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Kuwait: NBK’s AGM Approves All Motions Proposed by the Board of Directors
24.03.2024National Bank of Kuwait (NBK) held its Annual General Meeting (AGM) for 2023 on Saturday, March 23, 2024, with a quorum of 71.87%. The AGM approved the Board of Directors’ recommendation to distribute 25% cash dividend to shareholders (25 fils per share) for the second half of the financial year, bringing the total cash dividend distributions for the year to 35%, in addition to the distribution of 5% bonus shares (5 shares for every 100 shares owned).
Consistent Progress
In his speech to the AGM attendees, Mr. Hamad Al-Bahar, NBK Group Chairman, emphasized that the strong financial results achieved by the bank in 2023 highlight its unique business model and strong financial position. This performance reaffirms NBK’s dedication to providing the highest returns for shareholders and promoting sustainable growth.
Al-Bahar highlighted the multitude of successes attained by the bank in 2023, further solidifying its track record of accomplishments and leadership both domestically and internationally. These endeavors were acknowledged with numerous prestigious awards, further affirming NBK’s position of excellence.
"Our sustained achievements stem from our core strategy of diversification, which lies at the foundation of our operations. By strategically expanding our portfolio and services across various geographical locations, we mitigate risks, capitalize on potential opportunities, and reinforce our dedication to adaptability, resilience, and long-term stability."
"We remain committed to making substantial strides in executing our strategic agenda, and we are optimistic that our accomplishments over the past year will serve as a catalyst for enhanced performance in the future." Al-Bahar emphasized. He also underscored NBK's robust balance sheet and stable capital foundation, highlighting their role in meeting the evolving demands of customers and delivering optimal returns for shareholders.
Al-Bahar further stated, "Our endeavors yielded improvements across all key performance indicators compared to the previous year. This underscores the effectiveness and adaptability of our long-standing strategy, solidifying our position as a safe haven for investors, depositors, wealth management clients, individuals, and businesses alike. Moreover, we remain committed to leveraging the potential of digital transformation and sustainability initiatives, while fostering collaboration with communities, corporations, and individuals to foster a brighter and more inclusive future."
Social Responsibility
Al-Bahar highlighted the bank's prominent role in social responsibility over the past year, establishing itself as a leader in Kuwait. The bank contributed over KD 28 million across various sectors including healthcare, childcare, societal initiatives, environmental causes, sports, and education.
Expanding our Footprint
Discussing the bank's prospects for the current year, Al-Bahar remarked, "Regarding our outlook for 2024, our expansion efforts will primarily focus on Kuwait as our core market, with strategic initiatives in the GCC markets. We intend to further strengthen our presence in current markets through strategic investments. Additionally, the bank aims to introduce its proven digital banking solutions in other markets, while enhancing its footprint across MENA region."
Unwavering commitment
Al-Bahar emphasized NBK's unwavering dedication to upholding the highest ethical standards and governance principles. He highlighted the bank's dynamic and proactive governance framework, which fosters transparency, accountability, and ethical conduct across all levels. Al-Bahar noted that the Board of Directors, in collaboration with the dedicated executive management team, prioritizes aligning strategic decisions with the bank's core values to effectively serve the interests of its shareholders.
Historical Earnings
Meanwhile, Mr. Isam J. Al-Sager, NBK Group Vice Chairman and CEO, outlined in his speech that the bank reached its highest annual profit on record in 2023 and maintained strong profit trends. This accomplishment was supported by its diversified business model, strategic investments, and resilience in the face of various economic conditions.
Al-Sager highlighted that despite the challenging operating environment and geopolitical tensions experienced last year, the bank achieved a record profit of KD 560.6 million, marking a year-on-year growth of 10.1%. Additionally, the operating profit surged to KD 1.2 billion, reflecting a substantial increase of 15.6%.
