, acknowledging that the Bank’s employees are its most valuable asset and the cornerstone of its success. He further highlighted that throughout the past year, NBK’s human resources focused on fostering a work environment that empowers employees to excel, boosting their performance and elevating innovation across the organization. 

“Over the past year, the bank dedicated 101,463 hours to employee training through various initiatives, workshops, and educational programs designed to align with the evolving banking landscape. Of this total, 86,374 hours were conducted locally, while 15,089 hours took place at international locations. Notably, the employee satisfaction rate for all training and development programs reached an impressive 90%,” Al-Fulaij noted.

Additionally, he emphasized NBK's commitment to prioritizing employee well-being by introducing innovative initiatives, such as reducing working hours on Thursdays by one hour and offering luxury leave. Additionally, he highlighted the launch of a comprehensive strategy for Diversity, Equity & Inclusion (DEI), aimed at promoting equal opportunities at all levels and fostering a safe, supportive work environment for all employees.

Al-Fulaij noted that in recognition of its ongoing initiatives in this area, in 2024, NBK won the Gold Award for “Excellence in Health and Wellbeing” from the prestigious US-based Society for Human Resource Management (SHRM).

Kuwaitization Efforts  

Al-Fulaij highlighted that, as part of its ongoing efforts to empower national talent and strengthen their role in the economy, NBK continued its nationalization strategy (Kuwaitization) at a steady pace. By the end of 2024, Kuwaiti employees represented 78% of the Bank’s total workforce, with Kuwaiti citizens making up 92.3% of all new hires during the year. He emphasized that the bank is aligning its Kuwaitization goals with strategic requirements to attract top talent and skilled professionals, ensuring a sustainable workforce and contributing to the prosperity of the national economy. 

Al-Fulaij emphasized that NBK adopts a unique approach to ensure equal opportunities for all employees, regardless of gender, which is reflected in the fact that women represent approximately 43.2% of the total workforce within the NBK Group.

Election of the board of directors

The AGM elected 11 members of the bank’s board of directors for the next 3-year term, including 7 ordinary members and 4 independent members, in accordance with the law and the bank’s articles of association as well as the rules and instructions of the regulatory authorities.

Ordinary Board Members:

-- Hamad Al-Bahar

- Yaqoub Al-Fulaij

- Emad Al-Bahar

- Muthana Al-Hamad

- Isam J. Al-Sager

- Haitham Al-Khaled

- Huda Al-Refaei

Independent board members:

- Farouq Bastaki

- Abdulwahab Al-Bader

- Anas Al-Saleh

- Yousef Al-Obaid

Kuwait: NBK Accelerates Its Commitment to a Sustainable Future

NBK remains unwavering in its commitment to embedding sustainability at the core of its business, operations, and corporate culture, driving forward a vision of sustainable growth that aligns with the highest global standards.

In 2024, the bank achieved significant milestones in executing its ESG strategy, demonstrating notable progress toward a sustainable future through a range of innovative initiatives, practices, and solutions.

Amid the escalating global challenges posed by climate change, the Bank has introduced a series of initiatives in 2024 focused on mitigating its impact, accelerating the shift to a low-carbon economy, advancing green projects, and bolstering economic resilience against environmental crises.

Moreover, NBK Group continues to prioritize diversity, equality, and inclusion throughout its operations, while creating value for stakeholders and empowering communities in the markets it serves by ensuring banking services are accessible to everyone.

In 2024, NBK achieved significant progress across the four pillars of its ESG strategy—Governance for Resilience, Responsible Banking, Capitalizing on our Capabilities, and Investing in our Communities. This advancement underscores NBK's leadership in shaping a better, more sustainable, and prosperous future for all.

Governance For Resilience

Under the pillar of Governance for Resilience, NBK has reached several key milestones in advancing its ESG strategy in 2024. 

As a trailblazer in sustainability, NBK became the first bank in Kuwait and the sixth bank in the Middle East and North Africa (Mena) to join the Partnership for Carbon Accounting Financials (PCAF) initiative. Joining this initiative puts NBK alongside the world’s leading financial institutions in measuring and managing greenhouse gas emissions linked to their lending and investment portfolios.

The PCAF initiative seeks to support financial institutions in their efforts to reduce greenhouse gas emissions by offering methodologies for measuring and disclosing emissions linked to various asset classes within their lending and investment portfolios. These asset classes include listed equity and corporate bonds, business loans and unlisted equity, project finance, commercial real estate, mortgages, motor vehicle loans, and sovereign debt. 

This significant step reinforces NBK's commitment to sustainability and its goal of achieving carbon neutrality by 2060. It also supports the bank's efforts to enhance the measurement and disclosure of greenhouse gas intensity in its customers' activities, facilitating efforts to reduce carbon footprints and promoting the transition to a low-carbon economy.

The PCAF initiative is a crucial component of NBK's risk management framework, strengthening the bank's capacity to consistently assess carbon intensity and emission concentrations within its lending and investment portfolios. It also enhances NBK's ability to evaluate and manage climate-related risks and opportunities effectively.

The Bank also remained committed to the principles of the United Nations Global Compact (UNGC), having joined its ranks in 2023. Notably, in 2024, NBK submitted its first Communication on Progress, further demonstrating its commitment to transparency and responsible growth. As the largest corporate sustainability initiative for responsible business practices, the UNGC underscores NBK's dedication to supporting practices that drive the sustainable development of Kuwait’s economy.

The charter, which brings together more than 25,000 companies and nearly 3,000 non-commercial entities in 167 countries around the world, is an important opportunity to collaborate with companies and organizations with a common vision and share best practices and ideas on how to make a positive impact on society and the environment. 

In the meantime, NBK has enhanced its capabilities to address economic, environmental, and social risks across all segments of the Group, while establishing a strong and effective ESG governance framework both in Kuwait and internationally. The bank has also integrated climate change risks into Pillar II of the Internal Capital Adequacy Assessment Process (ICAAP).

In 2024, NBK institutionalized the alignment of its standards with the recommendations of the Task Force on Climate-Related Financial Disclosures (TCFD), a framework designed to help companies address the increasing demand for transparency regarding climate-related risks and opportunities. The bank also developed a comprehensive, Group-wide environmental and social risk management framework.

Responsible Banking

As part of its responsible banking efforts, the second pillar of NBK's ESG strategy, the bank successfully issued its inaugural $500 million green bond in 2024. This issuance, part of its global medium-term securities program, has a 6-year maturity and first call date after 5-years.

This landmark transaction marks the first green bond issuance by a Kuwaiti financial institution. It also stands as one of the largest green issues by a conventional financial institution in the region and represents the first green bond issuance by a bank in the Middle East in 2024.

Throughout 2024, NBK remained at the forefront of sustainable finance, offering tailored financing solutions and supporting customers in adopting sustainable business models. The bank capitalized on the growing trend towards sustainable finance by launching a range of green transformation services and products across the Group, including green mortgage loans, sustainability-related financing, low-emission housing loans, and reduced interest rates on loans for electric and hybrid vehicles.

The Bank has also introduced a Sustainable Procurement Strategy Framework, a comprehensive approach to sourcing products, services, and goods. This strategy considers the environmental, social, and economic impacts across the entire supply chain, ensuring that procurement decisions not only meet immediate needs but also align with broader sustainability objectives.

To accelerate the transformation of its branch network into an environmentally friendly and energy-efficient operation, NBK completed the installation of solar panels in 18 of its branches across Kuwait in 2024. This initiative is part of the bank’s commitment to reducing carbon emissions and supporting Kuwait’s sustainability goals in alignment with Vision 2035.

This initiative reaffirms the bank's commitment to its interim goal of reducing total operating emissions by 25% by 2025, as part of its broader objective to achieve carbon neutrality by 2060.

Capitalizing on Our Capabilities

As part of its tangible efforts to enhance sustainability, NBK Kuwait employees received a total of 1,392 training hours dedicated to ESG topics in 2024, with a focus on sustainability awareness, sustainable finance, and climate risk management.

NBK continues to promote equal opportunities as it finalizes its Diversity, Equity, and Inclusion (DE&I) strategy and implements its supporting statement. 

The bank implemented several strategic initiatives and specialized programs provided by the Bank to support and develop women leaders, which helped increase the number of women holding leadership and supervisory positions at all levels of the Bank.

NBK takes pride in being the workplace of choice that supports equal opportunities for both male and female employees. There are 347 professionals in science, technology, engineering, and mathematics (STEM) working in NBK, with women representing 28.8% of this workforce. 

Investing in Our Communities  

NBK is dedicated to leaving a lasting social impact and creating value in the communities where it operates through its community investments. The bank strives to provide the best service to its customers, safeguard their interests, and protect their rights, while also promoting financial inclusion, enhancing access to financial services, and improving financial literacy.

Consolidating its leadership as the largest contributor to social responsibility in Kuwait, the total value of community investments made by the bank reached KD 30.19 million in 2024, marking a growth of 9.1% compared to 2023.

NBK is also committed to contributing KD 8 million to the redevelop Sharq area, with new parking facilities and enhanced green spaces, in addition to donating KD 3 million for the development and beautification of Shuwaikh Beach. These initiatives underscore the bank's commitment to supporting the sustainable development of Kuwait’s economy and aligning with the nation's development vision. 

In support of entrepreneurs in Kuwait, NBK provided loans to SMEs in 2024 totaling KD 25.04 million, marking a growth of 23.5% compared to 2023.

Additionally, as part of its ongoing commitment to societal development, particularly in the field of education, NBK continued to provide comprehensive support for the advancement of this sector. 

The Bankee program, one of the bank's most prominent initiatives aimed at enhancing financial literacy and awareness among school students in Kuwait, continued its activities for the second academic year. During the 2024-2025 academic year, the program reached 61 schools, 7,335 teachers, and 32,235 students, building on the remarkable success achieved in the previous year.

Moreover, as part of its commitment to environmental stewardship and responsible waste management, NBK successfully recycled approximately 86% of its total paper consumption in 2024, reinforcing its dedication to sustainability and resource conservation.

In line with its commitment to enhancing the health, safety, and well-being of its employees, NBK has launched several initiatives and policies designed to ensure the highest standards of care, in accordance with international regulations. Additionally, the Bank operates a medical clinic, managed by Wara Hospital, offering specialized medical support to employees. This is complemented by various awareness campaigns, focusing on mental health, as well as raising awareness of breast cancer and diabetes.

Prestigious Awards and Rankings

In a global recognition of NBK's leadership in sustainability, Mr. Isam Al-Sager, Vice Chairman and Group CEO of NBK, was recognized as Kuwait's Top Sustainability Leader and Ranked Third in the Middle East by Forbes. 

Forbes based its ranking on a set of criteria, including the overall impact of sustainability initiatives at both regional and international levels. The evaluation considered the process of issuing sustainability and ESG reports, with an emphasis on transparency and accuracy, as well as efforts to reduce greenhouse gas emissions. Other factors included waste management, the efficient use of water, energy, and other resources, along with the bank's commitment to renewable energy and the adoption of energy-saving technologies.

NBK's sustainability efforts were further recognized in 2024 with several prestigious awards, including the title of the Best Bank for ESG-Related Loans in the Middle East by Global Finance magazine. This accolade highlights the bank's significant strides in sustainable finance, along with its other initiatives aimed at mitigating the adverse impacts of climate change and contributing to the creation of a more sustainable future for all.

Euromoney Magazine also awarded NBK the Best SME Bank in Kuwait in recognition of its efforts in supporting SME financing and confirming its leading position as the best bank in the local banking sector in providing smooth and fast banking services and products that meet all the needs of SME customers and help in their development.

NBK also received Euromoney's award for “Best Bank for Diversity and Inclusion in Kuwait” recognizing its Global Women Leadership Initiative “NBK Rise”, a global program dedicated to promoting and supporting women leaders. This prestigious award underscores the bank's commitment to fostering an inclusive work environment where all employees can thrive. It reflects the bank's ongoing efforts to empower women and cultivate a culture of diversity and inclusion, which has become a key driver of organizational success.

For the second consecutive year, NBK received a score of "C" from CDP in the categories of Climate Change and Forests 2024. This recognition makes NBK the only bank in Kuwait to receive a rating under the CDP and places it among the highest-rated financial institutions in the GCC within the project. 

This designation aligns with the Bank's roadmap to strengthen its commitment to transparency in disclosing the environmental impacts of its operations and its efforts to reduce emissions. NBK's involvement in the Carbon Disclosure Project dates back to 2024, when it began submitting its initial disclosures. 

Further solidifying its commitment to ESG excellence, Sustainalytics assigned NBK a “27.1” Medium Risk ESG Rating, reinforcing its dedication to managing ESG risks effectively. 

Additionally, S&P Global recognized NBK’s significant progress with an improved CSA score of 39/100, marking an almost 9-point increase. Meanwhile, MSCI reaffirmed the bank’s sustainability performance with a “BBB” rating, reflecting NBK’s ongoing efforts to integrate ESG considerations into its strategy. These strong ratings underscore the bank’s progress in embedding sustainability into its business model and applying ESG standards.

Agreements & Partnerships

In 2024, NBK entered into a strategic partnership with DHL, a global leader in shipping, to adopt DHL GoGreen Plus, becoming the first bank in Kuwait to join this global sustainability initiative.

By joining GoGreen Plus, 100% of NBK's international shipments will be transported using sustainable aviation fuel (SAF) instead of conventional aviation fuel, resulting in a significant reduction in carbon emissions. This move aligns with the bank's ongoing commitment to achieving carbon neutrality by 2060.

In support of the transition to a sustainable, low-carbon economy and aligned with Kuwait's comprehensive vision for sustainability and global efforts to mitigate the effects of climate change, NBK participated in the 29th session of the Conference of the Parties (COP29) to the UN Framework Convention on Climate Change in Baku, Azerbaijan. The bank also engaged in the 16th Conference of the Parties to the United Nations Convention to Combat Desertification (UNCCD) held in Riyadh, Saudi Arabia, to contribute to discussions on global initiatives to combat desertification and land degradation.

2025 Goals 

NBK aims to further advance its journey towards a sustainable future in 2025 by achieving a series of key objectives within its ESG strategy, including the following:

• Accelerate sustainable financing efforts, aligning with the Bank's goal of building a sustainable asset portfolio worth approximately $10 billion by 2030.

• Publish the Bank's first green bond impact and allocation report, following the issuance of $500 million green bond in 2024.

• Achieve a key milestone in sustainability by publishing the first Task Force on Climate-Related Financial Disclosures (TCFD) report.

• Strengthen relationships with corporate clients, collaborating closely to support their carbon reduction objectives.

• Establish a benchmark for emissions within the Bank’s portfolio.

• Announce a comprehensive plan to achieve carbon neutrality by reducing emissions.

• Launch an Environmental and Social Risk Management (ESRM) framework aimed at enhancing capacity building, while increasing training hours focused on ESG, climate risk management, and sustainable finance.

Numbers and statistics:

• In 2024, NBK issued a $500 million green bond, the first of its kind for a Kuwaiti financial institution. 

• KD 30.19 million value of community investments made by the Bank in 2024, marking a growth of 9.1% compared to 2023.

• KD 25.04 million bank loans to SMEs in 2024, marking a growth of 23.5% compared to 2023.

• KD 8 million to establish a park and parking facilities in Sharq area.

• KD 3 million for the development and beautification of Shuwaikh Beach.

• 1,392 training hours for NBK employees in 2024 on topics related to Governance, Sustainability and Climate Risk Management.

• Solar panels were installed at 18 branches of the bank in Kuwait as part of its commitment to sustainability. 

