National Bank Reports Net Profit of 481.7 Million Dinars in Nine Months

National Bank of Kuwait announced its financial results for the nine months ended September 30, 2026, recording net profits of 481.7 million Kuwaiti dinars, compared to 467.4 million dinars in the corresponding period of 2025, representing a growth rate of 3.1%. Total assets as of the end of September 2026 rose by 4.5% on a year-on-year basis to reach 46.9 billion dinars, while total loans and advances grew by 8.2% year-on-year to reach 28.2 billion dinars. Customer deposits at the end of the first nine months of 2026 also increased by 13.5% on a year-on-year basis to reach 27.9 billion dinars, while total shareholders’ equity amounted to 4.6 billion dinars, up 5.1% compared to the same period last year.

Commenting on these results, Hamad Al-Bahar, Chairman of the Board of Directors of National Bank of Kuwait Group, stated: “The results for the first nine months of 2026 reflect the robustness of the Group’s business model and its ability to deliver strong and sustainable performance across various economic conditions, underpinned by diversified income sources, a strong financial position, and strategic flexibility.”

He noted that the bank continued to strengthen its position as a leading financial institution in the region during the third quarter, supported by a strong balance sheet, high capital ratios, comfortable liquidity levels, and solid asset quality. He emphasized the bank’s ongoing commitment to embedding sustainability standards across all of NBK’s operations and investment decisions, thereby supporting sustainable growth and creating long-term value for shareholders.

Al-Bahar confirmed the bank’s continued support for national and community initiatives, highlighting NBK’s recent contribution of $5 million to the Kuwait Emergency Response Fund, as well as providing 1.3 million dinars to develop facilities at Kuwait International Airport and 1 million dinars for the renovation and rehabilitation of land border crossings in Abdali, Salwa, and Nuwaysib.

He also pointed to NBK’s continued leadership in corporate social responsibility, noting its receipt of the “Best Bank in the Middle East for Corporate Social Responsibility 2026” award at the Euromoney Awards for Excellence, in recognition of its initiatives in various fields such as health, education, sports, and others.

For his part, Essam Al-Saqer, Vice Chairman and Chief Executive Officer of National Bank of Kuwait Group, said: “The financial indicators recorded by the Group during the nine months ended September 30, 2026, demonstrate its ability to achieve balanced and sustainable growth despite the challenges facing the regional and global business environment.”

Al-Saqer revealed that net operating income grew by 3.8% on a year-on-year basis to reach 1 billion dinars, driven by momentum in core banking activities and the positive contribution of the Group’s affiliated activities and sectors to revenue generation, reflecting the success of the bank’s strategy focused on diversifying income sources and leveraging opportunities in the markets it operates in.

He added that overseas operations continued to play a key role in diversifying the Group’s performance, benefiting from NBK’s broad geographic presence in regional and global markets, which enhanced income source diversification and increased business resilience in the face of economic changes. Additionally, Boubyan Bank, the Group’s Islamic banking arm, continued to make a strong contribution to revenue and profitability growth, supported by its leading position in the Islamic banking sector.

Al-Saqer clarified that the Group made tangible progress in implementing its strategy aimed at enhancing geographic diversification and expanding revenue sources, leveraging the integration between its conventional and Islamic banking activities and wealth management operations.

He noted that, in line with NBK’s commitment to strengthening its regional and international presence, the bank recently opened a new branch at Qatar Financial Centre, supporting its expansion plans and enhancing customer service in the Qatari market. In the wealth management sector, Al-Saqer said: “National Wealth Group has continued to consolidate its position as one of the leading specialized wealth management entities in the region, supported by business growth and rising demand for specialized investment and advisory solutions, alongside ongoing development of its products and services to meet customer needs and expectations amid a changing investment environment.”

Al-Saqer emphasized that diversification remains a cornerstone of Kuwait National Bank Group’s strategy, leveraging synergies across its various activities, sectors, and markets to enhance business model resilience and its ability to deliver sustainable value to shareholders.

He stated that NBK continued to demonstrate its leadership in digital banking during the third quarter by launching innovative solutions that elevate customer experience and improve operational efficiency. As part of its digital transformation strategy, the bank expanded its integrated digital services to include additional personal banking products, launching Kuwait’s first fully digital mortgage loan. It also enabled the opening of children’s accounts, completed all credit card application procedures digitally, and allowed cards to be added directly to digital wallets through the NBK Mobile app.

He explained that these initiatives align with NBK’s vision to redesign the customer journey and deliver a smoother, more convenient banking experience, reinforcing its position as a leading financial institution in digital innovation.

Al-Saqer highlighted NBK’s significant progress in implementing its sustainability and sustainable finance objectives, noting that the group focuses on creating long-term value for stakeholders by developing responsible financing solutions and enhancing the positive impact of its operations on the economy and society.

Regarding the operating environment in Kuwait, Al-Saqer said economic activity has improved recently, supported by the gradual recovery of oil production and progress in implementing the national development agenda. He added that project activity maintained its momentum, with the total value of awarded projects reaching approximately KD 3 billion during the first nine months of 2026, alongside attracting international investments to the infrastructure sector in the third quarter. This reflects investors’ confidence in the Kuwaiti economy and strengthens prospects for investment activity in the coming period.

He pointed out that Kuwait has made notable progress in economic and legislative reforms recently, including the issuance of the Mortgage Finance Law, noting that its implementation will support the growth of the banking sector and stimulate economic activity, particularly in sectors linked to the housing market and real estate development.

Concluding his remarks, Al-Saqer said: “At Kuwait National Bank, we rely on a solid capital base and strong liquidity levels, which position us to capitalize on future growth opportunities and reinforce our market leadership. Our strong relationships with the public and private sectors continue to solidify our position at the forefront of banks supporting Kuwait’s development plans.”

Key results and indicators for the first nine months of 2026:

- Net operating revenues of 1.261 billion Kuwaiti dinars, representing a 3.8% year-on-year growth.

- Total assets increased by 4.5% year-on-year to reach 46.9 billion Kuwaiti dinars.

- Total loans and advances rose by 8.2% year-on-year to reach 28.2 billion Kuwaiti dinars.

- Customer deposits grew by 13.5% year-on-year to reach 27.9 billion Kuwaiti dinars.

- Shareholders’ equity amounted to 4.6 billion Kuwaiti dinars, up 5.1% year-on-year.

- Non-performing loans accounted for 1.29% of the total credit portfolio, with a coverage ratio of 236%.

- Capital adequacy ratio stood at 15.9%, exceeding the minimum regulatory requirements.