Al-Sager further stated, "Our core segments exhibited strong performance and sustained operational momentum, particularly in our international operations and wealth management divisions. Additionally, Boubyan Bank further supported our competitive edge in the local market as the sole banking group offering both Islamic and conventional banking services in Kuwait."
He explained that the bank maintained consistent dividend rates of 35 fils per share by the end of the year, highlighting the strong financial position of the Group and its commitment to providing shareholders with optimal returns.
He highlighted that as of December 31, 2023, total assets stood at KD 37.7 billion, marking a 3.7% year-on-year increase. He attributed this growth primarily to the expanding volume of the Group's business across diverse sectors and activities.
Al-Sager also indicated that shareholders' equity reached KD 3.7 billion, reflecting a notable annual growth of about 7.3%. Return on average shareholders' equity stood at 15.0%, while return on average assets demonstrated strong rates, reaching 1.53% in 2023. Moreover, customer deposits surged to KD 21.9 billion by year end, marking an 8.8% increase compared to 2022. Concurrently, loans and advances experienced a growth of 6.1%, reaching KD 22.3 billion. Additionally, the capital adequacy ratio surpassed the minimum required levels, reaching 17.3%.
Challenges and Opportunities
Al-Sager remarked that Kuwait encountered challenges akin to those experienced globally in 2023. However, he highlighted several opportunities seized upon during the past year. These included the sustained increase in oil prices, the flexibility observed in consumer spending, accelerated growth in the projects market compared to previous years, positive trends in employment and population growth, advancements in the refining sector, and a less hawkish monetary policy approach. These factors collectively contributed to shaping a favorable economic environment in Kuwait.
He highlighted that the remarkable achievements of the bank in the previous year were attributable to several factors, including leveraging its geographical footprint, advancing the digital transformation initiative, and maintaining a robust financial position. These aspects strengthened revenue streams while maintaining the bank's prudent policies over the years. Consequently, this positively impacted asset quality and boosted capitalization.
Centre of Attention
Al-Sager emphasized that in 2023, NBK continued its commitment to prioritizing customers by offering innovative digital services and products to support their financial objectives.
Wealth Management
Al-Sager highlighted that in the previous year, NBK Wealth was introduced as a premier destination for pioneering and sophisticated wealth management solutions. It offers an extensive array of comprehensive services in private banking and advanced asset management through a global network spanning 9 cities across 5 countries.
In the domain of digital transformation, Al-Sager emphasized that the bank leads among financial institutions in digital innovation, prioritizing a banking experience tailored to the actual needs and aspirations of its customers. He noted that the bank's unwavering dedication to addressing customer needs has played a pivotal role in reshaping the lifestyles of its customers through a meticulously crafted range of digital services and products.
Sustainability Momentum
Al-Sager elaborated that the bank sustained its progress in sustainability by embarking on a new trajectory for its environmental, social, and corporate governance (ESG) strategy. This involved the adoption of a formal ESG governance framework and the integration of these standards across its services and products. For instance, it introduced green mortgage loans, consumer loans for electric vehicles, financing options related to sustainability, and low-emission housing loans.
“Recently, we have been recognized as the Best Bank in the Middle East for ESG-related loans. Furthermore, we have successfully finalized and approved the ESG framework, clearly defining responsibilities among members of the executive management. We have also established the Sustainability and Climate Change Committee, which operates under the direct oversight of the Board of Directors.
Al-Sager highlighted that NBK has maintained a high score by CDP, distinguishing itself as the sole bank in Kuwait to receive this recognition. Furthermore, NBK ranks among the highest-rated GCC financial institutions engaged in this initiative. Additionally, the bank has committed to reducing total operating emissions by 25% by 2025 and aims to achieve zero emissions operationally by 2035. These initiatives are integral to the bank's overarching plans to attain carbon neutrality by 2060. Consequently, these efforts led to an upgrade in the Bank's MSCI ESG Governance rating to BBB as per the 2023 review.