• 347 professionals in science, technology, engineering, and mathematics (STEM) working in NBK, with women representing 28.8% of this workforce.

• Successfully recycled 86% of its total paper usage.

Kuwait: NBK Hosts a Panel Discussion on the "Let’s Be Aware" Campaign at Petrochemical Industries Company

National Bank of Kuwait (NBK) held a panel discussion at Petrochemical Industries Company (PIC) headquarters to promote banking awareness, enhance financial literacy among employees, and highlight the latest fraud tactics. The session focused on preventive measures and essential steps to safeguard against financial fraud, reinforcing NBK’s commitment to fostering a more informed and secure banking environment.

This initiative reflects NBK’s commitment to strengthening collaboration with oil sector institutions and working collectively to combat fraud and cybercrime. It also underscores the bank’s support for the Central Bank of Kuwait’s "Let’s Be Aware" campaign—launched in partnership with Kuwaiti banks and Kuwait Banking Association —which stands as the largest financial awareness initiative of its kind in the region.

These visits exemplify NBK’s ongoing commitment to promoting financial literacy across society. The "Let’s Be Aware" campaign extends beyond fraud awareness, encompassing crucial topics such as maximizing the benefits of banking services and products, fostering a culture of savings and investment, and addressing other key financial issues.

 Leveraging its long-standing and distinguished relationships with oil sector institutions, National Bank of Kuwait remains committed to fostering financial awareness and security. As part of this effort, the bank actively organizes visits, awareness sessions, and discussions designed to equip employees with a deeper understanding of fraud risks and the evolving tactics used by fraudsters to execute their schemes. As digital advancements and AI-powered banking services become more prevalent, the majority of transactions are now conducted via smartphones. This makes financial awareness more critical than ever, enabling individuals to make informed and secure financial decisions in an increasingly digital landscape.”

NBK firmly believes that awareness is the strongest defense against fraud and remains committed to amplifying its educational content across social media platforms to safeguard customers' interests, strengthen their trust, and ensure a secure banking environment. With the rapid advancements in technology and artificial intelligence, financial fraud tactics have become more sophisticated, making proactive awareness and vigilance more essential than ever.

NBK emphasized the importance of staying vigilant against evolving fraud tactics to stay ahead of emerging threats The bank urged customers to remain vigilant and leverage the advice and guidance it provides across all its digital platforms to safeguard their financial security. It was further explained that fraudsters are increasingly leveraging advanced artificial intelligence technologies to ensnare unsuspecting victims. In response, the bank remains committed to monitoring these sophisticated and deceptive methods, issuing timely public alerts, and outlining clear, actionable steps to minimize the risk of falling prey to fraudulent activities.

NBK remains steadfast in its commitment to supporting pivotal and strategic initiatives that serve the national economy and society. At the core of its strategy lies a strong emphasis on combating fraud and empowering customers through financial education, reinforcing trust and security in the banking sector.

NBK leverages its extensive capabilities, including its industry-leading digital platforms with the largest following among Kuwaiti banks, to maximize the reach and impact of the "Let’s Be Aware" banking awareness campaign, ensuring its objectives resonate with the widest possible audience.

As a leading financial institution in the region, NBK actively organizes a wide range of events to educate the community on key banking sector issues. The bank also conducts specialized training programs to enhance its employees' expertise in combating fraud and financial crimes while leveraging its digital channels and social media platforms to raise awareness about cybercrime risks and fraud prevention.

Kuwait: NBK Recognized for Excellence in Data-Driven Decision Making

Further cementing its leadership in innovation, National Bank of Kuwait (NBK) was honored with the "Best use case of data driven decision making" award at the Ninth Middle East Banking AI & Analytics Summit 2025, recently held in Dubai.

The award recognizes NBK’s successful implementation of self-service analytics through Tableau Data Management across the bank.

The Middle East Banking AI & Analytics Summit Awards are the first and largest independent accolades recognizing AI and analytics excellence in banking across the MENA region, evaluated by a panel of expert judges.

The award underscores NBK's continued leadership in the fast-evolving technology landscape, reflecting its strategic commitment to investing in data analysis and processing. This approach enables the Bank to gain deeper insights into customer needs and behavior while enhancing operational efficiency.

NBK's Data Office strategy is designed to empower the bank's various business sectors with data-driven decision-making, with self-service analytics serving as a core pillar of this approach.

The strategy also outlines a roadmap to enhance employee efficiency through cutting-edge programs and specialized workshops on advanced visual analytics, statistical analysis, forecasting reports, and the creation of high-performance dynamic data visualizations, alongside fostering design thinking.

The award is a testament to the Data Office team's efforts in advancing the bank's data landscape and analytical tools. It underscores the success of NBK's strategy in fostering a digital culture and enhancing AI-driven data analysis and processing, enabling more precise predictions of customer behavior and needs.

The Middle East Banking AI & Analytics Summit is the region's premier  and only AI and data analytics event, uniting over 300 senior executives and decision-makers from the banking and financial services sector across the GCC.

The summit spotlighted the transformative impact of generative AI on business processes, best practices in risk management, leveraging quantitative AI for future opportunities, and the role of AI and analytics in decision-making. It also addressed key topics such as regulatory compliance in banking, payment innovations, cloud-based solutions, and AI integration to enhance customer trust.

NBK's Data Center was designed and developed in line with the highest international standards, enabling the bank to analyze vast amounts of data to assess customer trends and needs. This capability empowers NBK to make swift, data-driven decisions that align with customer aspirations and expectations.

Kuwait: NBK Signs a Letter of Intent with Kuwait Society of Engineers for Recruiting National Talent

Reflecting its dedication to attracting Kuwaiti talent and supporting national economy and Kuwait Vision 2035 by increasing Kuwaitization in the private sector, National Bank of Kuwait (NBK) signed a letter of intent for a strategic partnership with Kuwait Society of Engineers, to recruit national talent from fresh graduates from various engineering majors.

The agreement was signed by Mr. Emad Al-Ablani, GM – Group Human Resources at National Bank of Kuwait, and Eng. Fahad Al-Otaibi, Secretary of Kuwait Society of Engineers, in the presence of a number of executives from both sides.

According to the letter of intent, the Employment Center at the Society of Engineers will provide NBK with the CVs and certificates of experience of registered Kuwaiti engineers who are willing to apply for jobs through the center, whereas NBK will announce the required jobs in engineering majors on the Society’s website or by any other means agreed upon by both sides. 

Commenting on this, Al-Ablani said, “We are pleased to sign this strategic partnership with a prestigious organization such as the Kuwait Society of Engineers. Through this partnership, we seek to attract the best Kuwaiti talent in various engineering disciplines, as part of our strategy to promote sustainability and increase the localization of jobs in the banking sector,” 

“This agreement will enable us to have greater access to national professionals in various engineering majors as well as young talents with new visions and innovative ideas that will help strengthen our organizational capabilities. The bank will provide them with the necessary training and development programs to enhance their efficiency and expertise, thus ensuring a high-quality and sustainable workforce,” he remarked.

“NBK maintains long-standing solid relationships with all public and private sector institutions, which we leverage to join efforts in serving our Country and work with all partners to support the economy and create job opportunities for national talent from fresh graduates, develop their skills and prepare them to be an active workforce in the future,” he emphasized.

On his part, Eng. Faisal Al-Atel, Chairman of Kuwait Society of Engineers said, “We are pleased to enter into this strategic partnership with a leading and a reputable bank of NBK’s stature, indicating that the Society is ready to extend all sorts of cooperation with the bank to realize the common vision of both sides.

NBK always seeks to solidify its leadership among private sector institutions in attracting, training, upskilling national talent. It also stands out as the private sector employer of choice and top recruiter of national talent and professionals, while also having the highest national employee retention rate.

Kuwait: NBK Hosts Fraud Awareness Session for Dasman Bilingual School Students

In line with its ongoing commitment to promoting banking culture and enhancing financial awareness across all segments of society, National Bank of Kuwait (NBK) held a fraud awareness and prevention session at Dasman Bilingual School. The initiative aligns with NBK’s support for the “Let’s Be Aware” banking awareness campaign, launched by the Central Bank of Kuwait (CBK) in collaboration with Kuwait Banking Association (KBA).

The session, attended by over 100 middle school students, shed light on the latest prevalent fraud tactics, how they are executed, and the deceptive methods employed by fraudsters. It also provided essential tips and guidance on safeguarding against such schemes and ensuring online security.

The session saw remarkable engagement, with students actively interacting through the real-life examples and cases presented by the NBK team. The discussion was further enriched by numerous student inquiries, to which the team provided insightful responses. Beyond raising awareness, the session aimed to equip students with the knowledge and vigilance needed to proactively safeguard their personal data while using social media.

The NBK team shared several key fraud prevention tips, emphasizing the importance of using strong and secure passwords with a minimum of eight characters, incorporating letters, numbers, and symbols. They highlighted that the longer the password, the harder it is to crack, while also advising against using personal information or reusing the same password across multiple accounts. This precaution is crucial, as a security breach on one device could compromise all linked online accounts if the same password is used.

The team also cautioned against clicking on suspicious links, whether received through social media or emails from fraudulent sources that impersonate reputable institutions such as banks, telecommunications providers, or major corporations. These deceptive tactics are designed to steal banking or personal information, making vigilance and verification essential to safeguarding one's data.

The team also emphasized the importance of never responding to messages or phone calls claiming to be from the bank and requesting personal or banking information. Fraudsters increasingly use artificial intelligence tools to manipulate communications, making phone numbers appear local within Kuwait to deceive victims. To ensure security, no banking details should ever be shared with any individual or entity.

Furthermore, the NBK team reaffirmed that the bank will never request personal information via email, text messages, or phone calls. They cautioned against responding to such messages, as they are fraudulent attempts designed to steal banking information, sensitive data, or funds.

Commenting on the event, Farah Bastaki, Manager, Digital Communications at National Bank of Kuwait stated: “Awareness serves as the first and most effective line of defense against fraud. That is why we remain committed to expanding the awareness content shared across our social media platforms to educate the public, strengthen their confidence in the banking sector, and ensure a secure banking environment. This commitment is particularly crucial amid rapid technological advancements and the increasing sophistication of financial fraud driven by artificial intelligence.”

“We are continuously striving to enhance financial awareness and promote banking culture across all segments of society, including school and university students as well as our senior community members. Our commitment extends to innovating new approaches that enrich the content of the 'Let’s Be Aware' campaign, empowering the public with the knowledge needed to safeguard their data and bank accounts,” she added.

Bastaki emphasized that NBK leverages its extensive capabilities in customer communication, utilizing its wide-reaching digital channels—the most followed among Kuwaiti banks—to ensure that the objectives of the "Let’s Be Aware" campaign reach the broadest possible audience.

NBK remains dedicated to championing strategic campaigns that drive meaningful impact on the national economy and society. Its steadfast commitment to fraud prevention and raising customer awareness serves as a cornerstone of its broader strategy, reinforcing trust and financial security.

The campaign, launched by the Central Bank of Kuwait (CBK) in collaboration with Kuwait Banks Association (KBA), is the largest of its kind in the region. It aims to enhance banking and financial awareness among customers by covering key topics such as fraud prevention measures, best practices for utilizing banking services, and fostering a culture of savings and investment, along with other relevant financial issues.

NBK is a key supporter and strategic partner of all CBK campaigns and initiatives aimed at enhancing financial literacy and promoting banking awareness across all segments of society. As a leading financial institution, NBK consistently organizes various initiatives and events that raise awareness about critical banking sector issues.

Kuwait: NBK Launches Ramadan 2025 “Doing Good Deeds” Campaign with Interactive Community Initiatives

As part of its continued commitment to social responsibility, National Bank of Kuwait (NBK) is launching its annual Ramadan campaign, “Doing Good Deeds,” which has been a cornerstone of its CSR initiatives for over 25 years. This year’s program introduces new community-driven activities designed to strengthen social bonds and promote generosity during the holy month.

Manal Faisal Al Mattar, Head of Group Corporate Communications at NBK, stated: “We have expanded our Ramadan program this year to include more interactive initiatives that engage with the community, support families, and reinforce values of generosity and social solidarity. Our goal is to create a meaningful and lasting impact throughout the holy month.”

Raising Awareness on Sustainability

Reduce Food Waste Campaign: NBK is launching a campaign to encourage food conservation and minimize waste. Refrigerators will be placed at 12 NBK branch entrances (two in each governorate) to collect surplus food. The community is encouraged to donate excess food, embracing a culture of sustainability and social responsibility.

Embracing The True Spirit of Ramadan Through Community Participation

“Your Iftar with NBK” This social initiative is designed to create meaningful connections md strengthen community bonds during Ramadan. As part of this effort, NBK will distribute shopping vouchers at leading supermarket chains, enabling families to fully embrace the spirit of Ramadan together.

Encouraging Physical Activity During Ramadan

NBK Ramadan Challenge NBK will host a 10-day sports and social event at Al-Shaheed Park. Participants can select their preferred challenges, promoting an active and healthy lifestyle in the spirit of Ramadan.

Interactive Knowledge-Based Challenge

NBK Cultural Competition: A digital cultural competition will be hosted through a dedicated app, featuring general knowledge and cultural questions throughout Ramadan. The two-day competition will award valuable prizes to the top three winners, fostering community engagement through both entertainment and education.

Celebrating Ramadan Traditions

NBK Gergean with Boqshah: In collaboration with Boqshah Exhibition, NBK will be the official sponsor of an interactive Gergean celebration. The initiative, “Reserve Your Spot for Your Kids’ Gergean,” will be open to the public with limited registrations, creating a joyful community experience for families during this cherished Ramadan tradition.

Spreading Festive Joy

Before Eid, NBK will engage with the community at Souq Al-Mubarakiya and other popular locations by distributing special Ramadan gifts, including incense burners, oud, perfumes, and traditional fabric sets. This gesture aims to spread joy and celebrate the spirit of giving.

Promoting Road Safety Awareness

NBK is launching a road safety initiative to encourage responsible driving before Iftar. Light meals will be distributed to drivers at key locations to remind them to slow down and drive safely before Maghrib prayer. This initiative aims to reduce traffic accidents and promote safer roads during Ramadan.

NBK’s Commitment to Social Responsibility

Concluding her statement, Al Mattar emphasized NBK’s long-term dedication to sustainable initiatives, stating:“We believe that community work is an investment in the future. That’s why we continue to introduce initiatives that foster generosity, awareness, and social cohesion—solidifying NBK’s role as a key contributor to Kuwait’s society.”

Kuwait: NBK Hosts Its Annual Graish Event to Celebrate Employees

As the holy month of Ramadan approaches, symbolizing unity and gratitude, National Bank of Kuwait (NBK) reaffirmed its appreciation for its employees’ dedication by celebrating them at the annual Graish ceremony. This year’s event took place at Sheikh Jaber Al-Ahmad Cultural Center, in the presence of the bank’s executive management.

Through this event, NBK seeks to uphold the rich traditions and family values deeply rooted in Kuwaiti society, foster stronger connections among employees across all departments, and recognize their vital contributions to the bank’s ongoing success.

The event commenced with a brief address by Mr. Isam Al-Sager, Vice Chairman & Group Chief Executive Officer of National Bank of Kuwait, who extended his congratulations to all employees in anticipation of the holy month of Ramadan.

In his speech, Al-Sager emphasized NBK’s long-standing tradition of organizing Graish ahead of Ramadan each year as a tribute to employees’ dedication and contributions. He highlighted that their unwavering commitment and collective spirit have been instrumental in maintaining the bank’s leadership in the banking sector.

