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Kuwait: NBK’s AGM Approved Distribution of 30% Cash Dividends and 5% Bonus Shares
13.03.2022National Bank of Kuwait (NBK) held yesterday (Saturday, 12 March 2022), its annual Ordinary General Meeting (OGM) and Extraordinary General Meeting (EGM) for 2021 with an attendance of 75.46%. The AGM approved the Board of Directors’ recommendation to distribute 30% cash dividends to shareholders (30 fils per share) in addition to 5% bonus shares (5 shares for every 100 shares owned). The general assembly also elected eleven members of the bank’s board of directors for the next 3-year term.
In his speech at the AGM, Mr. Nasser M. Al-Sayer, NBK Group Chairman mentioned that during last year, NBK remained committed to achieving its strategic objectives and goals, namely, to become broadly recognized as the trusted bank of choice in Kuwait, building on its core values, people, and expertise to deliver world-class products and the highest service quality to the customers, whilst also attracting top Kuwaiti talent.
Strategic course
We also were committed to maintaining our strategic course by accelerating investment in the innovation and digital transformation, we seek to grow our business in corporate, consumer and private banking. We also strive to strengthen our geography, products, and services – whilst also leveraging our expanding product portfolio to attract high-net-worth private banking clients, Al-Sayer noted.
Leading position
Al-Sayer continued: “In achieving our goals, we were helped by the improved operating environment in view of easing the restrictions imposed to contain the spread of the COVID-19 pandemic, the state’s improving fiscal standing on the back of rebounding oil prices and increasing consumer spending, supported by loan payment deferrals, stable employment ratios among Kuwaiti nationals as well as reduced overseas travel. This was complemented by the continued support provided by the Central Bank of Kuwait to the banking sector by taking proactive measures that strengthened liquidity levels & capital ratios.”
“In the meantime, NBK remained in a highly attractive market position, as the leading banking Group in Kuwait in terms of assets, customer deposits and customer loans and advances. The bank ranked amongst the 50 safest commercial banks in the world, and the top 10 banks in the region and maintained its position as the most valuable banking brand in Kuwait.”
Supporting national economy
Al-Sayer explained: “Beside its superior financial and operational performance, NBK is committed to supporting the Government of Kuwait’s development plans. In particular, the bank is advancing the nation’s strategic agenda in terms of driving economic growth through the private sector to achieve increasing economic diversification. This includes our contribution to developing and expanding the nation’s financing infrastructure to enable growth in the SME sector and beyond, as well as our role as a key finance facilitator for the establishment of public–private partnerships (PPPs). We are also actively involved in the process of digitizing Kuwait’s economy, as a key partner in the government’s drive to expand the country’s digital innovation.”
ESG initiatives
Al-Sayer emphasized that as part of NBK’s commitment to promote sustainable future growth, we embarked on a new journey to achieve world-class environmental, social and governance (ESG), and initiated intensive planning in 2021 to devise a strategy to guide our sustainability initiatives going forward. Our ESG vision will place sustainability at the heart of our strategy, corporate culture, and operations across the Group.
Significant impact
Al-Sayer mentioned that during 2021, NBK continued to create a significant impact through a wide range of ESG initiatives and partnerships, which included reinforcing the responsibility of our Board committee and subcommittee to overseeing critical ESG issues and collaborating with a number of international financial institutions to develop an overall ESG strategy in this regard.
Al-Sayer extended sincere gratitude to the Bank’s executive management for their successful stewardship throughout 2021. Their dedication to NBK’s strategic objectives has been both admirable and highly effective in realizing our goals in yet another year of challenges.
Al-Sayer also stated that with the end of the current session of the Board of Directors, he has taken the decision not to run for the next elections of the Board. Meanwhile, he wished the new Board of Directors all success and progress in continuing NBK’s prosperous journey towards a future of sustainable growth. He also thanked the shareholders for their consistent support of all of the Bank’s strategic directions
Exceeding expectations
On his part, Mr. Isam J. Al-Sager, NBK Group CEO, said in his speech: “During the past year, we achieved all our goals and exceeded expectations, despite the slowdown in the operating environment and the continued impacts of the pandemic, reflecting our robust business model and strategic focus on diversification.”
The year 2021 was another year of strong growth for our balance sheet, as assets grew by 11.9% year-on-year to reach KD 33.3 billion, whereas shareholders’ equity reached KD 3.3 billion and total loans and advances boosted by 12.7% to KD 19.7 billion, and customer deposits increased by 6.9% to KD 18.3 billion, he added.