A Sustainable Future
"Our agile strategy and resilient business model will persist in steering us towards delivering utmost value to our stakeholders, serving as a cornerstone in our journey towards a digital and sustainable future. We remain steadfast in our commitment to sustaining revenue growth through responsible banking practices, strategic investment in our future, innovative products and services, enhancement of our digital capabilities, fostering holistic community development, and playing a significant role in fostering economic growth in Kuwait and beyond." Al-Sager said.
Focus on profitability
"As we navigate the opportunities and challenges of 2024, our dedication to prioritizing profitability, capital resilience, and sustainable growth remains unwavering. However, we recognize the need to closely monitor several challenges, with geopolitical tensions in the region standing out as particularly significant." Al-Sager concluded.
Diverse Mix
On the sidelines of the AGM, Ms. Shaikha K. Al-Bahar, NBK Deputy Group CEO highlighted that NBK has witnessed positive growth trends in the previous year, demonstrating continued success in executing its strategic plans, confirming that the primary sources of profitability in 2023 were centered around core banking operations.
Al-Bahar explained that NBK's performance in 2023 showcased the effectiveness of its diverse business portfolio and prudent risk management practices. She highlighted the substantial strides made in executing its customer-centric strategy, underscoring NBK's sustained momentum across various fronts. This encompassed achieving robust levels of capitalization, maintaining high credit quality, and strengthening customer relationships, all of which led to an expansion in business volume.
She emphasized that these factors were pivotal in driving last year’s strong performance and will play a significant role in generating sustainable value for shareholders in the long term. She also highlighted the bank's ongoing commitment to expanding its business operations while enhancing the quality of its services.
"2023 served as a testament to the resilience of our investment philosophy in driving growth initiatives and the importance of customer-centricity. These factors propelled the ongoing expansion across our diverse business sectors. Throughout the year, we remained committed to investing in the future, enhancing our digital capabilities to improve customer service, and introducing innovative products and solutions aimed at facilitating our customers' banking needs." Al-Bahar said.
Al-Bahar emphasized that the International Banking Group (IBG) maintained robust performance and supported the balance sheet, accounting for 24% of operating income and 23% of the Group's profits. This underscores their significant contribution to the overall performance of the Group.
She highlighted that in 2024, IBG will strengthen the bank's footprint in key regional markets, particularly in Saudi Arabia and the UAE. This will involve targeting Government Related Entities and Top-Tier Corporations. Additionally, strategic expansion efforts will focus on the European Union, particularly in corporate lending, trade finance, Commercial Real Estate, and residential mortgages. The Group also aims to strengthen its footprint in Asia through its regional hub in Singapore while diversifying its Commercial Real Estate portfolio.
Al-Bahar further emphasized that IBG are committed to diversifying the Group's commercial real estate portfolio. Additionally, they aim to integrate ESG standards into credit management processes while promoting digital and technological investments across the business network.
She emphasized that throughout 2023, the bank remained focused on maintaining high asset quality and strong capitalization. Highlighting the significance of the Saudi market, she noted that it is a key priority for the NBK Group due to the numerous emerging opportunities aligning with the bank's strategic goals. Additionally, she highlighted the profitability of the bank's operations in Egypt, which continue to be among the most lucrative within the Group, boasting the highest returns on both shareholders' equity and assets.
Wealth Management
Al-Bahar highlighted that NBK Wealth Group played a significant role in 2023, contributing 10% to operating income and approximately 11% to the Group's profits. She noted that the previous year marked the official announcement of the launch of its brand, solidifying its position as one of the largest regional groups in comprehensive wealth management. The group caters to high-net-worth individuals and corporations, offering tailored financial advisory services aimed at protecting and growing the wealth of its customers, through offering innovative and comprehensive banking and investment solutions.
She further mentioned that NBK Wealth, with approximately US$37.6 billion in personal financial assets by the end of 2023, boasts an elite team comprising over 100 investment experts and brokers with extensive experience in the field.