Attended by over 1,700 employees, the ceremony provided a vibrant setting for colleagues to exchange Ramadan greetings and celebrate the cherished Kuwaiti tradition of Graish. This annual gathering not only honors cultural heritage but also reinforces NBK’s commitment to fostering a strong family spirit across the organization.  

The two-and-a-half-hour ceremony featured a variety of activities, including entertainment segments, musical performances, and engaging competitions, along with exciting prize draws. The event was met with great enthusiasm from attendees, creating a lively and memorable experience.

The Graish celebration organized by NBK for its employees this year was elevated by the enchanting presence of high-end music. A musical ensemble, led by maestro Dr. Khaled Nouri, captivated the audience with a selection of renowned songs and distinctive melodies, creating a magical ambiance. The evening became even more memorable as a group of NBK employees joined the band in playing and singing, adding a personal and heartfelt touch to the celebration.

On this special occasion, NBK sought to cultivate a spirit of camaraderie and excitement among its employees by hosting a series of engaging competitions throughout the event. The celebration was further elevated with the distribution of prestigious prizes, creating an atmosphere brimming with energy, anticipation, and joy.

Acknowledging employees' dedication and cultivating strong interpersonal connections form the foundation of NBK’s strategic vision. This commitment underscores the importance of seamless communication, values individual contributions, and fosters a culture of teamwork, productivity, and synergy across the bank’s diverse departments.

NBK firmly believes that its employees are its greatest asset and the driving force behind its continued success. No institution can achieve its strategic objectives without the dedication, active participation, and commitment of its people. With this in mind, the bank continuously strives to inspire its employees, foster their professional growth, and unlock their full potential. 

The strong team spirit that unites NBK’s workforce across all departments serves as the foundation of its achievements, enabling the bank to deliver world-class banking services that rival those of leading global institutions.

NBK places great emphasis on social and cultural initiatives that strengthen employees' sense of belonging and job satisfaction while fostering a spirit of collaboration and teamwork. By cultivating an inspiring work environment that encourages creativity and innovation, the bank ensures that these values translate into exceptional service quality, reinforcing its commitment to delivering an unparalleled banking experience to its customers.

Kuwait: KFAS Launches "TechEdge" Program to Empower Kuwaiti Youth in Strategic Partnership with NBK and Zain

The Kuwait Foundation for the Advancement of Sciences (KFAS) has launched the "TechEdge" program, a strategic initiative developed in collaboration with National University of Singapore, National Bank of Kuwait (NBK), and Zain. This program aims to equip young Kuwaiti professionals with advanced expertise in high-demand technological fields—such as artificial intelligence, data science, and cybersecurity—preparing them to excel in these rapidly evolving sectors.

The program aims to underscore the vital importance of cybersecurity and data protection amid growing digital challenges. By equipping participants with in-depth knowledge of cutting-edge technologies and tools, it empowers them to counter cyber threats and strengthen digital infrastructure. Beyond enhancing technical expertise, the initiative prepares young professionals to navigate the evolving demands of an increasingly digital world.

This initiative supports New Kuwait Vision 2035 by fostering the Kuwait Foundation for the Advancement of Sciences (KFAS) collaboration, driving economic diversification, and advancing digital transformation. By equipping the workforce with cutting-edge skills, it strengthens Kuwait’s path toward a resilient, technology-driven future.

On this occasion, Emad Al-Ablani. General Manager - Head of Group Human Resources remarked, “Our commitment lies in developing a highly skilled national workforce capable of excelling in a rapidly evolving labor market driven by technological advancements. By providing them with the necessary expertise and tools, we empower them to lead in advanced technology fields. This initiative not only reinforces sustainable development but also accelerates Kuwait’s digital transformation, aligning with the country’s broader strategic vision.” 

“The “TechEdge” program represents a significant opportunity for early-career professionals to enhance their expertise. Through high-quality educational and training initiatives delivered in partnership with the National University of Singapore—a globally recognized leader in technology—the program is poised to equip participants with the skills needed to excel in cutting-edge fields. This collaboration underscores our commitment to fostering talent and driving innovation in Kuwait's technology sector,” he added.

Al-Ablani emphasized the bank's dedication to playing a pivotal role in the developmental journey of Kuwait's youth, who are brimming with potential and capabilities. "Our focus is on providing the right guidance and resources to harness their talents effectively, ensuring they contribute meaningfully to the nation's sustainable development goals," he concluded.  

Nawal Bourisli, Chief Purpose and HR Officer at Zain Kuwait, said: "This partnership embodies Zain’s continuous efforts to contribute to the development of the knowledge economy, capacity building, and fostering innovation among youth, particularly in digital and tech skillsets that shape our world today. Innovation is one of the key drivers of sustainable growth, and this is precisely what we aim to achieve through our support of the TechEdge program, launched in collaboration with one of the world’s leading academic institutions, the National University of Singapore." 

She added: "This collaboration reflects the synergy between the public and private sectors in advancing the country’s developmental goals, with a primary focus on investing in human capital to drive sustainable economic and social development. It is yet another addition to Zain’s ongoing programs under our ‘Innovation Nation’ initiative, through which we collaborate with leading entities to achieve our strategic objectives in this field."

She continued: "Through this partnership, we seek to support innovators and entrepreneurs, share private sector expertise, foster a culture of creativity, and invest in the digital skills of youth, particularly in STEM (Science, Technology, Engineering, and Mathematics) fields, which have become a top priority in modern job markets."

Last year, NBK unveiled the NBK Tech Academy, marking a significant milestone as Kuwait's first academy dedicated to digital technology and data systems. This initiative underscores the bank's commitment to staying at the forefront of digital advancements in technology, information, and data security. The academy features a comprehensive professional training program designed to nurture young Kuwaiti talent across a range of critical areas, including FinTech, Data Analytics, Ethics in Technology, Cyber Security, Fundamentals of Digital Payments, Digital Innovation, Artificial Intelligence, Scripting and Programming, Fundamentals of Codifications, and Finance for Non-Finance Professionals.  

Through its "Innovation Nation" initiative, Zain is committed to strengthening Kuwait’s innovation and creativity ecosystem by offering interactive programs and activities throughout the year in collaboration with leading academic and cultural institutions from both the public and private sectors. This initiative targets youth, students, graduates, and entrepreneurs, covering a wide range of professional and personal development areas, with a particular focus on digital and technological capabilities such as robotics, data science, programming, artificial intelligence, and more, contributing to the development of the next generation of technology leaders in Kuwait.

Kuwait: NBK Strengthens Longstanding Partnership with LOYAC through a Strategic Agreement

As part of the continuing collaboration between National Bank of Kuwait (NBK) and LOYAC, both parties have signed the "Sustainability for Kuwait" agreement—a strategic partnership dedicated to empowering and developing Kuwaiti youth while fostering a more sustainable future.

As part of the ongoing agreement, NBK is collaborating with LOYAC to implement hands-on training programs that equip young people with the knowledge and skills to drive environmental and social change. By fostering greater awareness and responsibility, the initiative aims to create a lasting positive impact, aligning with the growing global focus on climate change, global warming, and their far-reaching effects on the economy and society.

The practical programs will prioritize environmental impact through a range of sustainability-driven initiatives, including planting diverse tree species, promoting regenerative farming practices, enhancing soil health, and advocating for water conservation and sustainable agriculture. Additionally, the programs will incorporate innovative solutions such as plastic recycling for prostheses and waste-to-energy initiatives.

Marking this milestone, Manal Al-Mattar, Head of Group Corporate Communications at National Bank of Kuwait stated: “As a responsible and sustainable financial institution, we remain committed to driving positive change and making a lasting impact. Our ongoing efforts over the years reflect our dedication to social responsibility, advancing sustainability practices, and supporting the country’s agenda to reduce carbon emissions.”

“Our long-standing partnership with LOYAC stands as a successful model of collaboration between the banking sector and civil society institutions. 

Through this alliance, we aim to support initiatives that align with our vision for environmental, social, and corporate sustainability. By launching impactful programs, we seek to empower young people, develop their skills, and deepen their awareness of sustainability and environmental conservation,” she added.

She emphasized that this agreement is not merely a short-term initiative, but a shared vision aimed at creating a tangible and lasting impact. She also highlighted NBK’s unwavering commitment to driving positive changes and enhancing the well-being of the communities it serves, with a steadfast focus on investing in community development and providing meaningful opportunities for youth empowerment and growth.

Emphasizing the significance of this collaboration, Ms. Faraa Al-Saqqaf, Chairperson and Managing Director at LOYAC, stated: “Our strategic partnership with NBK stands as a testament to our shared commitment to sustainability. This agreement is more than just cooperation between two institutions—it reflects a unified vision to build a more sustainable future for Kuwait while reinforcing our responsibility toward society and the environment.”

“Together with NBK, we are committed to tackling environmental and climate challenges, championing social responsibility, and equipping young people with the skills and knowledge to become future leaders in driving a more sustainable society,” Al-Saqqaf affirmed.

NBK has consistently led the way in supporting projects and initiatives that drive sustainability efforts. The bank has made significant strides in ESG efforts, embedding sustainability as a core pillar across its business models, operations, and corporate culture. This commitment reinforces the transition to a sustainable, low-carbon economy, aligning with Kuwait’s strategic agenda and national development plan.

Kuwait: Conclusion of “Tamakan” Program in the Presence of the Executive Management at NBK

The activities of the “Tamakan” training program for Kuwaiti fresh graduates, organized by Creative Confidence for the sixth consecutive year, with the sponsorship and strategic support of the National Bank of Kuwait, concluded.

The closing ceremony of the program, which was held at the bank’s headquarters, was attended by the executive management of the National Bank of Kuwait. A discussion session was held during which the executive management listened to a presentation given by the program’s trainees on their distinguished graduation projects, which contained creative ideas and visions.

The “Tamakan” Program, in its sixth edition and over the course of 10 weeks, aimed to develop the personal skills needed to become compelling candidates, in addition to motivating Kuwaiti youth to explore their potentials and energies. It also unleashes the creativity of young talent through workshops about creativity and innovation, design thinking, business model design, career exploration and innovative de-risking solutions.

NBK hosted the trainees at its different departments. It gave participants an exceptional opportunity to benefit from the expertise of NBK’s executive management, through the open discussions held for participants with the bank’s leaders who have extensive experience spanning long years in the banking industry. This allowed the trainees to benefit from these experiences for a successful and sustainable career.

“Tamakan” is an innovative training experience for Kuwaiti fresh graduates to achieve professional self-development in pursuit of emerging as active and efficient workforce and finding promising job opportunities in the private sector. The program gives the opportunity for Kuwaiti fresh graduates to acquire many skills and put theories and rules into action, in addition to developing personal and professional skills.

NBK’s continuing sponsorship of this first of its kind program, which received “The Social work Pioneer Project Award” in the private commercial sector from the GCC Council of Ministers of Social Affairs and Labor in 2022, reflects its firm belief in the importance of nurturing the Kuwaiti youth by attracting and developing talents and providing all means of support to help them navigate their way confidently into the labor market.

The trainees expressed their happiness to participate in “Tamakan” program, and thanked Creative Confidence for organizing the program and the National Bank of Kuwait for its support, sponsorship, and provision of its extensive expertise in order to develop their skills and qualify them for the labor market in a professional manner, thanks to the bank’s institutional approach characterized by high professionalism.

They confirmed that they witnessed significant development during the program and gained knowledge that constitutes an added value to their future career path, describing the “Tamakan” program as a bridge for them from the academic stage to the professional stage.

It is worth mentioning that NBK is a key sponsor of different social initiatives that align with the goals of Kuwait National Development Plan and of Kuwait Vision 2035, in terms of driving growth and providing job opportunities for the Kuwaiti youth in the private sector, considering them Kuwait’s most valuable resource, and the keystone for national development.

Kuwait: NBK Recognized for Excellence; Wins Two Prestigious Brandon Hall Group HCM Excellence Awards

National Bank of Kuwait (NBK) has been recognized with two prestigious accolades from Brandon Hall Group for its excellence in employee development and recognition. 

The bank secured the Bronze Award in the Best High-Potential Development Program category for its NBK High Fliers Program and earned the Silver Award in the Best Employee Recognition Program category for the Most Valuable Team Player (MVP).

Brandon Hall Group evaluated winners in the Best High-Potential Development Program category based on several key criteria, including the alignment of training with talent management strategy, its responsiveness to business conditions and the needs of high-potential employees, and the effectiveness of mechanisms supporting their transition into new roles.

The evaluation criteria also encompassed the Best Employee Recognition Program, assessing workplace strategies and an organization's approach to workforce rewards and recognition. This included initiatives that enhance performance and drive positive organizational outcomes.

Brandon Hall Group is a leading U.S.-based global research organization that recognizes excellence in education, leadership development, diversity and inclusion, and various other aspects of human resources.

For more than two decades, Brandon Hall HCM Excellence Awards® – Corporate Recognition has remained a pioneering benchmark in the education sector. Companies worldwide—spanning government, private, joint, and nonprofit sectors—compete for these prestigious awards, which are among the most respected and highly regarded in the industry.

The awards reflect NBK’s unwavering commitment to fostering a dynamic and supportive work environment, driven by its firm belief in the value of investing in human capital. Recognizing that its employees are its greatest asset, the bank continuously develops innovative programs to empower future leaders and nurture top talent.

Furthermore, the awards underscore NBK’s leadership and excellence in human capital management, reinforcing its ability to attract top talent seeking a workplace that fosters growth and innovation. This recognition serves as a source of pride for employees, strengthening their sense of belonging and positively impacting their productivity and performance.

The NBK High fliers program is designed to develop the next generation of banking leaders, underscoring the bank’s steadfast commitment to human capital and talent development. This initiative aligns with NBK’s strategic vision of fostering sustainable workforce growth, with a strong emphasis on empowering young leaders who are instrumental in driving the bank’s long-term success.

NBK’s corporate culture and strategy are rooted in recognizing and valuing employee contributions. In line with this commitment, the MVP program was established to honor outstanding performance, celebrating both Most Valuable Team Player (MVP) and the Most Collaborative Team (MCT) across all divisions, including branches, international locations, and NBK Wealth. This initiative reflects the bank’s dedication to supporting its employees, fostering a culture of excellence, and enhancing workplace engagement. 

By investing in its human capital, NBK strengthens employee performance, ultimately elevating the quality of its services and products for customers.

NBK cultivates a dynamic workplace culture, harnessing its full potential to empower employees and nurture their creativity. This unwavering commitment to talent development not only drives exceptional performance but also reinforces the bank’s position as a leading financial institution on both local and regional fronts.

Kuwait: NBK Pioneers Innovation in Finance with its CODED Full Stack Developer Program

National Bank of Kuwait (NBK) recognizes the vital role of enhancing the digital capabilities of local talent. In alignment with this vision, the Bank has introduced the NBK-CODED Full Stack Developer Program. This initiative, in partnership with CODED Academy, seeks to empower young professionals by providing them with advanced technical skills, deepening their expertise in programming and technology, and contributing to the ongoing digital transformation within the banking sector.

The program will take place at NBK's headquarters over 14 weeks, during which participants will undergo rigorous training designed for swift progress and maximum effectiveness. It will provide young professionals with in-depth knowledge of advanced programming languages and techniques, equipping them with the skills to apply these techniques in real-world business contexts and enhance operational delivery. 