During the past year, the Group was able to maintain high levels of capitalization with a capital adequacy ratio of 18.1%, exceeding the minimum regulatory ratios and Basel III requirements.
Asset quality metrics continued to improve, with NPL ratio reaching 1.04%, while the coverage ratio reached 300%, and the return on average shareholders’ equity increased to 10.2%, while the return on average assets grew to 1.15%, he continued.
On the other hand, Boubyan Bank, the Islamic arm of the Group, delivered strong operational results, and international operations contributed a healthy 25% to both the net operating income and the net profit of the Group, which enhances the strategy of diversifying the Group’s income sources, Al-Sager noted.
Solid base
Al-Sager indicated that this performance places NBK on solid base making it well positioned for growth in the medium and long term; especially as we look to the future and focus on delivering sustainable and long-term returns to our shareholders.
In 2021, we established our Global Wealth Management (GWM) division through which we aim to grow our market share in asset management and expand our existing client base in regional markets including Saudi Arabia. In 2021, The Group’s assets under management exceeded USD 17.7 billion, leveraging our strong brand that is trusted by HNWIs across Kuwait and beyond, he added.
Investors’ confidence
Al-Sager mentioned: “During this year, we further enhanced our capitalization through bond issuances that captured heavy subscription endorsing the continuous confidence of international investors in the Bank, also giving a testament to its unique reputation and position, and reflecting its credit profile which is among the strongest in Kuwait and the entire region.”
We also added more and more prestigious awards to our rich record in recognition of our accomplishments in providing top-notch products and services to our customers.
In addition, NBK continued to attract high-caliber national talent and serve the goals of New Kuwait Vision 2035 by increasing national labor ratio in the banking sector and supporting the national economy by recruiting local talent, he elaborated.
Taking the lead
On the sustainability level, we are proud of the progress made in embracing highest ESG standards and placing sustainability at the heart of our corporate culture.
We will continue to build on what we have achieved in our ESG agenda to remain, as always regarded, a role model in taking the lead in this regard, both locally and regionally. We will always remain committed to achieving responsible and sustainable growth, and will continue to share our successes with the communities in which we operate, he stressed.
We continue to generate strong revenues year after year, and our proactive digital transformation strategy and expansion of our digital infrastructure continue to drive our success, which is now seen as a springboard for regional growth and expansion, he added.
On the future outlook, Al-Sager said: “We are optimistic that the pace of economic recovery and improving operating environment will continue, supported by the strong hikes in oil prices, which would ease pressure on Kuwait’s budget and boost investment spending during the coming period.”
Innovative products
Al-Sager promised: “We remain committed to designing innovative products for our customers and constantly expanding our digital offerings. We will also work on upgrading our infrastructure to be more advanced and innovative in order to enrich customer experience, in addition to investing heavily in our human capital and strengthening our footprint in key growth markets including GCC countries and Egypt.”
Al-Sager concluded his speech by extending personal thanks to the Board of Directors for their wise counsel and guidance, as well as all Group staff at all levels for their unwavering dedication and commitment in delivering on their job duties under these exceptional circumstances. He also stated special thanks to NBK customers at home and abroad, stating that NBK look forward to provide with the best banking products and services that fully meet their expectations.
Digital agenda
On the sidelines of the AGM, Mrs. Shaikha Al-Bahar, NBK Group Deputy GCEO, said: “We continued to invest heavily in implementing the Group’s digital transformation roadmap, despite the impact of the pandemic on our business. We had no doubts about our vision for digital transformation and preparing proactively for the next generation of digital banking services to maintain our leadership despite the operational challenges.”
“The digital agenda has become a key pillar in all our strategies, and we started bearing the fruits of our efforts in building a digital culture and mindset at Group level,” she added.
“As a result of the accelerated digital transformation strides, the banking services conducted through digital channels using NBK Mobile Banking, NBK Online Banking, ATMs and CDMs reached 97.6% of total banking transactions during 2021.”
Al-Bahar praised the role of NBK Group Digital Office as a key enabler in the organization for digital transformation, which is also responsible for increasing innovative products and service portfolio through Fintech partnerships.
In 2021, we achieved significant progress in Robotic Process Automation (RPA), and building the necessary infrastructure for the strategy of increased reliance on Artificial Intelligence (AI) in the future, she mentioned.