Revolutionary Change
Al-Bahar emphasized that the bank has made significant progress in its digital transformation journey by introducing notable updates and enhancements to the NBK Mobile Banking App. These updates represent a revolutionary shift in how customers engage with their everyday banking requirements through a highly efficient and user-friendly interface. This contributes to enhancing and refining the overall customer experience.
The Best Experience
Al-Bahar highlighted that NBK's efforts persist in delivering top-tier banking experiences, operating with the utmost efficiency, and securing a significant market share by offering customers a broader array of options and numerous value-added services. She underscored the bank's consistent commitment to delivering added value for all stakeholders, employing a balanced approach to boost revenues from diverse sources, and enhancing the Group's profitability. This entails maintaining the bank's prominent position in its core business while fostering growth through expansion into sectors beyond its key business activities.
Digital Offerings
She emphasized that NBK remains dedicated to investing in its digital offerings to furnish customers with a unique and unparalleled banking experience. This commitment encompasses the implementation of cutting-edge financial tools and unique banking services, along with regular updates to the NBK Mobile Banking App, acclaimed as one of the premier banking applications in the sector. Moreover, NBK leverages data analysis and artificial intelligence across many of its services, employing machine learning techniques to deliver a personalized experience that surpasses customer expectations.
Social Initiatives
Al-Bahar confirmed that the bank's social initiatives persisted throughout the past year, marked notably by the official introduction of the "Bankee" program. This initiative aims to enhance financial inclusion, particularly among school students, fostering sustainable improvement in financial literacy levels within society. In collaboration with the Ministry of Education and Kuwait Authority for Anti-Corruption "Nazaha,", the program engaged 150 schools and over 16,000 students, supported by the participation of 3,000 teachers. Additionally, the program also included a special needs school for learning difficulties.
She highlighted that the bank's endeavors to support and empower women saw significant recognition with the NBK Rise program receiving the prestigious Best Initiative for Women in Business accolade at the MEED MENA Banking Excellence 2023. This notable achievement reflects the culmination of the bank's dedicated steps towards women's empowerment. Importantly, this effort extends beyond the bank itself to encompass several leading organizations in Kuwait.
Leadership Centre
On the sidelines of the AGM, Mr. Salah Y. Al-Fulaij, Chief Executive Officer – Kuwait remarked that throughout 2023, NBK’s endeavors were marked by initiatives aimed at strengthening its leading position in Kuwait and enhancing customer loyalty.
Al-Fulaij further added that the bank focused on enhancing and refining the NBK Mobile Banking App by incorporating over 30 enhancements to improve both user interface and experience. He highlighted that the App witnessed over 50 million banking transactions in the past year, marking a notable 19% year-on-year growth.
He emphasized that NBK Mobile Banking App is elevating digital offerings to new levels as part of the bank's ongoing endeavors to empower customers through the digital transformation journey. This is particularly evident in the substantial increase in customer satisfaction rates, exceeding 90%, following the recent update of the new App.
The Youth Segment
Al-Fulaij indicated that in 2023, the bank continued to leverage the valuable offerings provided by Weyay Bank, increasing its market share in the youth segment to over 30%. Additionally, the bank forged a partnership with MasterCard, which now serves as the exclusive provider of bank cards.
He highlighted that NBK extended bank cards to SMEs as part of its commitment to catering to the needs and demands of this segment. Moreover, the bank entered into several partnerships to introduce new services, including exclusive offers for retirees in collaboration with the Public Institution for Social Security.
He emphasized that the bank has broadened its range of robust offerings for customers in the premium services sector through partnerships with top-tier brands, providing this segment with an exclusive lifestyle experience.
“We will persist in implementing customer-centric strategies that foster technological advancements and introduce innovative initiatives to bolster NBK's standing as a reliable financial partner and establish new benchmarks in Kuwait's banking industry,” Al-Fulaij said.