The program is structured in two phases to ensure a comprehensive and effective learning experience. The first phase serves as both a selection and foundation stage, assessing participants’ technical abilities and commitment to excel in the program. The second phase delves into advanced integrated programming languages and techniques, providing trainees with the practical knowledge and skills needed to apply their expertise in real-world business scenarios.

Furthermore, the program is an innovative initiative reflecting the Bank's commitment to supporting digital transformation and addressing the market's increasing demand for technical expertise. It aims to create a dynamic learning environment that combines educational courses, workshops, and specialized training sessions led by industry experts in programming and information technology. This comprehensive approach is designed to enhance the skills and capabilities of the workforce, while empowering young national talent and fostering professional development in key technological fields.

As a frontrunner in the digital transformation journey, NBK is dedicated to supporting the country's strategic agenda by developing national talent and equipping them with essential technical skills. This commitment is particularly crucial as the reliance on digital technology continues to grow across various sectors. 

Reflecting on the event, Mr. Mohammed Al-Kharafi, COO – Head of Group Operations and Information Technology at NBK stated: “We understand the critical importance of advancing the digital society by enhancing the skills of national talent and increasing their expertise in science and technology. This initiative plays a pivotal role in fostering a dynamic digital workforce and encouraging engagement with content and events that drive continuous innovation. Moreover, we recognize that investing in the development of young talent will create a distinguished generation equipped to face future challenges, lead Kuwait's digital transformation, and stay ahead of the latest developments in digitization and information technology.”

“We are committed to staying at the forefront of technological advancements and embracing innovation to shape a successful digital future. This commitment drives us to consistently launch training programs and initiatives designed to foster creativity and enhance specialized skills, including programming languages, data analysis, coding, and other critical competencies,” Al-Kharafi added.

He underscored the pivotal role this program will play in boosting digital literacy, equipping participants with the latest technological insights and tools. He further emphasized that the initiative is fully aligned with the bank's forward-thinking vision, specifically tailored to meet the dynamic demands of the digital era. This program not only underscores the bank’s dedication to fostering innovation, but also highlights its ongoing commitment to cultivating and empowering national talent. 

In the meantime, Mr. Emad Al-Ablani. General Manager - Head of Group Human Resources commented: “NBK remains steadfast in its commitment to social responsibility toward Kuwaiti youth, providing comprehensive support to develop their skills and empower them to enter the competitive labor market with confidence. The bank continuously introduces training initiatives, workshops, and educational programs designed to foster creativity and innovation while keeping pace with the rapid technological advancements in the banking industry”.

"We are committed to developing a generation of highly skilled national talent equipped to drive economic growth in Kuwait and introduce innovative solutions within the banking industry. These programs play a vital role in preparing national professionals by equipping them with the knowledge and expertise needed to navigate and adapt to the fast-evolving technological landscape,” he emphasized.

Al-Ablani further highlighted that NBK remains committed to making a lasting social impact through its contributions to various programs and initiatives designed to cultivate highly skilled national talent. He highlighted that Kuwaiti youth possess immense potential and capabilities that, when properly guided, can be effectively harnessed to support the nation’s sustainable development journey.

NBK plays a key and proactive role in shaping the future of Kuwait’s youth, harnessing their energy and potential to contribute to sustainable development. The bank places great emphasis on programs and initiatives that equip young people with the essential knowledge and skills needed to foster the well-being and prosperity of both individuals and society in Kuwait. By providing the right guidance, NBK ensures that the next generation is well-prepared to make meaningful contributions to Kuwait’s growth and development.

Kuwait: Al-Bahar: NBK Maintains a Strong Financial Position to Sustain Growth into 2025

Ms. Shaikha Al-Bahar, Deputy Group CEO at National Bank of Kuwait (NBK) mentioned that despite the spark of geopolitical tensions, its negative consequences on the business environment and the downside cycle of interest rates, the bank managed to sustain profit trends across different business lines in 2024.

In an interview of CNBC International, Al-Bahar added, “Our resilience against challenges testifies the success of our diverse strategic initiatives in creating value to customers, communities and stakeholders alike.”

Government agenda priorities

Al-Bahar went on to say that on the legislative front, developments on long-awaited laws are progressing with expectations of their passing in the near future. “On the debt law front, it remains a top priority on the government’s agenda given the ever-increasing level of public spending, volatile oil revenues, and efforts to elevate sovereign ratings.”

“The government seeks to promote FDIs through increasing investment opportunities in the field of renewable energy, infrastructure, tourism and technology, as well as increasing non-oil revenues to contribute initially to 10% of total revenues; with efforts to increase this contribution to higher levels in line with GCC peers through revisions of taxes and fees frameworks and diversifying income and limiting spending and injecting government investments in the domestic economy.”

“With regards to mortgages, we witnessed some adjustments to the underlying laws for housing as an instance, which shall facilitate in part the passing of the mortgage law. Overall and in the presence of such developments, we are becoming more and more optimistic with regards to the passing of key laws including the mortgage and debt law soon as the government is clearly pushing towards structural reforms,” she added.

Strong year for project awards

On the pickup in development project market, Al-Bahar commented, “Project awards positive momentum in 2024 continued in each quarter. 

“The government also recently announced the inclusion of more than 100 projects in the 2025-2026 budget, covering the state’s needs in various sectors at a cost of KD1.7 billion,” she explained.

Innovation and excellence

Al-Bahar mentioned that NBK constantly strives for excellence and innovation in all products and services provided to customers as the cornerstones of its success.

“We will continue demonstrating agility and resilience in navigating the evolving economic landscape and seizing emerging opportunities with cutting-edge technologies and data-driven strategies,” she said.

“In Kuwait, on the retail front, we will continue with improving our digital offerings towards targeting various client segments and boosting customer satisfaction.”

“With the domestic corporate banking landscape poised to improve on the back of projects activity momentum, we will focus on capturing growth opportunities including enhanced services through a customer-centric approach. Beyond borders, our international banking group will continue to expand in key markets, optimizing costs and leveraging technology to enhance operational efficiency in addition to exploring opportunities in sustainable finance,” she explained

“Likewise, as we continue to stand-out in building a wealth management powerhouse, NBK Wealth aims to broaden reach by presence and advisory and investment offerings to enrich client experience.”

High adaptability

Al-Bahar emphasized that NBK’s adaptable business model will operationally benefit the bank in diversifying revenue streams, focus on core banking activities and mitigate risks when it comes to facing global and regional challenges. 

“Our ability to adjust to changing economic conditions is demonstrated through the execution of our strategic investments and diversification of our strategy, reflecting our high asset quality, ample liquidity and a historically strong balance sheet.”

“With our global presence across 13 markets, we stood resilient in the face of challenges and the modest domestic growth and are well positioned to build on our diverse strategic agenda during 2025,” she affirmed.

Kuwait: NBK Celebrates Graduation of Moody’s Credit Certificate Trainees

National Bank of Kuwait (NBK) proudly celebrated the graduation of its third cohort of trainees from the prestigious "Moody's Credit Certificates-2024" program. Organized in collaboration with the renowned global credit rating agency Moody's, this initiative underscores NBK's commitment to enhancing employee skills and elevating workforce quality.

This initiative aligns with NBK's strategic commitment to developing and enhancing workforce capabilities across the Group by designing and implementing targeted training programs, workshops, and educational initiatives aimed at elevating employee skills and competencies.

The five-month program encompassed comprehensive modules on credit analysis, credit structuring, documentation, relationship management excellence, negotiation strategies, effective planning and implementation techniques, as well as advanced credit masterclass, ESG and business strategy

Approximately 55 trainees participated in the program, divided into three groups at intermediate and advanced levels. Participants represented various departments across the bank, including the Consumer Banking Group, Risk Management Group, Private Banking Group, Corporate Banking Group, International Banking Group, and the  Foreign Corporate, Oil and Trade Finance Group.

On this occasion, Najla Al-Sager, Head of Talent Management, Group Human Resources at National Bank of Kuwait, said: “We are delighted to celebrate the graduation of a new cohort from the Moody's Credit Certificate Program. This initiative underscores the bank's commitment to fostering a culture of excellence and investing in human capital, while preparing qualified banking leaders in line with the highest international standards.”

“Over the years, we have significantly enhanced the program's content to align with evolving industry demands and trends. The program’s duration has been extended from two months to five months, incorporating approximately a month of in-class training and around 23 hours of e-learning courses. Additionally, we have integrated workshops focused on the practical application of skills throughout the program to further enrich the trainees' knowledge and capabilities,” she added.

“We firmly believe that investing in our employees is a key strategic pillar for achieving sustainable growth and maintaining the bank's excellence and leadership. To this end, we are continuously committed to providing the best training and development programs in collaboration with renowned international institutions. Our goal is to build a flexible and dynamic workforce capable of adapting to future challenges and the ever-evolving banking landscape,” she emphasized. 

“We have a comprehensive plan designed to enhance the efficiency of our workforce. We are committed to continuously preparing our employees to navigate the challenges brought about by the evolving dynamics of the banking sector. By equipping them with the necessary tools and knowledge, we ensure their ability to drive ongoing success, maintain the bank's excellence, and uphold our position at the forefront of innovation and competitiveness,” she highlighted. 

Furthermore, Al-Sager stressed that NBK dedicates all its extensive resources to developing its human capital, enhancing the capabilities of its employees, and equipping them with the expertise and skills required to drive the bank's growth. This commitment plays a crucial role in building a highly skilled workforce that supports NBK's long-term objectives and strengthens the sustainability initiatives it champions.

The training partnership with Moody's embodies the bank's strategic plans to establish solid foundations for the professional development of NBK Group’s employees. By collaborating with renowned universities and prestigious international educational institutions, this initiative aims to cultivate future banking leaders, equipping them with the expertise and experience necessary to tackle the evolving challenges of the banking industry.

Kuwait: Al-Sager: NBK Achieved Record Profits, Leveraging a Strategic Expansion

Mr. Isam Al-Sager, Vice Chairman and Group Chief Executive Officer of National Bank of Kuwait (NBK), announced that the Group achieved a record net profit of KD 600.1 million for 2024, marking its highest-ever annual performance. He credited the 7% profit increase compared to the previous year to the Group's exceptional operating performance and the ongoing expansion of its diversified business model.

In an interview with CNBC Arabia, Al-Sager attributed the robust net profit performance to increased business volume and the relatively high average interest rates throughout much of 2024, compared to 2023. He also highlighted the strong performance of fees and FX income across various business sectors and regions where the Group operates.

Al-Sager explained that in 2024, NBK Group saw an 8.3% year-on-year growth in net interest income, while operating income rose by 7.2% to KD 1.3 billion. He attributed this positive performance to the strong growth in the Group's loan portfolio, which expanded by 6.4% compared to 2023. This growth was seen across both domestic and international markets, encompassing both conventional and Islamic banking services.

“We have consistently upheld healthy levels of cost of risk, primarily driven by a 16% decrease in provisions for credit provisions and other impairments in 2024. The Group remains committed to its prudent approach in managing credit exposure,” Al-Sager noted.

International Operations & Wealth Management

Al-Sager highlighted the strong performance of NBK Group's international operations and wealth management, emphasizing the Group's distinctive advantage among Kuwaiti banks. He noted the strategic geographical spread through international banking services, along with the ability to conduct business in both Conventional and Islamic Banking.

He further noted that in 2024, the International Banking Group (IBG) contributed 24% of the Group’s net operating income and 23% of its profits, underscoring the robust performance across these segments. 

Additionally, NBK Wealth contributed 9% to operating income and 11% to profits, reinforcing the effectiveness of the Group’s strategic diversification efforts.

The Future Outlook

Al-Sager conveyed a confident outlook for NBK's performance in 2025, driven by several pivotal factors. He underscored the influence of monetary and fiscal policies, notably the anticipated gradual pace of interest rate cuts, which are poised to support margins. Furthermore, he emphasized the ongoing momentum in projects award in Kuwait and the favorable climate for the enactment of several crucial economic laws, all of which are anticipated to further bolster the local operating environment.

Interest Rate Trajectory and Margin Impact

In response to a question about interest rates and their impact on margins, Al-Sager stated, “With uncertainty surrounding the scale of future rate cuts, intensifying competition, and a challenging global operating landscape, we anticipate some pressure on margins. Consequently, we expect net margins in 2025 to edge slightly lower, by a few basis points, compared to year-end 2024 levels.”

“However, it is important to consider that the expansion in business activity driven by a low-interest-rate environment could help offset margin pressures. With a well-diversified business model and an increased focus on fee-based income, we continuously hedge against interest rate fluctuations, ensuring resilience in varying market conditions,” Al-Sager explained.

Market Consolidation and Its Implications

Assessing the impact of ongoing mergers in the Kuwaiti banking sector, Al-Sager stated: “As one of the largest banks in the region, NBK is well accustomed to operating in highly competitive markets. However, these dynamics do not impose any pressure on us, as we remain steadfast in pursuing our strategic objectives.”

“We are years ahead of the current wave of mergers, having successfully expanded through strategic acquisitions in earlier growth phases. These expansions strengthened our business diversification and service integration. Today, we are capitalizing on the success of our expansion strategy, having mitigated the risks of business consolidation and sharpened our focus on delivering exceptional services across all the markets in which we operate,” he added.

Al-Sager emphasized that banking mergers are often followed by challenges that can provide NBK with opportunities to seize.

He further emphasized NBK Group’s commitment to expanding its presence in regional markets, reaffirming its readiness to pursue acquisition opportunities that strengthen service integration and drive added value for shareholders.

Projects Award

Commenting on the projects market in Kuwait, Al-Sager expressed optimism due to the strong activity in the market, noting that the awarding of development projects by the end of 2024 reached its highest level in nearly eight years. He anticipates this momentum to persist into 2025.

He emphasized the widespread consensus on the importance of prioritizing major development projects and enhancing Kuwait's appeal as an investment hub. This includes the urgent need to approve a set of long-awaited laws that would align with and support ongoing economic reform efforts.

“With decision-making now solely in the hands of the government, we no longer face the disruptive entanglements of the past, and this will positively impact the anticipated economic reforms,” Al-Sager noted.

“We are witnessing meaningful discussions on the adoption of key laws, such as the real estate financing and public debt laws. The enactment of these laws would serve as a crucial catalyst, driving the Kuwaiti economy toward smoother and faster growth,” He stated.

Multinational Corporate Tax

Commenting on Kuwait's recent enactment of the Domestic Minimum Top-Up Taxes (DMTT) on multinational enterprises (MNEs), effective 2025, Al-Sager explained that this corporate tax follows a global standard already in place in many countries where NBK Group operates. He emphasized that its local implementation would benefit Kuwait by ensuring these revenues stay within the country, rather than flowing to other nations.

In response to a question regarding the potential impact of the tax implementation on the bank’s profits, Al-Sager stated: “Naturally, there will be an impact on our profits in 2025, with an anticipated increase in the tax applied to the Group’s profits by approximately 8 to 15%. However, this impact is expected to be temporary, as the base year 2025 marks the introduction of the tax.”

Real Estate Financing Law

Commenting on the Real Estate Financing law, Al-Sager stated: “We view the real estate financing law, or housing finance, as the most effective practical solution to Kuwait's housing crisis. With over 97,000 pending housing applications at the Public Authority for Housing Welfare and approximately 10,000 new applications each year, this issue has only intensified without any tangible resolution.”

He highlighted the recent positive developments supporting the adoption of the law, noting that this comes at a time when the government has clearly stated that refinancing Kuwait Credit Bank is challenging due to the anticipated ongoing budget deficit. He also emphasized that the Kuwaiti banking system is in an excellent position, with high levels of liquidity and capitalization, and is well-equipped to play a crucial role in addressing the housing issue.