Al-Bahar added: “The year 2021 marked a milestone in our digital transformation and preparation for the future, with the launch of Weyay, the first digital bank in Kuwait, with the aim of increasing our market share of the Kuwaiti youth segment, being one of the bank’s key targets.”
Launching Weyay Bank comes in line with NBK’s proactive digital transformation strategy aiming to explore new markets. It may be introduced in other regional markets, and thus contribute to generating new revenues for the Group, she elaborated.
Ongoing expansion
Al-Bahar said: “Our successful strategy for diversification and geographical expansion of our operations in the regional and international markets proved successful throughout the COVID-19 pandemic. From where we stand today and with what we have achieved in 2021, we are more confident in delivering a strong year building on the investments we have been making, and accelerating the implementation of our digital transformation roadmap in the key regional markets of Egypt and KSA.”
“The group continues to focus on the cross-selling opportunity to best leverage its large network of subsidiaries and branches as well as its widespread and diversified client base with special focus on wealth management in KSA and retail business in Egypt,” she added.
Speaking about the Egyptian market, Al-Bahar said: “We seek to expand in the retail and wholesale banking in the Egyptian market by investing in digital banking services and focusing on acquisition of new customers and simplifying banking transactions.”
“In Saudi Arabia, we will continue to strengthen our wealth management proposition and link it to the Group’s global wealth management platform, as we see huge potentials in this area. We also seek to increase our commercial banking offerings in the Saudi market to gradually develop and strengthen our presence in the Kingdom and increase its contribution to the Group’s bottom line,” she pointed out.
The bank of the future
Giving his take, Mr. Salah Y. Al-Fulaij, CEO of NBK-Kuwait, announced after the meeting: “2021 was a year of special success for NBK, during which it achieved significant progress in its digital transformation plans and agenda. It also successfully launched “Weyay”, as the first digital bank in Kuwait, which represents a leap in the bank’s efforts to become the bank of the future.”
“Weyay Bank is tailored to meet the evolving banking demands and expectations of Kuwaiti youth who represent third of the population, and a key feeder to NBK’s Consumer Banking Group customer base,” he added.
Al-Fulaij noted that with the increasing competitiveness in this segment, NBK acted to defend its market share by providing more attractive offers aiming to achieve more expansion and dominance in the youth segment by meeting their needs and changing the rules of the game by launching Weyay Bank.
Weyay would constitute a starting point towards launching similar strategies in other regional markets in which we operate to generate new revenues for the Group, he continued.
“NBK seeks that digital offering will ramp up growth and grow our market share and targeted segment penetration. We are using our digital investments and the capabilities built in Kuwait (including NBK Digital Factory) as a critical growth avenue in the short- and medium-term, particularly for growing our retail banking operations across the Group,” he added.
New opportunities
Al-Fulaj also mentioned that during 2021, the Corporate Banking Group succeeded in capturing new business opportunities within the oil sector, as projects began moving after the diminishing of the pandemic, and both oil and petrochemicals prices increased, delivering further growth across other strategically important sectors during the year.
Regaining momentum
Al-Fulaij noted that during the past year, the operating environment in Kuwait witnessed more signs of rebound that was characterized by higher consumer spending, improvement in business activity and volumes as well as gradual recovery in government spending and project awarding, which reached KD 1.5 billion in 2021.
Al-Fulaj mentioned that the infrastructure gap in Kuwait still requires large investments, and there lies opportunities for us to provide all investment services and solutions and advisory banking services, expecting that the pace of project awarding to rebound, as NBK sees promising opportunities from the regained momentum to Public-Private Partnership (PPP) projects, as well as its efforts to consolidate its leading position as the advisory body of choice for the Kuwaiti oil and gas sector.
Trusted partner
Al-Fulaij stated that NBK seeks to increase the growth in its AUM by expanding into new markets and reinforcing the existing relationships with clients. We have a regional platform for global asset management, through which we provide global investment products and services. In addition, we support our clients using its long experience and extensive knowledge of market trends and different business sectors.
High-caliber talent
Al-Fulaij emphasized that despite the outbreak of the pandemic, NBK continued to attract high-caliber talent throughout 2021, as during the year, it recruited 376 new employees, including 335 Kuwaitis, an up by 3.09%.
Al-Fulaij mentioned that NBK boasts the highest employee retention rates and the employer of choice in the private sector for talents and competencies, adding that the bank regards its employees as its most valuable asset, and therefore gives paramount care to their health and safety as well as to developing their talents.