Al-Fulaij underscored that NBK's commitment to delivering exceptional products and services to its customers earned it several accolades throughout the year, notably being recognized as the Best Innovation and Transformation (World) by Global Finance. He emphasized that NBK's significant and strategic investments in its workforce, operational infrastructure, and digital platforms over the years have unequivocally proven their worth and effectiveness.
Maximum Benefit
Al-Fulaij emphasized that NBK's Personal Banking Group capitalized on the momentum of consumer spending and operations by offering exceptional banking services and products. He highlighted the implementation of a strategy that prioritizes customer choice based on individual needs and lifestyle preferences when designing products. Additionally, he emphasized NBK's commitment to maintaining a significant digital advantage over its competitors.
He added that the Corporate Banking Group remains steadfast in achieving its strategic objectives, with a primary focus on maintaining and expanding NBK's leadership and market share as the preferred corporate partner in Kuwait.
He emphasized that the bank plans to continue leveraging new business opportunities with existing customers and attract new ones, thanks to its exceptional service and the strength of its capital base.
Al-Fulaij elaborated that in 2023, the Corporate Banking Group introduced a pioneering set of commercial cards, the first-of-its-kind in Kuwait, aimed at empowering customers to manage their business expenses effectively. Additionally, new services were introduced to streamline the provision of digital and physical documents to corporate clients, fostering the growth of our medium-sized corporate clientele.
“In 2024, our focus will remain on maintaining prudent credit risk management practices, We will continuously monitor and assess the performance and effectiveness of our interactions with corporate customers, to continually enhance our offerings. Moreover, we are committed to continue our efforts to integrate ESG standards into our assessments of corporate customer credit and creditworthiness, thereby fostering improved governance in business practices,” Al-Fulaij commented.
Renewed Momentum
Al-Fulaij also noted that Kuwait's operating environment in the past year displayed continued signs of recovery, driven by increased consumer spending and improved business activity. Additionally, there was a gradual recovery in spending and project awards, with project activities experiencing their strongest performance since 2017 in terms of the value of contracts awarded. This positive trend is expected to have a favorable impact on private sector lending.
Key Pillar
Al-Fulaij indicated that the exceptional results achieved by the bank in 2023, along with its robust operational and financial performance, owe much to the exceptional human capital, which stands as the cornerstone of the bank's achievements. He highlighted that the Human Resources Group is persistently dedicated to fostering a work environment conducive to enhancing employees' capabilities, encouraging peak performance, fostering innovation, and driving continuous improvement.
Al-Fulaij revealed that in 2023, NBK allocated approximately 179,000 training hours to its employees, with 142,000 hours dedicated to local training initiatives and 36,700 hours for IBG.
Moreover, the bank initiated numerous academic, motivational, and cultural programs. He emphasized NBK's commitment to providing equal opportunities to all employees, underscoring that this commitment is evident in the bank's workforce composition. Notably, women accounted for approximately 44% of the total workforce, with around 28.8% holding senior management positions. Additionally, Kuwaiti employees constituted about 76.7% of the total workforce by the end of 2023.
He highlighted that the bank's initiatives persist in fostering a workplace culture where individual advancement meets collective achievements. These initiatives entail offering professional development avenues for employees, equipping them to navigate the complexities of the dynamic landscape and the evolving demands of the sector. "Our investments have not only empowered our employees and supported their capability to tackle challenges but have also positioned our organization as a frontrunner in innovation and competitiveness," He emphasized.
"In 2023, the bank's endeavors culminated in receiving five prestigious awards. Among these accolades were three awards from MEED, recognizing our outstanding contributions to women's empowerment initiatives and sustainable development of human resources. Additionally, we were honored with the bronze award from the Society for Human Resource Management (SHRM). The recognition is credited to the NBK RISE program, recognizing the initiative’s excellence in diversity and inclusion. Furthermore, we received the coveted Bronze Medal from Brandon Hall International Group, for our excellence in Best Advance Program in Compliance Training,” Al-Fulaij concluded.
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.