Al-Watani Reports 324.8 Million KD in Net Profit for the First Half

National Bank of Kuwait announced its financial results for the six-month period ended June 30, 2026, reporting net profits of KD 324.8 million, compared to KD 315.3 million during the same period in 2025, representing a year-on-year growth of 3%.

The bank’s net profit rose to KD 189.3 million in the second quarter of 2026, up from KD 181.2 million in the corresponding period last year, marking a year-on-year growth of 4.5%.

Total assets reached KD 46.2 billion as of the end of June 2026, an increase of 5.9% compared to the same period last year. Meanwhile, the total loan and advance portfolio grew by 8.9% to reach KD 27.8 billion.

Customer deposits continued to record strong growth rates, rising by 13.1% year-on-year to KD 27 billion at the end of June 2026. Shareholders’ equity stood at KD 4.5 billion, an increase of 7.1% compared to the end of June 2025.

Commenting on the financial results, Hamad Al-Bahar, Chairman of the Board of Directors of National Bank of Kuwait, stated: “The results of the first half of 2026 reflect the bank’s ability to continue achieving sustainable growth, despite ongoing global and regional uncertainty and geopolitical challenges casting a shadow over the economic landscape.”

He explained that the financial results achieved by “Al-Watani” during the first six months of 2026 confirm the robustness and high resilience of the Group’s business model in dealing with various changes, thanks to its diversification strategy across business sectors and geographic markets, alongside its strong financial position, high levels of capitalization and liquidity, asset quality, and advanced governance and risk management framework.

Al-Bahar noted that “Al-Watani” is working to strengthen its leading position by capitalizing on promising opportunities in the markets it operates in, while maintaining the highest standards of financial and operational discipline—a approach that has been one of the key factors behind the bank’s success over more than seven decades.

He emphasized that sustainability has become a key pillar of the Group’s strategy, pointing to the bank’s continued expansion of sustainable finance activities and support for initiatives contributing to the transition toward a more sustainable economy, alongside its continued leading role in corporate social responsibility through launching and sponsoring developmental and community initiatives that leave a positive and lasting impact on society.

For his part, Essam Al-Saqer, Vice Chairman and Chief Executive Officer of National Bank of Kuwait Group, said: “The financial indicators for the first half of 2026 reflect the strength of the Group’s operational performance and its success in achieving balanced growth across various business sectors, supported by diversified income sources and the continued growth of core banking activities, confirming the resilience of the Group’s business model and its ability to deliver sustainable results under various economic conditions.”

Al-Saqer explained that the bank recorded growth in net operating income of 4.8% year-on-year, rising from KD 631.4 million in the first half of 2025 to KD 662 million at the end of June 2026, driven by the strong performance of various business sectors, sustained momentum in core banking activities, and the maintenance of high levels of operational efficiency, which positively impacted earnings quality and growth sustainability.

He affirmed that investment in technology and innovation represents a key pillar of the Group’s strategy for sustainable growth, noting the continued development of National Bank of Kuwait’s technological infrastructure and enhancement of its digital capabilities, contributing to improved operational efficiency, enhanced customer experience, and the provision of innovative banking solutions that keep pace with rapid developments in the financial sector.

He added that the “Watani Mobile” service program represents a key pillar of the bank’s digital ecosystem, through the continued development and provision of innovative digital features, solutions, and services that meet evolving customer needs and enhance ease of use and flexibility.

Al-Saqer pointed out that the Group’s international operations continued to deliver strong performance and make a significant contribution to supporting revenues and profitability during the first half of 2026, benefiting from the Group’s geographic spread and diversified activities across regional and global markets. Meanwhile, Boubyan Bank continued to enhance its contribution to the Group’s results through the growth of its business, expansion of its customer base, and development of its products and services, supporting the Group’s strategy of diversifying income sources and strengthening its local, regional, and global presence.

Al-Saqer explained that National Wealth Group continued to deliver outstanding performance, consolidating its leading position locally and regionally in wealth management and private banking, and providing integrated investment solutions that meet the needs of high-net-worth clients in various markets.

He affirmed that Wiyaya Bank continues to expand its customer base and enhance its digital services, leveraging its innovative banking model and focus on meeting the needs of the new generation, supporting the Group’s direction toward building an integrated digital banking system.

Al-Saqer emphasized that National Bank of Kuwait views sustainability as a strategic opportunity to enhance long-term value, noting that the bank is working to integrate sustainability principles into its various businesses and investment decisions, supporting the development of a more resilient business model capable of adapting to changes and achieving sustainable growth.

He added: “We continue to work on improving operational efficiency, enhancing the customer experience, and developing our human and technological capabilities, thereby consolidating our ability to deliver sustainable value to shareholders, customers, and the communities in which we operate.”

Regarding his expectations for the local operating environment, Al-Saqer said: “The Kuwaiti economy continues to demonstrate its resilience in the face of regional and global challenges. Although uncertainty remains at both the global and regional levels, current indicators warrant cautious optimism regarding the outlook for the Kuwaiti economy, provided that geopolitical conditions stabilize.”

He added that recent economic indicators reflect an improvement in local economic activity, as bank credit continued to grow, primarily driven by increased financing directed to the business sector. He clarified that increased oil production, alongside the acceleration of awarding developmental projects and rising investment spending, are key factors that will support an improvement in the operating environment in the post-conflict phase in the region.

During the first half of 2026, National Bank of Kuwait continued to strengthen its local and regional leadership by receiving a number of prestigious awards from leading global institutions, recognizing its excellence in banking performance, innovation, and the quality of services provided to customers.

The bank won the “Best Bank in Kuwait 2026” award from Global Finance magazine. It also received the “Best Bank in Cash Management in Kuwait 2026” award from the same magazine for the fourth consecutive year, recognizing its leadership in treasury and liquidity management solutions.

National Bank of Kuwait was also awarded five prizes by MEED magazine as part of the Middle East and North Africa Banking Excellence Awards 2026. These included awards for Best Bank for SMEs in the MENA region and Kuwait, Best Credit Card Offers in the region, and Best Bank for Retail Banking in Kuwait. Additionally, Wiyaya Bank received the award for Best Loan Offer in the region.

For its part, National Wealth Group continued to strengthen its leading position in wealth management and private banking, achieving a notable global milestone by winning the “Best Global Next-Gen Private Banking Services 2026” award from Global Finance magazine. The Group also won the “Best Next-Gen Services in Kuwait 2026” award from Euromoney, along with the “Best in Kuwait for High-Net-Worth Clients 2026” award, and two awards for “Best in the Middle East” and “Best in Kuwait” for Fixed Income Instruments 2026, confirming its excellence in providing specialized investment solutions and banking services that meet the aspirations of various customer segments.

Key Financial Highlights:

- 4.8% growth in net operating income to reach KD 662 million.

- 5.9% increase in total assets to reach KD 46.2 billion.

- 8.9% rise in total loans and advances to reach KD 27.8 billion.

- 13.1% growth in customer deposits to KD 27 billion.

- KD 4.5 billion in shareholders’ equity, an increase of 7.1%.

- 1.22% non-performing loans ratio of the total credit portfolio, with a coverage ratio of 256%.

- 17.0% capital adequacy ratio, exceeding the minimum regulatory requirements.