Al-Fulaij pointed out that NBK’s employment policies are based on giving equal opportunities and are largely based on gender diversity, as female employees account for 45% of the total workforce, while national labor ratio reached 74.6% by the end of 2021.
He noted that the strategy of the recruitment team of Group Human Resources aims to attract high-caliber talent, support the goals of the New Kuwait Vision 2035, and strive to increase the national labor ratio in the banking sector, and support the national economy by soliciting and developing local talent.
Moreover, as part of the career development program, Al-Fulaij said that NBK delivered over 41,000 training hours to employees in 2021. It also provided various programs to over 335 trainees through a strategic partnership with LOYAC, and supported 40 fresh graduates through “Tamakan” career readiness program.
Kuwait: NBK Reports Net Profit of KD 135.5 Million in 1Q2026
26.04.2026National Bank of Kuwait (NBK) has announced its financial results for the three months ended 31 March 2026. The Bank reported a net profit of KD 135.5 million (USD 441.3 million), compared to KD 134.1 million (USD 436.8 million) for the first quarter of 2025.
Total assets as of the end of March 2026 rose by 10.7% year-on-year, reaching KD 46.1 billion (USD 150.2 billion), while Group loans and advances grew by 10.9%, compared to the corresponding period of 2025 to reach KD 27.3 billion (USD 88.9 billion).
Meanwhile, customer deposits increased by 10.0% year-on-year to reach KD 25.9 billion (USD 84.3 billion), while shareholders’ equity rose by 6.0% year-on-year, reaching KD 4.3 billion (USD 13.9 billion) as of the end of March 2026.
Delivering with Efficiency and Discipline
Commenting on the Bank's financial results, Mr. Hamad Al-Bahar, NBK Group Chairman, stated that the Bank’s financial performance in 1Q2026 underscores the strength and resilience of its business model, sustaining stable performance with consistency and discipline amid heightened regional and global uncertainty.
Al-Bahar noted that NBK Group navigated these conditions with efficiency, anchored in a prudent strategic approach, diversified operations and strong operational flexibility, supported by a solid capital base, high asset quality, comfortable liquidity levels, and a robust governance and risk management framework. This enabled the Group to manage the rapidly evolving geopolitical developments with discipline and foresight; effectively mitigating their impact on overall performance.
“In light of the exceptional global and regional developments, we at NBK reaffirm our unwavering commitment to our national responsibility, as well as our continued dedication to supporting the State’s strategic direction and future aspirations. We remain firmly committed to contributing to the effective execution of development plans and advancing sustainable development, in a manner that strengthens the resilience of the national economy and serves the interests of the nation and its citizens. We pray for the continued safety, security, and stability of Kuwait,” Al-Bahar said.
He emphasized NBK’s commitment to its role as a key partner in supporting the stability of the national economy and serving the community with consistency and reliability under all circumstances. He highlighted that the Bank continues to operate in close coordination with the Central Bank of Kuwait, in collaboration with other Kuwaiti banks, to reinforce confidence in the banking sector, ensure the uninterrupted continuity of banking services and to extend support across all economic sectors.
Furthermore, Al-Bahar highlighted that the strength of Kuwait’s banking sector, underpinned by robust capitalization, ample liquidity, and a well-established regulatory framework, constitutes a fundamental pillar reinforcing the economy’s resilience and its capacity to navigate prevailing challenges with confidence.
Operational Resilience
Meanwhile, Mr. Isam J. Al-Sager, Vice Chairman and Group CEO of NBK, highlighted that the Group’s financial performance in 1Q2026 reflects the underlying strength and consistency of its operating model, supported by a well-diversified business mix, a balanced geographic footprint, and disciplined long-term strategic investments, underpinned by a prudent and forward-looking risk management framework.
He emphasized that the diversification of NBK Group’s business portfolio and its broad geographic footprint have materially strengthened its resilience, effectively mitigating the impact of recent geopolitical tensions on performance.
Furthermore, Al-Sager highlighted that the Bank’s operations continued with a high degree of efficiency and stability, without disruption, despite challenges in certain regional markets. “During 1Q2026, NBK continued to deliver the full spectrum of banking services to both retail and corporate customers, within Kuwait and across its international network, in a secure and uninterrupted manner. This was facilitated through its domestic branch network, as well as the International Business Group (IBG)”
He added that all banking systems and customer service platforms remain fully operational and efficient, with no impact on business continuity or the quality of service delivery.