Al-Sager expressed strong confidence that the right legislative and regulatory framework will empower banks to take a central role in resolving the housing crisis, using financing mechanisms akin to those in neighboring markets. He highlighted this as a major growth opportunity for Kuwaiti banks, especially given the substantial backlog of housing applications and the steady influx of new applicants each year. Additionally, he pointed out that Kuwait's youth demographic, which makes up the majority of the population, adds urgency to the need for effective solutions.

Kuwait: NBK Successfully Completes Training Program for Students with Special Needs at Dasman Bilingual School

National Bank of Kuwait (NBK) announced the successful completion of a training program in 2024 for students with special needs at Dasman Bilingual School. The initiative aimed to inspire and empower students by offering them hands-on training and the opportunity to gain valuable insights into the banking sector.

The two-week program, held within the local branches department, was meticulously designed to provide participants with an in-depth understanding of bank branch operations, including key banking mechanisms and operational procedures. Beyond this, the program created an inclusive and nurturing environment for students with special needs, offering them valuable real-world insights and the opportunity to develop essential skills. This experience not only broadened their knowledge but also enhanced their preparedness for future success in an ever-evolving labor market. 

The program saw active participation from students in a range of carefully curated activities and tasks, designed to align with their abilities and interests. This hands-on approach allowed them to gain valuable practical experience in managing the Bank's local branches. 

Throughout the program, the NBK team collaborated closely with the students, offering consistent guidance and support to ensure a comprehensive learning experience. This approach aimed to deepen their understanding of the banking industry while fostering their confidence and adaptability within a professional work environment.

The participating students from Dasman Bilingual School visited the bank to receive their certificates of completion for the training course. The ceremony, attended by members of the executive management, celebrated the students’ enthusiasm, determination, and notable progress throughout the program.

Marking this special occasion, Gadeer Al-Kooheji, Head of Talent Acquisition - Group Human Resources at National Bank of Kuwait said: “We take immense pride in hosting students with special needs from Dasman Bilingual School, providing them with opportunities to learn, grow, and gain valuable skills that support their future career aspirations.” 

She emphasized that NBK takes the lead in supporting individuals with special needs by continually enhancing its services and equipping select branches with the necessary tools to ensure accessibility. This includes ATMs fitted with Braille keyboards and earphones, enabling customers with visual impairments to independently access banking services, such as cash withdrawals. 

“We strongly believe in the potential of every individual in our community. This program underscores our commitment to fostering inclusivity and creating equal opportunities for all segments of society, particularly those who hold a special place in our hearts,” she added. 

she highlighted that NBK is the first bank in Kuwait to assign employees across all its branches to offer services in sign language for customers with hearing disabilities. Additionally, the bank provides iPads equipped with speech-to-text features for customers with visual impairments and offers wheelchairs to facilitate branch access. Dedicated parking spaces with clear, designated signage for people with special needs further reinforce NBK's commitment to accessibility and inclusion. 

The bank also implements a dedicated policy for employing individuals with special needs, in collaboration with the Public Authority for Disability Affairs and the Public Authority for Manpower. This initiative reflects NBK's commitment to fostering an inclusive workplace and empowering individuals of all abilities to contribute meaningfully to the workforce.

Kuwait: NBK Launches Real Estate Financing Services in Germany

In a strategic move to strengthen its presence in international markets and elevate its global banking offerings, National Bank of Kuwait (NBK) has unveiled its mortgage services in Germany. This initiative enables NBK customers to access bespoke mortgage solutions and premium services tailored to meet their investment aspirations in key global real estate markets, including the UK, France, Spain, Portugal, Germany and UAE.

This initiative aligns with the Group's ongoing efforts to bolster its presence in real estate financing services on both regional and global fronts. Leveraging its extensive network of international branches, its prominent position in some of the world's most sought-after real estate markets, and the unparalleled trust it commands in Kuwait, the region, and beyond, NBK continues to strengthen its role as a leading financial institution in this dynamic sector.

NBK’s international mortgage services offer unparalleled convenience and efficiency, allowing customers to finalize purchases, investments, and all related transactions locally in Kuwait without the need for travel. These services are facilitated through the International Mortgage Loan Center at NBK’s headquarters—the first of its kind in Kuwait—along with dedicated support at the Ras Al-Salmiya,and Surra branches.

NBK’s international mortgage services offer customers competitive interest rates, flexible repayment terms and high loan amount. In Germany, loans cover up to 65% of the property value and loan tenor up to 20 years. These features are designed to empower customers and investors, enabling them to own properties in key financial and business hubs around the world, while efficiently achieving their financial and investment goals.

NBK’s expansion underscores its dedication to meeting the evolving needs of its customers globally, and its commitment to offering a range of mortgage financing options that cater to their individual preferences. 

Beyond just real estate financing, NBK brings over 40 years of experience in international markets to help investors navigate foreign real estate opportunities. This includes providing expert advice, legal and procedural support through partnerships with local legal experts and offering real estate expenses and property management services in select countries.

Leveraging its extensive branch network spanning 13 countries, including Kuwait, NBK delivers international real estate services backed by a deep understanding of diverse market needs, fostering greater customer confidence. Moreover, NBK remains committed to integrating the latest technologies into its services to streamline the financing process and ensure quick and efficient implementation.

The bank continues to expand its real estate financing services in international markets, paving the way for its customers to discover investment opportunities in various promising real estate markets.

Furthermore, the Group’s network of overseas branches, spanning key financial and business capitals, is committed to offering top-tier products and services that empower customers to manage their personal and business needs with efficiency and ease. This extensive network brings a wide array of banking services, investment opportunities, and financing solutions directly to their fingertips, enabling seamless access to the most significant regional and global markets from Kuwait.

Kuwait: NBK Hosts Panel Discussion for School Principals Participating in the Bankee Program

National Bank of Kuwait (NBK) hosted a panel discussion with some principals of public schools participating in the Bankee Program. The session provided a platform for knowledge exchange, allowing the participants to share their insights and suggestions for the program's development. The discussion also focused on assessing how school administrations have benefited from the program and its overall impact on students.

Bankee, a pioneering program in Kuwait, is offered by NBK in collaboration with the Ministry of Education and Kuwait Anti-Corruption Authority "Nazaha". The program aims to introduce students to fundamental economic concepts and practices, including earning, spending, saving, and managing financial obligations.

The program also strives to instill core values in students, including honesty, integrity, personal development, responsibility, cooperation, and teamwork. It aims to raise a generation of Kuwaiti youth who recognize the significance of financial stability and independence, equipping them with the financial knowledge and skills essential for contributing to the sustainable development and economic well-being of both individuals and society.

During the meeting, participating school principals exchanged experiences and ideas on how to further develop the program and maximize its benefits for both schools and students. The importance of maintaining ongoing communication between the bank and schools was also emphasized, with a focus on continuously sharing perspectives and innovative ideas throughout the year.

The school principals expressed their gratitude for NBK's commitment to supporting education and promoting positive values among younger generations. They highlighted the significant impact of the Bankee Program in enhancing students' skills, behaviors, and financial literacy.

On this occasion, Manal Al Mattar, Deputy General Manager & Head of Group Corporate Communications at NBK stated, “This meeting reflects NBK's commitment to fostering productive collaboration with all state institutions to drive societal development and enhance human resources, which are the cornerstone of growth and prosperity. We are particularly focused on education, and the bank is dedicated to providing comprehensive support to its advancement.”

“The program has achieved remarkable success over the past year, leading many schools to apply for participation. This success can be attributed to its unique program design and its positive impact on students' behaviors, equipping them with essential skills for managing their financial affairs. Furthermore, there has been a notable improvement in their financial literacy following the program's implementation in their schools,” she added.

“As part of our commitment to enhancing the Bankee Program's content, we have launched dedicated accounts on various social media platforms, including Instagram, TikTok, and YouTube. These platforms allow all participants to access valuable content, activities, and events from schools throughout the year. Additionally, the program's website has been launched in both Arabic and English to further expand its reach and impact,” she emphasised. 

She emphasized that the visits by the bank's executive management to schools and their follow-up on the program's implementation played a crucial role in enhancing its significance. These visits were marked by the strong presence of parents, who expressed immense satisfaction with the positive changes they observed in their children's behavior and financial awareness.

Meanwhile, Eng. Abrar Al-Hamad, Assistant Secretary General at Nazaha, emphasized that the outstanding success of the Bankee Program reflects the effectiveness of initiatives aimed at embedding principles of integrity and transparency within educational frameworks. She underscored that cultivating awareness of ethical values and fostering societal protection aligns with Nazaha's core mission, particularly in safeguarding public funds.

Sumayah Al-Jasem, General Manager and Founder of Creative Confidence, highlighted the Bankee Program's evolution into a success story that resonates beyond Kuwait's borders. She attributed this achievement to the program’s innovative approach, which integrates realistic economic simulations with practical methodologies in an interactive learning environment. As a pioneering initiative, Bankee is dedicated to advancing financial inclusion, particularly among school students, while fostering enhanced financial literacy across the broader community.

Positive Impact

Abeer Al-Gharibi, the principal of Amoria Primary School, expressed her immense satisfaction with the meeting, which brought together a distinguished group of school principals. She noted that the gathering provided an excellent opportunity for exchanging experiences and ideas about the Bankee Program. According to Al-Gharibi, the program has exceeded expectations, leaving a clear and positive impact on students' behavior while instilling valuable values in the younger generation.

In the meantime, Zainab Bahro, the principal of Sharifa Al Qatami Primary School, praised the Bankee program, describing it as a wonderful initiative that quickly garnered widespread admiration. She highlighted the clear and positive impact it had on the behavior of both teachers and students. Additionally, Bahro noted that the program received extensive praise from parents, who observed significant improvements in their children's behavior.

Promoting Financial Literacy

Ghadeer Al-Muhanna, Principal of Al-Fadl Bin Al-Abbas Elementary School, expressed the value of the meeting, stating, “This gathering proved highly beneficial, as it provided an opportunity to meet with key figures behind the project and its participants. We were able to present our suggestions on how to further develop the program and maximize its potential to enhance financial literacy among students.”

Meanwhile, Laila Al-Sayegh, Director of Shaikhan Al-Farsi School, highlighted the significance of the meeting, stating, “The enthusiasm demonstrated by the participants and those responsible for the program reflects its importance, remarkable success, and its clear impact in enhancing financial literacy among students and improving their behavior. Our goal is to prepare an economically educated generation, aligning with the Ministry of Education's vision for a prosperous future for Kuwait and its people.”

Engaging participation

Khazna Mutlaq Al-Otaibi, Principal of Aisha Al-Sharif Primary School, emphasized that the success of the Bankee Program motivated their decision to join its second season. She praised the program's profound impact on both teachers and students, especially in fostering a deeper understanding of financial literacy.

In the meantime, Hanai Al-Muqahwi, Principal of Abdullah Khalaf Al-Dahayan Elementary School for Boys, discussed the positive impact of the Bankee Program on students, stating, “The program has enabled us to achieve several objectives, including shaping students' behaviors. The interactive program system, which allows students to engage with a digital platform for conducting financial transactions, combined with a rewards and penalties system, has been effective in promoting a sense of responsibility for their actions.”

At the conclusion of the meeting, the school principals expressed their optimism regarding the future of the Bankee Program. They emphasized the importance of continuing such meetings to strengthen cooperation and align efforts toward achieving the program's educational goals. They also extended their gratitude to NBK for its ongoing efforts and the pivotal role it plays in supporting Kuwait's education system, contributing to the nation's prosperity.

NBK is committed to the significance of initiatives led by the private sector in collaboration with government entities, aimed at equipping young people with the knowledge and skills essential for the well-being and prosperity of both individuals and society in Kuwait.

NBK was awarded the Bronze Award by Qorus in the Environmental, Social, and Corporate Governance (ESG) category for Bankee Program. This recognition highlights the bank's efforts in integrating sustainability and ESG standards into its initiatives.

Kuwait: NBK Welcomes the Second Cohort of NBK Tech Academy

In line with its unwavering commitment to investing in human capital and fostering national talents, National Bank of Kuwait (NBK) proudly welcomed the second cohort of participants to NBK Tech Academy.

The NBK Tech Academy stands as the first of its kind in Kuwait, dedicated to advancing digital technologies and data systems. It features a professional training program designed to equip young national talents with the skills and qualifications needed to excel in the banking sector. 

The Academy's comprehensive 6-month training program offers trainees an intensive curriculum covering a wide range of technical and professional skills essential for advancement in the banking sector. The participants receive intensive training covering a diverse range of critical skills, including FinTech, Data Analytics, Ethics in Technology, Cyber Security, Fundamentals of Digital Payments, Digital Innovation, Artificial Intelligence, Scripting and Programming, Fundamentals of Codifications, and Finance for Non-Finance Professionals.  

Alongside technical expertise, the program also focuses on developing soft skills including, but not limited to: Teamwork and Team Building, Business Planning and Business Analysis, Writing Skills, Delivering Results, Meeting Customer Expectation and Customer Centricity, Presentation Skills, Productivity in the Workplace, Business Ethics, Principles and Values, Learning and Researching, Project and Change Management, and Customer Experience.

Candidates for the Academy were selected based on rigorous criteria, requiring them to be Kuwaiti university graduates with outstanding cumulative GPAs. Eligible applicants must hold degrees in MIS, Information Security, Data Science, Computer Science, or Engineering, with up to four years of professional experience in these fields.

The new trainees will gain hands-on experience across various departments within the Bank, offering them valuable insights into the dynamic nature of the banking sector. Their training will encompass key areas such as the Digital Office, Robotic Process Automation, Information Technology, Weyay Bank, Digital Transformation, and the Data Office. 

On this occasion, Najla Al-Sager, Head of Talent Management, Group Human Resources at National Bank of Kuwait, said: “We recognize the importance of fostering a digital society within the bank, as it plays a crucial role in enhancing our digital capabilities and facilitating interaction with content and events to drive continuous innovation. NBK Tech Academy truly embodies the bank's vision to keep pace with the evolving demands of the digital age and reflects our commitment to nurturing and developing top-tier digital talent.”

“We are not only preparing our workforce to tackle the challenges of the digital age, but also positioning the bank as a leader in technological innovation within the banking industry. The NBK Tech Academy aligns with NBK's strategy to attract national talent, supporting the bank's rapid digital growth, particularly in response to the increasing demand for digital expertise,” she added.  

She also emphasized that the Academy represents NBK's unwavering commitment to fostering innovation and nurturing national talent. It provides both fresh graduates and experienced professionals in technical fields with advanced training and development opportunities. This initiative will play a key role in shaping the future of banking and digital services, driving Kuwait to new heights in banking innovation.

NBK continues to reinforce its dominant position as a leader among private sector institutions, consistently attracting, developing, and honing the skills of national talent for key banking roles. The bank not only boasts the highest employee retention rates but also stands as the most coveted destination for Kuwaiti talent, offering unmatched opportunities for growth and development. In addition, NBK proudly holds the distinction of being the largest employer of national workers within Kuwait's private sector, further underscoring its commitment to fostering local talent and driving economic progress.

Kuwait: NBK and Alshaya Group Launch Exclusive Collaboration with Mastercard

In a groundbreaking collaboration with Alshaya Group, a global leader in retail brand management and operations, National Bank of Kuwait (NBK) proudly unveiled the NBK Aura World Mastercard Credit Card and the NBK Aura Platinum Mastercard Prepaid Card.

