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Kuwait: Global Finance Recognizes NBK’s Digital Achievements in 2021
04.11.2021Global Finance magazine presented National Bank of Kuwait (NBK) with a number of its annual awards as “Best Consumer Digital Bank” for 2021, totaling 10 awards on the level of Kuwait and the Middle East.
The awards were received by Mr. Mohammed Al-Othman, General Manager of Consumer Banking, National Bank of Kuwait, and Mr. Mohammad Al-Kharafi, General Manager, Head of Group Operations, National Bank of Kuwait, on behalf of the bank in the ceremony held in Dubai.
Commenting on the received awards, Al-Othman said, “We are pleased to be honored with such a large variety of awards that reflect the huge achievement we have made and strengthens our position as a leading provider of digital banking services at the level of Kuwait and the region.”
“The satisfaction of our customers and the recognition of leading international institutions like Global Finance magazine of the top-notch banking products, services and solutions we offer, give us pride and create greater responsibility and challenges than the ones we already managed to overcome.”
Fully digital
Commenting on NBK’s receiving the award of “Best Digital Bank” in Kuwait and Middle East, Al-Othman said: “We find it an exceptional accomplishment to win this award for 2020 and 2021, being amidst the exceptional circumstances in which all banks acted to accelerate their digital transformation to meet their customers’ needs, whereas we were ready with a proactive digital transformation strategy, great capabilities and a huge digital infrastructure that gave us the edge.”
“As usual, we at NBK were not content with the accomplished excellence, but rather continued to launch leading initiatives to meet the needs of our customers, despite the impacts of the pandemic and shutdown measures, so that our initiatives would integrate with our superior digital services and more significantly widen the gap with our closest competitors,” he continued.
Al-Othman noted that the banking transactions made through NBK Mobile Banking, NBK Internet Banking, and ATMs/CDMs accounted for over 97.5% of the bank’s total transactions over the recent past period.
The most innovative
On winning “Most Innovative Digital Bank” award in Kuwait and the Middle East, Al-Othman said: “The real challenge is to continue to innovate advanced banking products and services, and maintain a leading position in this regard. However, we established key pillars to ensure such continuity, at foremost of which is setting a roadmap to automate our operations and increase reliance on artificial intelligence (AI), establishing NBK Data Center, which is one of the largest in the region, as well as NBK Digital Factory.”
“We introduce all innovative banking services for the first time in the Kuwaiti market, which is a testimony of our success in investing our huge capabilities and digital strategy, and its reflection on banking products, services and payment solutions that are on par with the latest and most advanced international levels,” Al-Othman continued.
NBK Mobile Banking
Commenting on naming NBK “Best Mobile Banking App” in Kuwait, Al-Othman said: “The NBK Mobile Banking App embodies our digital excellence, as it has become our largest branches and accounted for about 90% of transactions, thanks to the continued improvements and new services introduced in it, which are carefully designed according to our customers’ needs.”
“When I look at the size of the huge achievements we have made in developing the NBK Mobile Banking App, I feel proud, and, at the same time, mindful of the challenges posed to us by the advanced services we have provided that embody the future of digital services and the development of banking solutions. This led to raising the ceiling of ambition and expectations about what we will offer in the future, but I am fully confident in our ability as a team with huge potentials and a clear strategy to realize those ambitions.”
“NBK Mobile Banking is witnessing a significantly increasing demand, especially in light of the circumstances posed by the pandemic, as reliance on mobile banking in making transactions increased, boosting mobile banking transactions by 46%,” he added.
Leading payment solutions
Recognizing its excellence in providing innovative advanced payment solutions, NBK was awarded “Best Bill Payment & Presentment” in Kuwait.
Speaking on this award, Al-Othman said: “We have succeeded in changing the landscape of digital payment solutions in Kuwait during the last two years, by providing a range of advanced payment solutions even before the health crisis, including launching Fitbit Pay and Garmin Pay using smartwatches, as well as many other advanced solutions that followed, most notably Samsung Pay.”
NBK had launched the new Bill Splitting service, which allows dividing the bill amount among a group of people using the NBK Mobile Banking App, as part of the bank’s endeavors to provide the latest digital banking services to its customers to meet their needs and expectations across different NBK Digital Channels, basically NBK Mobile Banking.