Al-Sager also emphasized that digital channels, including the NBK Mobile Banking App and NBK Online Banking platforms, continue to operate with full efficiency, alongside the Bank’s ATM network deployed across multiple locations and operating on a 24/7 basis. He further emphasized that all critical and support functions continue to perform seamlessly, ensuring uninterrupted service delivery, particularly across trade finance and corporate banking activities.
He also underscored that the safety of employees and customers remains a paramount priority, with all necessary measures and precautionary protocols firmly in place to maintain a secure and stable working environment, while upholding the highest standards of operational readiness and business continuity across all markets.
Core Business Segments
Al-Sager stated that NBK Group’s core business segments delivered a resilient and well-balanced performance during 1Q2026, reflecting the depth and quality of its earnings base. This translated into a 6.6% year-on-year increase in net operating income, reaching KD 331.2 million (USD 1.1 billion) during the period.
He noted that NBK continued to expand its customer base through the disciplined rollout of innovative digital products and services, complemented by a consistently differentiated customer experience. Moreover, he added that the Bank’s sustained investments in technology and innovation are strategically positioned to reinforce its leadership in digital banking, enabling scalable growth, enhancing operational efficiency and driving long-term value creation for both customers and shareholders.
In parallel, Al-Sager highlighted that NBK Group’s international operations, alongside its Islamic banking arm, Boubyan Bank, played a pivotal role in supporting the growth of net operating income and net profit during 1Q2026, reflecting the strength of the Group’s strategic vision and the effectiveness of its diversified business model.
Al-Sager further emphasized that NBK Wealth continues to reinforce its standing as the largest wealth management entity in Kuwait and among the region’s leading players, reflecting the strength of its platform and the consistency of its performance. He added that this momentum has been recognized through a series of prestigious international awards, including “Best Private Banking Services for the Next Generation in the World 2026” and “Best Private Bank in Kuwait 2026” from Global Finance magazine, as well as the “Best Regional Investment-Focus in the Middle East 2026” award from MandateWire.
Sustainability and Organizational Excellence
Al-Sager reaffirmed NBK’s continued commitment to advancing its sustainability agenda through the expansion of green financing initiatives and the development of products and services aligned with leading global practices, while supporting the State’s direction toward achieving carbon neutrality by 2060.
As part of its efforts to further enhance the workplace environment, he highlighted the launch of the Diversity, Equity, and Inclusion (DEI) Council during 1Q2026, reflecting the Bank’s commitment to fostering a fair and inclusive workplace that leverages diversity as a source of strength and innovation.
Business Environment
Commenting on the business environment in Kuwait, Al-Sager said: “The business environment demonstrated early signs of improvement at the start of the year, supported by credit expansion, heightened real estate activity, and a surge in project awards. However, recent geopolitical tensions in the region have weighed on the broader outlook, rendering economic prospects more susceptible to elevated uncertainty”.
Al-Sager added that, despite prevailing uncertainty, Kuwait continues to benefit from strong financial buffers that reinforce its capacity to navigate current challenges. He emphasized that the strength of the country’s financial assets, alongside sustained momentum in economic reforms and infrastructure investments in the period ahead, constitute key pillars underpinning the stability of Kuwait’s economy.
He further noted that NBK will continue to reinforce its operational resilience, deepen the diversification of its income streams, and uphold its disciplined and prudent approach, ensuring the sustained creation of value for shareholders and customers across evolving economic conditions.
Al-Sager concluded by commending the recent regulatory and precautionary measures introduced by the Central Bank of Kuwait, underscoring their critical role in further strengthening the stability and resilience of the domestic banking sector and enhancing its capacity to sustain support for the broader economy under prevailing conditions.
Key financial indicators for the financial in1Q2026
• Net operating income stood at KD 331.2 million (USD 1.1 billion), up 6.6% year-on-year
• Total assets grew by 10.7% year-on-year, at KD 46.1 billion (USD 150.2 billion)
• Total loans and advances increased by 10.9% year-on-year to KD 27.3 billion (USD 88.9 billion)
• Customer deposits grew by 10.0% year-on-year to KD 25.9 billion (USD 84.3 billion)
• Shareholders’ equity amounted to KD 4.3 billion (USD 13.9 billion), registering an annual growth of 6.0%.
• Strong asset quality metrics, with NPL/gross loans ratio at 1.35% and an NPL coverage ratio of 241%
• Robust Capital Adequacy Ratio of 16.4%, comfortably exceeding regulatory requirements.
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.