The announcement was made during a special event at NBK's headquarters, attended by Salah Al-Fulaij, CEO of NBK Kuwait, Mohammed Al-Othman, Chief Executive Officer of Consumer and Digital Banking at NBK, John Hadden, CEO of Alshaya Group, and Jihad Khalil, Mastercard's General Manager for MENA East Custer. The event also saw the presence of senior executives from NBK, Alshaya, and Mastercard.

The launch of these cards follows NBK’s recent exclusive partnership agreement with Alshaya Group, reaffirming the bank's commitment to delivering exceptional benefits to its customers. This initiative underscores NBK’s leadership and dedication to introducing innovative and distinctive offerings.

The two new cards enable NBK customers to earn up to 8% in Aura points on their purchases, offering a seamless experience for redeeming rewards through the customer’s Aura application account. These points can be redeemed at over 50 iconic brands across fashion, beauty, dining, and more, such as H&M, Bath&Body Works, Footlocker, Shake Shack, Raisin Cane’s, Charlotte Tilbury, and Harvey Nichols. The application provides customers with the flexibility to manage and redeem their points, enabling them to shop and pay directly at participating stores using their earned rewards. This exclusive program includes a wide array of globally recognized brands managed and operated by Alshaya Group, ensuring unparalleled value and choice.

Both cards also grant holders exclusive Mastercard benefits, including complimentary access to numerous airport lounges worldwide, free travel insurance, travel discounts, and a host of additional perks.

Reflecting on this collaboration, Mr. Mohammed Al-Othman, CEO, Consumer and Digital Banking Group at NBK remarked, “We are thrilled to see the result of 18 months of dedicated collaboration with our partners at Alshaya Group. Our goal was to create a groundbreaking product that delivers maximum value to both NBK and Alshaya Group's customers, in partnership with Mastercard.”

Al-Othman also emphasized that the launch of these cards marks the first collaboration between NBK and Alshaya Group following their recent exclusive partnership agreement. He further highlighted that NBK consistently seeks to forge strategic partnerships with leading companies across various sectors, aiming to provide its customers with exceptional offers and benefits that not only meet their needs but also exceed their expectations, enhancing their overall banking experience with NBK.

Meanwhile, Mr. John Hadden, CEO at Alshaya Group said, “We are excited to announce this new partnership today with NBK, has a trusted and strong partner of Alshaya throughout our 40-year journey of growth.

This announcement marks the next evolution in this longstanding relationship with NBK, as well as the beginning of a new collaboration with Mastercard, with a shared focus on enhancing customer experience and financial services. We are particularly proud that Kuwait is the first country to launch this innovative collaboration, built upon Alshaya’s Aura loyalty program, which already has 8.5 million members, with 1.6 million of those members based in Kuwait alone."

NBK is committed to offering rewarding deals and exclusive value-added benefits to customers across all segments, reinforcing its leading position in both the local and regional banking sectors. Meanwhile, Alshaya Group manages a vast portfolio of renowned brands across the Middle East, North Africa, Turkey, and Europe, providing customers with access to some of the world's most famous brands through a network of thousands of stores, restaurants, cafes, entertainment venues, and more than 125 e-commerce and digital platforms.

Kuwait: NBK Reports Net Profit of KD 600.1 Million for FY2024

National Bank of Kuwait (NBK) has announced its financial results for the financial year ended 31 December 2024.The Bank reported a net profit of KD 600.1 million (USD 1.9 billion), compared to KD 560.6 million (USD 1.8 billion) for the financial year 2023, an increase of 7.0% year-on-year.

Earnings per share (EPS) stood at 69 fils by the end of 2024, compared to 65 fils by the end of 2023, Meanwhile, total assets as of December 2024 grew by 7.1% year-on-year, reaching KD 40.3 billion (USD 130.9 billion).

Customer deposits grew by 4.2%, totaling KD 22.9 billion (USD 74.2 billion) as of December 2024. Meanwhile, Group loans and advances reached KD 23.7 billion (USD 76.9 billion) by December 2024, reflecting a growth of 6.4% year-on-year.

In the meantime, shareholders' equity also saw an increase, standing at KD 3.9 billion (USD 12.7 billion), up by 5.9% year-on-year.

In terms of distributions, the Board of Directors has proposed a cash dividend of 25 fils per share for the second half of 2024, bringing the total cash dividend for the year to 35 fils, equivalent to around 50% of net profits. Furthermore, the Board has recommended the distribution of bonus shares at a ratio of 5%. These proposed distributions are subject to the approval at the Annual General Assembly (AGM).

Adapting To Changing Conditions

Commenting on the bank's annual financial results, Hamad Al-Bahar, NBK Group Chairman stated, “In 2024, we delivered strong performance, showcasing the resilience and adaptability of our flexible, diversified business model in response to varying economic conditions. This success was bolstered by a robust capital base, high asset quality, strong liquidity, and prudent risk management.”

He explained that the bank remains committed to balancing the achievement of optimal returns for its shareholders while addressing the evolving needs of its customers. He further emphasized that sustainability has become a key driver in strengthening the bank's long-term growth prospects, as it continues to implement significant initiatives that support responsible business practices and contribute to the sustainable development of Kuwait’s economy.

"In 2025, NBK aims to accelerate its sustainable financing efforts, targeting a sustainable asset portfolio of approximately USD 10 billion by 2030," stated Al-Bahar. He further highlighted that the bank continues to implement various initiatives as part of its efforts to achieve carbon neutrality.

 Al-Bahar stated that throughout 2024, NBK strengthened its social contributions by launching and supporting numerous programs and initiatives across various sectors, including health, social development, the environment, youth, education, and women's empowerment. These efforts are aimed at reinforcing the foundations of sustainable development in alignment with Kuwait Vision 2035 and the National Development Plan (NDP), further advancing NBK's leading position as the largest contributor to social responsibility in Kuwait.

Sustainable Growth

Meanwhile, Mr. Isam J. Al-Sager, NBK Vice Chairman and Group CEO, said: “Despite heightened geopolitical tensions regionally and globally in 2024, along with their adverse economic repercussions and the onset of declining interest rates, NBK successfully maintained its trajectory of sustainable growth. The Group's net operating income grew by 7.2% year-on-year, reaching KD 1.3 billion (USD 4.1 billion)”. 

Al-Sager emphasized that NBK's financial results for 2024 reflect exceptional operational performance across its various business sectors, particularly its core banking operations. He highlighted the significant contributions of the Group's international operations and Boubyan Bank, the Group's Islamic banking arm, to both revenues and net profits during the year.

Al-Sager highlighted NBK's ongoing efforts to expand its customer base by offering innovative digital products and services of international standards, coupled with exceptional customer service. He emphasized the bank's continued investments in technology and innovation, reinforcing its leadership in digital banking solutions that drive sustainable growth. These efforts not only maximize value for customers and shareholders but also contribute positively to our communities and to all stakeholders. This commitment has earned the bank numerous prestigious accolades, including being named the “Best in Innovation- Global Winner” for 2024, for the second consecutive year by Global Finance magazine.

Al-Sager emphasized that NBK Group is dedicated to further advancing its reputation as a trusted financial partner by fostering deeper relationships with existing customers and capitalizing on emerging opportunities. He highlighted the Group’s commitment to reinforcing its leadership in investment and wealth management services across the region, noting the launch of the "NBK Wealth" brand in 2024, which has established the largest wealth management entity in Kuwait and positioned it among the leading providers in the region.

Al-Sager highlighted NBK’s significant advancements in sustainability during 2024, emphasizing the bank's commitment to its ESG strategy, which underscores its leading role in shaping a more sustainable and prosperous future for all. He noted that NBK was the first bank in Kuwait to join the Partnership for Carbon Accounting Financials (PCAF) and achieved a major milestone by issuing Kuwait’s first green bonds, valued at USD 500 million, solidifying its position as a trailblazer among financial institutions in the country. 

In the meantime, Al-Sager emphasized NBK’s unwavering commitment to investing in human capital, highlighting that in 2024, the bank continued to attract and nurture young talent through top-tier training and development programs aligned with international standards. These initiatives aim to cultivate a highly skilled generation of banking professionals, with a particular focus on digital competencies that have become indispensable in the evolving landscape of banking transactions driven by advanced technology and artificial intelligence.

Operational Environment

Regarding his outlook for the operational environment in 2025, Al-Sager expressed optimism about the continued momentum in project awards, building on the progress achieved in 2024 amid political stability. 

He noted that with decision-making now centralized within the government, processes have become more streamlined and efficient. Al-Sager also expressed hope that this positive trajectory would be complemented by the enactment of key laws and legislations aimed to bolster domestic economic growth.

Al-Sager emphasized that NBK aims to play a pivotal role in financing upcoming mega projects, further solidifying its position as the government’s primary partner in funding major strategic initiatives. He highlighted that the anticipated improvement in project awards, coupled with the downward trajectory of interest rates, is expected to positively impact credit demand across both corporate and retail sectors. 

However, he acknowledged the persistence of certain challenges that could have adverse economic repercussions, particularly the ongoing geopolitical tensions at both regional and global levels.

Key financial indicators for FY2024

• Net operating income stood at KD 1.3 billion (USD 4.1 billion), up 7.2% year-on-year

• Total assets grew by 7.1% year-on-year, at KD 40.3 billion (USD 130.9 billion)

• Total loans and advances increased by 6.4% year-on-year to KD 23.7 billion (USD 76.9 billion)

• Customer deposits grew by 4.2% year-on-year to KD 22.9 billion (USD 74.2 billion)

• Shareholders’ equity amounted to KD 3.9 billion (USD 12.7 billion), registering an annual growth of 5.9%.

• Strong asset quality metrics, with NPL/gross loans ratio at 1.34% and an NPL coverage ratio of 263%

• Robust Capital Adequacy Ratio of 17.3%, comfortably exceeding regulatory requirements.   

Kuwait: NBK Wraps Up Participation in KFAS Innovation Challenge

The National Bank of Kuwait (NBK) team successfully concluded its participation in the Innovation Challenge Program, organized by Kuwait Foundation for the Advancement of Sciences (KFAS) in collaboration with IE Business School, Madrid. Spanning three months, the program commenced with an introduction to the fundamentals of creativity and innovation, followed by an in-depth focus on a real-world innovation project. The initiative also included a field visit to the IE Business School campus in Madrid, Spain, enriching the participants' experience.

As part of the program, the NBK team presented their project, which focused on an innovative banking service. The project was reviewed and discussed with the bank’s senior management, including Mr. Salah Al-Fulaij, CEO of NBK – Kuwait, Mr. Mohammed Al-Othman, CEO of Consumer and Digital Banking Group; Mr. Mohammad Al Kharafi COO - Head of Group Operations and Information Technology; Mr. Emad Al-Ablani General Manager, Head of Group Human Resources Mr. Faisal Al-Fulaij Head of Business Banking; and other esteemed executives from the bank.

The program covered various key aspects, including the successful implementation of innovative initiatives, the innovative planning process, impact measurement, and the design of valuable propositions. 

Additionally, several workshops on innovation leadership were conducted. The program featured intense competition among participating teams, as participants spent three months engaged in training, education, and exploring strategies to drive meaningful change within their organizations by presenting innovative ideas.

Launched by Kuwait Foundation for the Advancement of Sciences (KFAS) in 2015, the program aims to cultivate innovative human capabilities within the private sector. It seeks to foster a culture of creativity and knowledge-driven growth, aligning with efforts to transition Kuwait's economy into a knowledge-based model.

The Kuwait Foundation for the Advancement of Sciences (KFAS) Innovation Challenge Program stands out as one of the most prestigious executive education initiatives. Through collaboration with IE Business School in Madrid, a select group of companies engages in developing new initiatives and projects aimed at fostering a culture of innovation within their organizations.

On this occasion, Maryam Al-Nasrallah, Talent Management Manager, Group Human Resources at National Bank of Kuwait, said: “We strongly believe in the importance of fostering a culture of innovation and creativity. As such, we remain committed to launching and supporting pioneering initiatives across various fields and sectors while collaborating with state institutions and strategic partners to create a positive social impact and cultivate an inspiring environment for the next generation.”

Al-Nasrallah further added: “Our involvement in this pioneering program underscores our unwavering commitment to fostering innovation and knowledge. We are dedicated to encouraging young researchers to deliver innovative solutions that benefit both society and the economy. The bank’s strategy is firmly rooted in innovation and continuous development, a commitment that has been demonstrated through our leadership in the banking sector, positioning us at the forefront both locally and regionally.”

Al-Nasrallah emphasized that NBK will persist in its efforts to develop society and foster an environment that encourages creativity and innovation. This will be achieved through ongoing participation in various programs and initiatives designed to cultivate highly skilled national talent. He highlighted that Kuwaiti youth possess untapped potential and capabilities, and with the right guidance, they can contribute significantly to the sustainable development journey.

Furthermore, She praised KFAS for its pivotal role in enhancing and promoting investment in technology and innovation. He emphasized the Foundation's commitment to learning from global experiences and utilizing leading professional and academic expertise from around the world.

NBK places significant emphasis on the development of its human resources, recognizing them as the cornerstone of the bank's excellence and leadership. The bank offers top-tier specialized training programs that adhere to the highest international standards, ensuring that its professional talent is equipped to take on future leadership roles.

Kuwait: Al-Bahar: Empowering Kuwaiti Youth as the Future of the Country’s Growth and Development

During a highly engaging panel discussion, the sixth edition of the Tamakan Program welcomed Ms. Shaikha Al-Bahar, Deputy Group CEO of National Bank of Kuwait. Drawing on her extensive experience in the banking sector, Al-Bahar shared valuable insights and offered Kuwaiti youth practical advice to help them establish successful careers.

First Steps in Banking

Kicking off her speech, Al-Bahar reflected on the early stages of her career in the banking sector. She remarked, “I began my professional journey as an intern at NBK before transitioning to corporate banking, which proved to be an incredible learning experience. Throughout my career, I had the privilege of participating in numerous training programs, both locally and internationally, at esteemed institutions such as Harvard, Stanford, and the Wharton School of Business.”

“I have always had an insatiable appetite for learning, knowledge, and gaining new experiences. I actively participated in numerous workshops and dedicated countless hours to reading, which helped me overcome challenges and address problems in collaboration with my team,” Al-Bahar added.

When asked about her decision to pursue a career in banking, Al-Bahar explained, “I chose to work in this vital sector because it ignited my passion and provided the ideal platform to achieve my goals.”

She emphasized that one of the key strengths of the banking sector lies in its widespread influence across various fields, impacting everyone from individual customers to large corporations and even entire nations. She highlighted the sector's vital role in the national economy, noting that it supports the government’s economic agenda by financing mega projects across multiple sectors. Additionally, she pointed out the significant contribution of banking in the residential sector, helping citizens realize their aspirations of owning their dream home. 

Key Challenges

Reflecting on the major challenges she faced throughout her banking career, Al-Bahar shared, “I encountered numerous challenges, particularly when I began working with international banks and large corporations on significant deals. While it was an incredibly exciting experience, it also placed immense pressure on me to meet deadlines and fulfill obligations on time.”

She emphasized that her success in overcoming these challenges was largely attributed to the support of a highly skilled and diverse team, characterized by exceptional efficiency, commitment, and responsibility. 

The Private Sector 

Al-Bahar pointed out that, in contrast to the public sector, the private sector offers employees the opportunity for faster personal growth. It allows individuals to enhance their skills, gain valuable experience, and learn not only from their colleagues but also from customers. She further emphasized that working in the banking sector provides continuous learning opportunities, exposure to diverse challenges, and access to new markets and customers. Specifically, at NBK, employees benefit from the bank's strong presence not only in the local market but also in regional and global markets.