Closer to you
NBK also received the award of “Best in Social Media Marketing and Services” in Kuwait, on which Al-Othman mentioned: “The top-notch banking experience and the exceptional services provided to NBK Customers begins with our strategy of communicating with them and carefully identifying their needs, and analyzing those data using the most advanced tools in order to provide banking products, services and solutions that help to meet them.”
Al-Othman noted that NBK performed exceptionally in communicating with customers and providing exquisite awareness content during the pandemic, as the number of followers of NBK social media accounts increased by 13% year-on-year during 2020, with 200,000 new followers, bringing the number of followers by the end of the year to 1.7 million followers
All transactions online
On winning the award of “Best in Lending” in Kuwait, Al-Othman commented: “There are no longer transactions that can be made only by visiting the branch, as our customers can apply for a loan or open an account / a deposit online or through the NBK Mobile Banking App. Additionally, NBK was the first bank in Kuwait to provide its customers with the online account opening service.”
“Even before the pandemic, we placed providing some transactions that were thought to be only possible through branches on our digital channels on the agenda of digital transformation roadmap, which made us well-prepared to meet our customers’ needs of in that regard during the pandemic and to enhance our capabilities to meet those needs. Looking forward, we expect the culture of reliance on digital transactions to continue significantly after the end of the crisis,” he added.
Largest rewards program
Speaking on NBK receiving “Best Online Product Offerings” award in Kuwait and the Middle East, Al-Othman stated: “Rewarding our customers is a key pillar of our strategy to meet their needs and represents a major part of our efforts to enrich their banking experience.”
Al-Othman pointed out that the NBK Rewards Program is the largest in Kuwait by including 900 participating outlets of the leading brands.
Global Finance, founded in 1987, is one of the most reputable magazines specialized in finance and economics. It has a circulation of 50,000 readers in 187 countries, including senior corporate and financial officers responsible for making investment and strategic decisions at multinational companies and financial institutions.
The magazine conducts various surveys annually about innovation and profitability for banks and financial institutions all over the world, based on which it selects top performers on the regional and international levels.
For more information about Global Finance’s World’s Best Digital Bank Awards 2021, please visit their website:
The key word is NBK team
Al-Othman emphasized that all the successes achieved by Consumer Banking Group at National Bank of Kuwait is thanks to NBK team, saying: “NBK team is the key word and the core of our strength and excellence. NBK employees, with their exquisite skills and expertise, sense of responsibility, initiative-taking and determination to excel are the cornerstone of all our leading achievements, innovations and initiatives.”
“I dedicate the awards and appreciation to NBK employees, especially those who worked day and night for continuous days under exceptional circumstances full of challenges that they were able to successfully overcome, and preserve NBK’s interests amidst those hard times experienced all over world. They have made remarkable achievements that will remain one of the brightest episodes in the bank’s rich history, proving that NBK is capable to maintain its leadership in the future thanks to these distinguished cadres,” he added.
Kuwait: NBK Posts Strong Net Profits of KD 575.6 Million in FY2025
28.01.2026National Bank of Kuwait (NBK) has announced its financial results for the financial year ended 31 December 2025.The Bank reported a net profit of KD 575.6 million (USD 1.9 billion), compared to KD 600.1 million (USD 2.0 billion) for the financial year 2024. Earnings per share (EPS) stood at 64 fils for 2025, compared to 66 fils for 2024.
Profit before tax increased by 5.4% on a year-on-year basis, reaching KD 734.6 million (USD 2.4 billion) at the end of 2025, compared to KD 696.8 million (USD 2.3 billion) in 2024.
Total assets as of December 2025 grew by 13.1% year-on-year, reaching KD 45.6 billion (USD 149.4 billion), while customer deposits grew by 14.0%, totaling KD 26.1 billion (USD 85.3 billion) by the end of 2025.
Meanwhile, Group loans and advances reached KD26.8 billion (USD 87.8 billion) by December 2025, reflecting a growth of 13.1% year-on-year. In the meantime, shareholders' equity also saw an increase, standing at KD 4.3 billion (USD 14.0 billion), up by 9.2% year-on-year.