Furthermore, Al-Bahar offered a set of valuable insights to the participants of the "Tamakan" Program, stating, “I look forward to seeing many of you join the banking sector. However, to achieve this, you must work diligently, be active team members, avoid focusing solely on individual work, and take on responsibility to add value to the sector, which plays a crucial role in Kuwait’s economic development.”

“Teamwork benefits both the employee and the organization they work for. Therefore, always strive to earn the trust of your colleagues, make them believe in your abilities, and instill confidence in your ability to accomplish tasks. Embrace challenges and never yield to obstacles, as they are part of any job. Focus on finding solutions to the problems you encounter by reading and consulting with your managers and experienced colleagues,” Al-Bahar advised. 

Al-Bahar also advised young people entering the workforce to remain committed and ensure that the tasks entrusted to them are completed on time. She emphasized the importance of initiating innovative ideas and demonstrating loyalty to their workplace, as this would enhance managers' trust in the employee. Such dedication, she explained, paves the way for career advancement, offering opportunities for excellence, promotions, and ultimately reaching the top of the career ladder.

Al-Bahar emphasized, “Employees must be deeply passionate about their work, showcasing the ability to complete tasks with quality, timeliness, and innovation.” She encouraged young professionals to embrace any task assigned by their superiors, regardless of its complexity, and to challenge themselves to successfully complete it.

Personal Skills

She noted that finding solutions to the challenges and obstacles encountered in one’s career is one of the most significant hurdles employees encounter. However, being part of a team provides an opportunity to exchange experiences and ideas, enabling the development of solutions to these problems and ultimately achieving success.

Al-Bahar highlighted that employees require two key types of skills: technical skills, which can be acquired through learning, continuous training, and reading, and personal skills, which present a greater challenge. She particularly emphasized the importance of personal skills, especially those that embody leadership qualities.

“Leadership is not something that comes naturally to everyone, but as young professionals at the start of your careers, you must focus on acquiring personal skills that will enable you to play a more influential role in the organizations you will work for in the future. This includes interacting with your team effectively and positively, and always being ready to offer assistance to those in need,” Al-Bahar explained.  

Talent Acquisition

Regarding the qualities NBK seeks when hiring young talent, Al-Bahar stated, “Youth are not only the future and the cornerstone of development in any organisation but in any country. Therefore, NBK is committed to attracting talented Kuwaiti youth, investing in them by providing training and development opportunities, and supporting their career advancement to achieve success. This benefits not only the employee and the organization but also Kuwait as a whole.”

“We are always keen to hire young individuals who are eager to develop their skills and advance to higher positions within the organization. We value those who are committed to growth and aspire to contribute meaningfully, rather than those who are simply looking for a paycheck at the end of the month,” Al-Bahar confirmed.

Al-Bahar emphasized that many Kuwaiti youth are both intelligent and innovative, particularly in the field of technology, aligning perfectly with banks’ needs. She highlighted that NBK remains committed to investing heavily in technology and innovation, as they play a pivotal role in shaping the future of the banking sector.

She stated that the adoption of modern technologies helps reduce operating costs and enhances the quality of services offered to customers, thereby increasing customer satisfaction and ensuring the bank keeps pace with their evolving needs. 

NBK Tech Academy 

Al-Bahar highlighted the Bank's launch of NBK Tech Academy, the first academy in Kuwait dedicated to digital technology and data systems. She remarked, “I was truly impressed to see the creative Kuwaiti youth enrolled in the Academy, particularly those in the field of technology, who possess the potential to play a significant role in shaping the future of the banking sector.”

“Many jobs will disappear due to the technological advancements occurring globally, along with the changes they are driving across all sectors and industries, including banking. However, we rely on these young individuals for their creative thinking, their ability to adapt technology to effectively manage and analyze big data, and to then launch new products and services while improving existing ones to meet the evolving demands of customers,” Al-Bahar explained.

“Data and the ability to manage it has become a discipline in its own right, and no bank can compete in the field of digital banking without possessing a vast database and a team with the necessary skills to analyze that data and conduct market research to stay in tune with changes,” Al-Bahar noted. She also highlighted that NBK has a young and skilled team in the field of data, whose efficiency has allowed the bank to adapt to market changes and maintain its leadership in the banking sector.

Al-Bahar observed that the world may experience a new technological wave within the next 10-15 years. She emphasized the critical need for banks to continuously monitor the market and staying prepared to adapt and respond to any changes or developments in this area.

It is worth noting that Tamakan was honored with "The Social Work Pioneer Project Award" by the GCC Council of Ministers of Social Affairs and Labor. This prestigious accolade recognizes Tamakan as a trailblazing training initiative for Kuwaiti fresh graduates, fostering professional self-development and empowering them to emerge as a dynamic and effective workforce in the region.

NBK’s support for the sixth edition of the "Tamakan" program, aimed at training Kuwaiti university graduates and organized by Creative Confidence, reflects the bank’s commitment to the value of practical experience. The program offers intensive hands-on training to newly graduated national talents, empowering them to transition into an effective and dynamic workforce.

Kuwait: NBK Executive Management Tours New Airport T2 Project

The Executive Management of the National Bank of Kuwait (NBK) conducted a site visit to the new Kuwait Airport project, where they were provided with an in-depth briefing on the latest advancements in the implementation of its phases.

The visit was attended by Mr. Isam Al-Sager, Vice Chairman and Group CEO of NBK, Ms. Shaikha Al-Bahar, Deputy Group CEO of NBK, Mr. Salah Al-Fulaij, CEO of NBK-Kuwait, Mr. Sulaiman Al-Marzouq, Deputy CEO, NBK-Kuwait, Mr. Faisal Al-Hamad, CEO - NBK Wealth, and Mr. Pradeep Handa, General Manager - Foreign Corporate, Oil and Trade Finance Group and Mr. Ezzat Hallal, General Manager & Chief Engineer, along with the management of the Turkish Company Limak Group, which is overseeing the project’s implementation.

The visit underscores NBK's commitment to supporting national projects that drive economic growth and development in Kuwait. During the tour of the project facilities, the bank's executive management received a detailed briefing from project officials on the various stages of implementation.

The new T2 terminal stands as an iconic project among global airport developments. It is a key national initiative aimed at modernizing and enhancing the country's infrastructure, improving Kuwait's connectivity with global destinations, and supporting the nation’s economic diversification efforts. This aligns with the vision of a New Kuwait 2035, seeking to transform the country into a regional and global financial and commercial hub that attracts investment.

 NBK is an active partner in achieving achievements and successes in Kuwait by financing the country's mega infrastructure projects, including  the new Kuwait Airport project, which will form the new transit gateway with a capacity of 25 million passengers annually and an area of 708,000 square meters.

The Bank maintains a strong and strategic partnership with both the Kuwaiti government and the private sector, actively contributing to the country’s development agenda. With an established history of supporting large-scale infrastructure projects that stimulate economic growth, it plays a central role in financing these initiatives. Additionally, the Bank offers expert advisory services and champions community engagement to empower projects that shape Kuwait’s future. This reinforces its leadership as the primary development bank and the preferred financial partner for institutions and major companies within the local market.

Kuwait: NBK Announces Al-Jawhara Millionaire 

In a vibrant setting with an outstanding media and public turnout, National Bank of Kuwait (NBK) hosted a special 8-hour event last Friday at Dar Sheikha Farm in Wafra. The occasion marked the announcement of the winners of the grand prize draw for both Al-Jawhara and Al-Jawhara Junior draws.

The event saw the attendance of senior leaders and officials from National Bank of Kuwait and featured a diverse array of entertainment shows, activities, competitions, and raffles. These activities garnered enthusiastic participation and engagement from the attendees.

The draw, held under the supervision of a representative from the Ministry of Commerce and Industry and a Deloitte representative, resulted in Al-Jawhara account customer Bibi Hussain Ali Akbar winning the grand prize of KD 1 million. Simultaneously, Al-Jawhara Junior draw winner Rouh Hussain Ali Al-Enezi secured the grand prize of KD 10,000.

NBK set up several booths at the celebration site to highlight its premier services and products, catering specifically to its private and privilege banking customers.

On this occasion, Mr. Mohammed Al-Othman, CEO, Consumer and Digital Banking Group at NBK,  remarked: “We remain committed to rewarding our customers across all segments with an exceptional range of draws, prizes, and offers throughout the year. Our goal is to consistently deliver a superior banking experience that reinforces NBK’s leadership and competitive edge in the Kuwaiti banking sector.”

“Today, we celebrate the announcement of the millionaire of the Al-Jawhara Grand Prize Draw , alongside the winner of Al-Jawhara Junior Grand Prize Draw, in a vibrant and exceptional setting befitting this occasion. This reinforces NBK’s commitment to remaining closely connected to its customers at all times,” Al-Othman added.

He emphasized that Al-Jawhara account is a fundamental pillar of the bank’s strategy, designed to offer customers the chance to win extraordinary prizes that enhance their banking experience. It also serves as a vital tool for profit, saving, and future planning for all family members, while supporting NBK’s efforts to foster a culture of savings and promote financial inclusion.

Al-Othman highlighted that NBK has increased the total prize value of Al-Jawhara Account to reach KD 5 million annually since the start of 2024. He also mentioned the recent introduction of Al-Jawhara Saver Account, which offers customers guaranteed interest rate of up to 1.5% for the first year, along with the chance to enter monthly draws and the grand prize draw, provided the balance reaches KD 5,000 or more.

He emphasized that all of NBK's services, rewards, and payment solutions are developed based on thorough studies, analytical tools, and customer surveys to better understand their needs and aspirations. These insights are then used to set clear, irreplaceable goals, with the bank relying on a distinguished team of professionals and the latest global analysis tools and programs.

Since the beginning of 2023, NBK increased total prize pool for Al-Jawhara account draws, establishing it as the largest draw program in Kuwait. The draws include a weekly prize of KD 20,000, a monthly prize of KD 125,000, and a grand prize of KD 1 million, awarded three times annually.

Kuwait: Al-Ablani: NBK’s Training and Development Strategy Creates Professional Teams

In its second panel discussion of the season, the TAMAKAN Program, now in its sixth consecutive year, welcomed Mr. Emad Al-Ablani, General Manager, Head of Human Resources Group at National Bank of Kuwait (NBK). During the session, he shared his extensive experience and journey of contributing to Kuwait's largest banking institution with the Kuwaiti youth.

The panel discussion saw an enthusiastic exchange, with Mr. Al-Ablani discussing key skills essential for the labor market. He emphasized the importance of continuous education, self-development, effective communication, and contributing positively to the work environment. Al-Ablani also shared valuable insights on how to enhance personal skills and abilities, offering practical advice for successfully entering the labor market and ensuring long-term career growth.

During the panel discussion, Al-Ablani addressed participants' questions, covering a range of topics from personal interviews to career progression, and how to advance to the top of the organizational ladder.

Added Value

At the start of his conversation with the youth of the "TAMAKAN" Program, Al-Ablani emphasized, “Every individual must identify the added value they can bring to the organization they work for. Setting a clear goal and choosing the right job requires thorough research and careful consideration to make the right decision, whether it’s regarding the sector you wish to join or the institution that will offer you a promising and sustainable career path.”

Al-Ablani further stated, “Your ambitions and passion must align with the strategy of the organization you wish to work with. Building a successful career requires driven young individuals who are consistently motivated and passionate. There are institutions that prioritize a culture of education and development, and this alignment will create added value both for the employee and the organization.”

The private sector offers abundant opportunities

Al-Ablani emphasized that the private sector is brimming with job opportunities for ambitious Kuwaiti youth. He encouraged recent graduates to pursue careers in this sector, noting its flexibility and dynamism. The private sector, he explained, offers ample space for innovation, development, and creativity, while also providing a conducive environment for continuous training and professional growth. This enables employees to build a solid foundation, equipped with the skills and expertise necessary to tackle the challenges of an ever-evolving labor market.

He highlighted that NBK's most defining feature is its deep appreciation for the dedication and efforts of its employees, regardless of gender. He emphasized that the bank's work environment is built on the principles of diversity, inclusion, and equal opportunities. Furthermore, he noted that advancing within a prestigious institution like NBK demands three essential qualities: passion, determination, and patience.

Job Interviews

Addressing the topic of job interviews, Al-Ablani emphasized the importance of starting with a well-organized resume containing accurate and truthful information. He cautioned against including false details or overstating one's abilities, as misrepresentation can undermine credibility and trust during the hiring process.

Al-Ablani advised the youth of the "TAMAKAN" program, stating: “When attending a job interview, preparation is key. Speak openly and transparently about your skills and experience, and don't hesitate to ask questions about the organization, the specifics of the role, and potential future challenges. This approach demonstrates your genuine interest and enthusiasm for the position.”

“We continuously seek young individuals who exhibit passion and a strong willingness to learn and grow. This is assessed through thoughtful questions that evaluate their responses, reactions, and adaptability,” he added, emphasizing that honest and transparent answers are key to earning the trust of the interviewer.

He stated: “Even if you lack extensive experience, avoid embellishing or providing inaccurate information, as this can have negative consequences. Instead, focus on demonstrating enthusiasm, genuine interest, adaptability, and a willingness to learn quickly.”

Al-Ablani encouraged young individuals to showcase their personal skills during interviews and engage actively with the interviewer instead of giving brief answers. He also emphasized the importance of asking questions to make the conversation more dynamic, explaining that the primary purpose of an interview is to uncover personal qualities rather than delve into complex topics, particularly as most job applicants are recent graduates.

Al-Ablani emphasized that NBK views attracting, retaining, and developing top talent as a cornerstone for achieving its long-term ambitions. To this end, the Human Resources Department focuses on building professional and dynamic teams across all levels, supporting employees from their initial entry into the organization to their advancement into senior leadership roles. Additionally, NBK is committed to fostering a work environment that ensures employees’ well-being and professional growth.

Al-Ablani highlighted that NBK is dedicated to cultivating a flexible and dynamic workforce through a strategy grounded in four core pillars: aligning the right competencies with the right roles at the right time, preparing future leaders by fostering individuals who inspire and empower innovation, attracting top talent through robust recruitment, retention, and development initiatives, and establishing a sustainable performance-driven culture that prioritizes diversity, inclusion, clear results management, and employee well-being.

Teamwork

Al-Ablani emphasized the critical role of teamwork for any organization, stating: “Teamwork is a cornerstone of success for major institutions, a defining feature of the work environment at a distinguished organization like NBK. The unique characteristics and capabilities of each individual bring diverse perspectives, enabling better and more comprehensive decision-making. This integration among team members ensures that success becomes a natural outcome of their collaboration.”

He emphasized the importance of patience and dedication in achieving career growth, encouraging individuals to continuously ask questions and learn from the experiences of their team members.

In the meantime, Al-Ablani cautioned against making hasty decisions, such as switching departments or jobs in response to criticism or negative evaluations. He emphasized the importance of addressing such feedback constructively, engaging with managers to identify areas for improvement, and focusing on developing the necessary skills to prevent similar evaluations in the future.

He highlighted that NBK fosters an open-door policy, actively encouraging discussion, idea-sharing, and diverse perspectives. Additionally, the bank provides various communication channels that enable employees to voice their opinions, share suggestions, and gauge their satisfaction with the work environment.

Workforce Development

On the bank's commitment to employee development, Al-Ablani stated: “We strongly believe in the value of investing in human capital. Therefore, we focus on enhancing workforce capabilities by designing and delivering tailored training initiatives, workshops, and educational programs that elevate skills and competencies. Each employee receives targeted training aligned with their career stage, starting from the moment they join the bank.”

“All training programs offered by the bank are meticulously crafted by specialized experts to cater to all job levels,” he added, emphasizing that the "TAMAKAN" Program presents an outstanding opportunity to develop essential skills for entering the labor market in general, not just for working at NBK.

Al-Ablani emphasized that NBK’s comprehensive strategy in training and development, coupled with its work environment that fosters creativity and innovation, contributes to the qualification of distinguished leaders. He highlighted that NBK's training programs are continuous and inclusive, covering all stages of an employee's career journey. From onboarding new hires to preparing leaders, every employee undergoes tailored training programs. As employees progress to higher roles, they receive specialized training designed to equip them with the necessary skills for their new responsibilities, ultimately preparing them for senior leadership positions.

At the conclusion of the panel discussion, Al-Ablani shared valuable advice with the youth, offering a roadmap to building a successful career through dedication and thoughtful application. His key recommendations included:

• Strive to acquire new skills daily.

• Strengthen your abilities by participating in training programs and courses.

• Embrace lessons from negative experiences and draw insights from those around you.

• Engage in discussions with your managers to identify areas for improvement and address feedback constructively.

• Practice patience and avoid altering your career path due to temporary setbacks.

Kuwait: NBK Celebrates Most Valued Team Players and Most Collaborative Teams of 2024

Aligned with its corporate culture and strategy of valuing employee contributions and fostering a positive work environment, National Bank of Kuwait (NBK) honored its Most Valued Team Players (MVP) and Most Collaborative Team (MCT) for 2024. The recognition spanned Kuwait, international branches, and for the first time NBK Wealth, celebrating their outstanding achievements and dedication throughout the year.

The Bank's executive management presented the “MVP” and “MCT” awards for 2024 to the winners, aiming to inspire continued dedication and exceptional performance to uphold the bank's leadership locally and regionally. A total of 79 employees and 32 teams from various departments locally have been awarded for their outstanding contributions, along with NBK Wealth.

NBK’s International Branches have also taken part in this initiative, nominating MVPs and MCTs in their respective locations.

This group-wide recognition program is based on peer-to-peer voting. Winners were considered by their peers in the same group for their teamwork spirit, engagement, communication, effectiveness, transparency, contribution to the team and division, and overall positive impact on the group.

The executive management commended the dedication, commitment, and efforts of the bank's employees, emphasizing the collaborative spirit that consistently drives the bank's success. This collaborative spirit empowers NBK to provide banking services that meet international quality standards.

This recognition underscores the bank's commitment to its human resources, reaffirming its dedication to providing comprehensive support that enhances employee performance and contributes to elevating the quality of services and products NBK delivers to its customers.

On this occasion, Mr. Emad Al-Ablani, General Manager - Head of Human Resources Group, stated: “We are committed to celebrating our outstanding employees every year, recognizing the crucial role they play in NBK's ongoing achievements at local, regional, and international levels. We continuously strive to motivate and appreciate their efforts and contributions, as this forms an integral part of NBK's thriving work environment and culture of sustainable performance.”

“This recognition is a cornerstone of our corporate culture, reflecting the bank's commitment to appreciating the efforts of its talented workforce. It boosts employee morale, encourages the generation of new and innovative ideas, and reinforces their sense of being a vital part of the organization’s success. This, in turn, deepens their loyalty and connection to the bank, while further bolstering NBK’s standing as the leading work environment in Kuwait’s private sector,” he added.

“Our employees are our greatest asset, which is why we continually invest in human capital and work to enhance the capabilities of our workforce at all levels within the group. We achieve this by designing and implementing training initiatives, workshops, and educational programs aimed at boosting their skills and competencies. We proactively analyze our training needs, aligning them with future business transformations, and focus on refining and enhancing our employees' abilities to ensure they are equipped to navigate the evolving landscape of our industry,” Al- Ablani emphasized.

He highlighted that NBK provides a unique work environment that promotes continuous professional development, utilizing all available resources to facilitate employee growth. The bank is committed to fostering creativity, motivating employees to strive for excellence, and creating opportunities for career progression and future leadership roles.

Al-Ablani explained that teamwork is the key driver behind the bank's success, as it facilitates the exchange of ideas and experiences among employees, leading to diverse perspectives that contribute to making more informed and well-rounded decisions. He emphasized that NBK will continue its initiatives aimed at energizing its workforce, firmly believing that the bank's sustained excellence relies on having qualified human resources with high professional competence.

The MVP awards stand out as a unique initiative, where employees have the opportunity to nominate colleagues within their own departments or teams whom they deem the most valuable. These outstanding individuals are subsequently honored and rewarded by NBK's senior management, with their efforts celebrated through special ceremonies held for each of the bank's divisions.

Voting is conducted through a digital poll, allowing each employee to cast their vote for colleagues they consider deserving of the MVP award. Award recipients are presented with a certificate from senior management during a ceremony organized by the bank, with executive management in attendance.

Kuwait: Al-Marzouq: NBK’s Founding Values Have Cemented its Role as a Cornerstone of Kuwait’s Financial Sector

National Bank of Kuwait (NBK) officially launched a series of panel discussions featured in the sixth edition of the "TAMAKAN" program. Organized by Creative Confidence under NBK’s patronage and strategic support, the program facilitates meaningful dialogue between the bank’s executive management and the participating trainees.

The program featured Mr. Sulaiman Al-Marzouq, Deputy CEO at NBK-Kuwait, who shared his extensive experience with Kuwaiti youth, shedding light on the key milestones of his career that led to his senior leadership role at the country’s largest banking institution.

During his session with the "TAMAKAN" program trainees, a platform dedicated to training Kuwaiti university graduates, Mr. Sulaiman Al-Marzouq reflected on the most significant challenges he encountered throughout his journey of dedication and achievement. He also shared invaluable advice to inspire and guide participants in building a successful and impactful career.

From Branch Management to Leadership

Al-Marzouq opened the panel discussion by engaging with the trainees, learning about their academic specializations, and then delving into the key stages of his professional journey. Reflecting on his path, he shared: “I initially pursued engineering during my university studies before transitioning to economics, eventually graduating from a university in the United States. Upon returning to Kuwait, I began my career at NBK, starting in branch management. This role marked a pivotal turning point in my career, as it provided invaluable insights into the banking cycle and honed my ability to engage with customers and address their needs—an essential aspect of branch operations, where customer service remains the cornerstone of success.”

Al-Marzouq continued, stating: “Following my time in branch management, I was offered roles in three different departments. However, I chose to join the treasury department, as it provides essential skills and experience vital for anyone in the banking sector. The treasury serves as a critical link between the bank and both local and international financial markets, demanding swift and informed decision-making. I dedicated 12 years of my career to this dynamic and pivotal department.”

“Working in the treasury department deepened my passion for banking and instilled a boldness in me to take on greater responsibilities. For me, earning a high salary was never the primary goal; my focus was on developing my skills, learning quickly, and shouldering more responsibilities. Ambition requires boldness, and one should never fear making mistakes, as mistakes are crucial to learning and personal development. They are often the first step on the path to success. However, the key is not to repeat the same mistake,” Al-Marzouq added.

Career at the Central Bank

Reflecting on his transition from the private sector to the public sector, Al-Marzouq remarked: “After 12 years in the treasury department at NBK, I embarked on a new chapter at the Central Bank of Kuwait (CBK). The nature of the work differed significantly, as the CBK serves as a regulatory authority responsible for issuing the policies and legislation governing the banking sector. However, this experience proved invaluable, equipping me with a wealth of skills and a deep understanding of regulatory and administrative frameworks."

He emphasized that the CBK stands as a cornerstone institution for the operations of local banks, housing seasoned bankers whose extensive expertise plays a pivotal role in bolstering confidence in the local banking sector and Kuwait’s economy as a whole.

NBK offers the best work environment in the private sector

Al-Marzouq highlighted how his tenure at the CBK enriched his expertise and strengthened his standing in the banking sector. He revealed that he received three job offers from various banks but chose to return to NBK due to its unparalleled and exceptional work environment, which he described as the best among all private sector institutions in Kuwait.

Al-Marzouq emphasized that working at NBK is the ideal choice for anyone driven by passion and ambition to ascend to top leadership positions. He praised the bank's exemplary work environment, which rivals that of leading international institutions and companies, fostering a culture of creativity and innovation. He also highlighted NBK's commitment to continuous professional development, offering its employees—especially recent graduates—world-class training programs in collaboration with prestigious educational institutions, both locally and globally. 

Al-Marzouq highlighted that NBK's enduring distinction lies in its adherence to regulations and values that have been ingrained since its founding in 1952 by a group of prominent Kuwaiti merchants. Over the decades, these principles have cemented NBK's position as the cornerstone of Kuwait's financial landscape and one of the largest and most influential financial institutions in the region.

“Amid the rapid advancements in the banking industry driven by modern technology and artificial intelligence, training programs have become indispensable for enhancing employee capabilities and workforce efficiency. At NBK, fostering a culture of training and development is a cornerstone of its strategy, rooted in the belief that employee excellence directly translates into superior service quality for its clients,” Al-Marzouq stated.

Teamwork

Al-Marzouq underscored the vital role of collaboration and teamwork, stating: “Teamwork forms the foundation of any organization’s success. It fosters mutual growth among team members through the exchange of diverse ideas, experiences, and skills. This dynamic not only enhances performance and boosts productivity but also drives diversity and innovation, which are essential for sustained progress.”

He emphasized that mutual motivation among colleagues and recognizing each other's achievements play a crucial role in uplifting team morale, bolstering confidence, and fostering commitment. “Success is never a solitary journey," he remarked, "but rather the outcome of teamwork and collaboration among all employees.”

Key Drivers of Success and Excellence

Al-Marzouq offered advice to the trainees in the "TAMAKAN" program, emphasizing to the Kuwaiti youth: “Anyone who aspires to advance in their career must put in extra effort and seek more responsibilities, ensuring they are equipped with the necessary knowledge, skills, and expertise to handle them. Managers value proactive employees who bring innovative ideas, a passion for their work, and a strong ambition for growth.”

Al-Marzouq also advised the trainees to select a work environment that fosters creativity and innovation at the outset of their careers. He emphasized that the private sector operates on profitability and requires employees who add significant value to the organization. Therefore, he urged each individual to define their goals and choose a career path that aligns with those objectives.

He stressed the importance of not rushing promotions, as they can lead to burnout if an individual is not prepared or qualified for the new role. He emphasized that the key to success lies in focusing on skill development and being ready to seize the right opportunities at the right time, which benefits both the employee and the organization.

In response to a question from one of the trainees about how to achieve career development, Al-Marzouq advised: “Always seek feedback from your colleagues and manager, and use their insights as opportunities to improve your performance and enhance your skills. Learn from the experiences of others, benefit from the advice of those with expertise, and set clear, specific goals for yourself, working diligently to achieve them.”

Al-Marzouq encouraged young people to be patient and advised them not to leave their workplace due to issues with a single individual in a managerial role or within their work team. He emphasized the importance of having a clear plan and goal, explaining that career decisions should be based on the pursuit of these objectives, rather than being influenced by transient factors.

He emphasized that the labor market is highly competitive across all sectors, requiring ambitious individuals to focus on developing the necessary skills and gaining the expertise needed to build a successful and sustainable career. He also highlighted that the "TAMAKAN" program offers a unique experience, providing fresh graduates with the opportunity to forge a bright future and become a valuable and effective part of the Kuwaiti economy.

It is worth noting that the "TAMAKAN" program is designed to enhance the personal skills essential for entering the workforce, while also inspiring Kuwaiti youth to explore their potential, harness their energies, and unlock their creativity.

The program adopts a blended learning approach, combining in-person and online training through electronic platforms and interactive tools for distance education. It covers a range of themes and workshops, including creativity and innovation, design thinking, business model development, career exploration, and strategies for mitigating risks.

NBK is dedicated to advancing the country's strategic agenda by bolstering the private sector and contributing to the nation's development plans, aligning with the long-term objectives set forth in Kuwait Vision 2035 “New Kuwait”.

Valuable Insights

During his meeting with the trainees of the "TAMAKAN" program, Al-Marzouq shared a set of invaluable insights to guide them toward excellence, progress, and a successful career, including:

- Success is not an individual journey but the outcome of collaboration and teamwork.  

- Mutual motivation boosts morale and enhances team spirit.

- Don’t rush promotions unless you are fully prepared and qualified.

- Listen to the advice of those with experience.

- Seek out additional responsibilities and take the initiative to propose innovative solutions.

- Always focus on the value you bring to the organization.

- Continuously develop your skills and be ready to seize opportunities when they arise.

Kuwait: NBK and SPARK Athletic Center Forge an Exclusive Partnership

National Bank of Kuwait (NBK) has entered into an exclusive partnership with SPARK Athletic Center, Kuwait’s premier fitness and health destination. This collaboration reflects NBK’s unwavering commitment to enhancing the banking experience by providing its customers with exceptional services and tailored offers that align with diverse lifestyle preferences.

The agreement was formalized at the SPARK Athletic Center headquarters in Shuwaikh, with Mr. Hisham Al-Nusif, General Manager of the Consumer Banking Group at National Bank of Kuwait, and Mr. Abdulmohsen Al-Babtain, CEO of Groupxen, signing on behalf of their respective organizations.

Under the terms of the agreement, NBK, in partnership with SPARK, will introduce a groundbreaking service to its customers at the start of 2025. This will include innovative offers and exclusive benefits, carefully crafted to align with their aspirations and needs.

On this occasion, Mr. Hisham Al-Nusif, General Manager of the Consumer Banking Group at NBK, remarked: “We are committed to continually enhancing convenience and excellence for our customers across all segments and age groups. By offering the finest services and exceptional offers, we aim to meet their needs, fulfill their aspirations, and deliver a truly unique banking experience.”

“We are delighted with this partnership with SPARK Athletic Center, a pioneer in the fitness industry, as it offers our customers exclusive benefits that reinforce NBK’s leadership in the banking sector,” added Al-Nusif. He emphasized that the bank is consistently looking to expand its network of partners and leverage its strong relationships with major companies across various sectors to deliver an unparalleled banking experience, offering services and benefits that elevate the lives of its customers.

He explained that customer satisfaction and delivering the best banking experience are integral to NBK's culture. He further noted that, with the extensive experience gained over decades, the bank is well-equipped to understand customer needs, assess their goals, and consistently exceed their expectations.

In the meantime, Mr. Abdulmohsen Al-Babtain, CEO of Groupxen, stated: “We are proud to partner with a leading banking institution and esteemed brand like NBK. This partnership marks a strong and exciting new chapter for SPARK Athletic Center, and we are committed to working together to raise awareness about sports and encourage the entire Kuwaiti community to embrace a healthy lifestyle.”

“There is no doubt that our collaboration with NBK, a pioneer in driving tangible, qualitative advancements across various sectors, will greatly enhance our efforts to deliver SPARK's message to the widest possible audience of both citizens and residents in Kuwait,” Al-Babtain added.

Founded in 2013, SPARK Sports Athletic Center is Kuwait’s premier fitness and wellness destination, providing exceptional experiences through cutting-edge facilities, innovative programs, and a results-driven approach. Catering to individuals of all fitness levels, SPARK offers a comprehensive range of services, including advanced strength training, high-performance group fitness classes, and specialized fitness programs.