In terms of distributions, the Board of Directors has proposed a cash dividend of 35 fils per share for the financial year 2025, equivalent to 53% of net profits. In addition, the Board has recommended the distribution of bonus shares at a ratio of 5%. These proposed distributions are subject to the approval of the Annual General Assembly (AGM).
A Prudent Approach
Commenting on the Bank's annual financial results, Mr. Hamad Al-Bahar, NBK Group Chairman, affirmed that, despite the challenges posed by the global economic environment in 2025, including the repercussions of geopolitical tensions, tariff pressures, and the accommodative trajectory of interest rates, the Bank succeeded in further consolidating its position as a leading financial institution. This performance was underpinned by a prudent operating approach and a flexible strategy anchored in diversification and financial discipline.
Al-Bahar noted that the Bank’s financial results for the year ended 31 December 2025 reflect NBK’s ability to adapt and navigate a wide range of economic conditions, supported by a diversified business model, a strong capital base, high-quality assets, comfortable liquidity position, and a robust governance and risk management framework.
He added that the Bank continues to successfully execute its strategy of balancing the delivery of superior returns to shareholders with meeting the evolving needs of its customers. He further emphasized that sustainability has become a central pillar of NBK’s long-term growth agenda. The Bank recorded a significant year-on-year increase of approximately 23% in the value of its sustainable assets, reaching USD 6.10 billion by the end of 2025. This represents 61% of its strategic 2030 target of USD 10 billion. Al-Bahar added that 2025 marked a year of significant achievements that further reinforced NBK’s position as the largest contributor to corporate social responsibility initiatives in Kuwait. Among the most notable milestones were the inauguration of the Shuwaikh Beach Development and Beautification Project, funded by the Bank at a cost of KWD 3 million, as well as the laying of the foundation stone for the expansion of the NBK Children’s Hospital for Hematology, Oncology, and Stem Cell Transplant. The expansion includes the construction of a new building at an estimated cost of nearly KWD 19 million.
Solid Operating Performance
Meanwhile, Mr. Isam J. Al-Sager, NBK Group Vice Chairman and CEO, said: “The Group’s 2025 results reflect the solid operating performance delivered across its various business segments, led by its core banking activities, despite the volatile global operating environment and its spillover effects on regional and local markets. During the year, the Group recorded a year-on-year growth of 3.6% in net operating income, reaching KWD 1.3 billion (USD 4.2 billion).”
He noted that the Group’s profit before tax recorded a year-on-year increase of 5.4% in 2025, while net profits were impacted by the application of the domestic top-up minimum tax on multinational entities operating in Kuwait. He emphasized that this impact on profit growth is transitional in nature, reflecting the base-year effect of 2025 as the first year of the tax’s implementation.
Al-Sager emphasized that NBK Group’s diversified business mix, carefully calibrated strategic investments, and disciplined risk management have mitigated the impact of adverse global economic conditions. He added that NBK continues to invest in technology and innovation as fundamental pillars of inclusive and sustainable growth, while also expanding its customer base and capitalizing on opportunities across promising markets and key sectors.
He further noted that, throughout 2025, the Bank continued to roll out innovative banking services and products specifically designed to meet the evolving needs of its customers. In addition, the Group’s Consumer and Digital Banking arm launched its new five-year strategy through 2030, marking a strategic shift from mere digitization of services to a fully customer-centric, underpinned by data collection and advanced analytics. This transformation further reinforces NBK’s leadership position locally and regionally, offering an exceptional banking experience.
Furthermore, Al-Sager pointed to the key contribution of both NBK Group’s corporate banking and international operations, as well as Boubyan Bank— the Group’s Islamic banking arm— in strengthening the Group’s profits. He further highlighted that NBK Wealth has continued to consolidate its position as the largest wealth management entity in Kuwait and among the largest in the region, by offering an integrated suite of private banking, investment management, and advisory services through a globally connected network of operations.
On major financing transactions, Al-Sager stated: “During 2025, NBK led a KWD 1.5 billion syndicated term facility with Kuwait Petroleum Corporation (KPC). This transaction represents the largest financing of its kind denominated in Kuwaiti Dinars. The Bank served as the mandated lead arranger and bookrunner for the facility, as well as the agent for the conventional tranche. NBK’s share amounted to KD 495 million of the total financing, making it the largest contributor among all participating conventional and Islamic banks, accounting for approximately 60% of the KD 825 million conventional tranche.”
Al-Sager noted that this transaction reinforces NBK’s position as the largest financier of Kuwait’s oil sector and the primary banking partner for energy companies in supporting their expansion and growth plans.
He further noted that Kuwait Clearing Company’s selection of NBK as the country’s main settlement bank represents a testament to the Bank’s substantial investments in digital infrastructure and its high level of operational readiness. This milestone further strengthens NBK’s role in advancing the development of Kuwait’s capital market infrastructure.
On the sustainability front, Al-Sager affirmed that NBK continues to deepen its leading role in shaping a more sustainable future through its green financing initiatives and the development of products and solutions that reflect global best practices in sustainable finance. In this context, he pointed to the Bank’s signing in 2025 of Kuwait’s first-ever green loan agreement. He also highlighted NBK’s ongoing efforts to strengthen its environmental, social, and governance (ESG) framework through measurable initiatives that support emissions reduction and the achievement of carbon neutrality by 2060.
The Operating Environment
Al-Sager expressed his optimism regarding an improvement in the domestic operating environment in 2026, supported by a number of key factors.
He explained that the Financing and Liquidity Law enacted in 2025 has established an advanced framework for long-term sovereign debt issuances, thereby enhancing banking system liquidity through high-quality sovereign assets and supporting the financing of large-scale projects. He added that the Real Estate Financing Law—once approved—would enable banks to provide long-term financing for the residential sector, helping address the housing challenge and stimulating activity across construction and real estate–related sectors.
Moreover, Al-Sager noted that the value of government-awarded projects in 2025 exceeded KWD 4 billion, surpassing 2024 levels by well over 60%. Meanwhile, bank credit recorded solid performance, with credit to residents growing by approximately 7.63% year-on-year as of the end of December 2025, the fastest pace since 2023.
He indicated that project awards are expected to gain further momentum in 2026, supported by the broad pipeline of initiatives under the government’s capital projects program across multiple sectors, alongside a gradual pace of interest rate cuts. This combination bodes well for the outlook and is set to create a favorable environment for credit growth for both corporates and individuals during the year.
He emphasized, however, that while the domestic outlook remains positive, it is accompanied by certain regional and global challenges, including persistent geopolitical tensions, tariffs, and their associated negative economic repercussions.
Prestigious Awards
During 2025, NBK further consolidated its leadership position by receiving a series of prestigious awards from leading global institutions and publications.
Among these accolades, MEED named NBK Best Retail Bank and Best SME Bank in Kuwait, in addition to awarding the Bank several regional honors across the Middle East and North Africa, including Best Loan Offering, Best Contactless Payment Experience, and Best Payment Solutions for SMEs. NBK’s digital subsidiary, Weyay Bank, was also recognized with the Most Innovative Product Award for its children’s card, “Jeel.”
NBK also received three prestigious awards from Global Finance, including Best Digital Payment Solutions and Best Online Product Offerings in Kuwait, while Weyay Bank was named Best Digital Bank in Kuwait. Furthermore, the Bank won four awards from Euromoney, including Kuwait’s Best Bank for ESG, Kuwait’s Best Bank for Large Corporates, Kuwait’s Best Bank for Diversity and Inclusion, as well as Kuwait’s Best Digital Bank for Weyay Bank.
Key financial indicators for the financial year ended December 31, 2025
• Net operating income stood at KD 1.3 billion (USD 4.2 billion), up 3.6% year-on-year
• Total assets grew by 13.1% year-on-year, at KD 45.6 billion (USD 149.4 billion)
• Total loans and advances increased by 13.1% year-on-year to KD 26.8 billion (USD 87.8 billion)
• Customer deposits grew by 14.0% year-on-year to KD 26.1 billion (USD 85.3 billion)
• Total shareholders’ equity amounted to KD4.3 billion (USD 14.0 billion), registering an annual growth of 9.2%.
• Strong asset quality metrics, with NPL/gross loans ratio at 1.36% and an NPL coverage ratio of 240%
• Robust Capital Adequacy Ratio of 17.0%, comfortably exceeding regulatory requirements.