KIB Reports KWD 26.6 Million Net Profit in First Nine Months

Sheikh Mohammed Jarrah Al-Sabah, Chairman of the Board of Directors of Kuwait International Bank (KIB), announced that the Group achieved net profits attributable to shareholders amounting to 26.6 million Kuwaiti dinars during the nine months ended September 30, 2026, compared to profits of 20.4 million dinars during the same period in 2025, representing a growth rate of 30%. Earnings per share also reached 13.51 fils, compared to 9.98 fils during the same period in 2025. Meanwhile, net profit attributable to shareholders for the third quarter alone stood at approximately 9 million dinars, reflecting a growth rate of 62%.

Commenting on the results, Sheikh Jarrah stated: “The financial results achieved by KIB during the first nine months of 2026 reflect the Bank’s success in sustaining growth and delivering balanced performance in a regional environment characterized by rapid developments and far-reaching market repercussions. Thanks to our comprehensive strategy, we have effectively managed these changes while continuing to focus on business quality, diversification of income sources, operational efficiency improvement, and prudent risk management.”

He added: “KIB continued to execute its strategic priorities during the period, leveraging the strength of its business base and its accumulated expertise in Islamic banking and capital markets. The developments witnessed in the Bank’s operations throughout the year demonstrated its ability to expand the scope of its innovative services and products, diversify its revenue and funding sources, strengthen relationships with customers and investors, and enhance its presence in both local and regional capital markets.”

Regarding the Group’s financial position, Sheikh Jarrah noted that total assets grew by 8% to reach 4.74 billion dinars as of September 30, 2026, compared to 4.37 billion dinars as of September 30, 2025. This growth was driven by an increase in the financing portfolio by 269 million dinars, representing an 8% growth rate, to reach 3.48 billion dinars, compared to 3.21 billion dinars during the same period last year. Additionally, the financial investments portfolio, which includes high-quality sukuk, rose by 62 million dinars, or 12%, to reach approximately 582.7 million dinars as of September 30, 2026, compared to approximately 520.4 million dinars as of September 30, 2025.

More Diversified and Flexible Business Model

For his part, Raed Jawad Al-Boukhamseen, Vice Chairman and Chief Executive Officer, stated: “The results achieved by KIB during the first nine months of this year reflect continuous efforts to develop a more diversified and flexible business model, alongside a focus on enhancing operational efficiency and improving service quality. We have continued to invest in our human and technical capabilities, and in developing solutions that respond to market changes and our customers’ needs.”

He added: “While we continue to work on strengthening our local operations, the past period has witnessed a notable expansion in KIB’s activity across regional capital markets, underscoring our ability to leverage our banking and investment expertise in new markets and reinforcing our presence as a trusted partner in Islamic finance.

Growth in Key Financial Indicators

Al-Bukhashim reviewed the key financial indicators for the first nine months of 2026 compared to the same period last year. Net fee and commission income rose to KD 10.3 million, up from KD 7.7 million, representing a 33% growth. Net investment income also increased to KD 4.5 million, up from KD 4.3 million, reflecting a 4% growth. This contributed to a 7% increase in total operating income compared to the first nine months of 2025, reaching KD 69 million.

Regarding the Group’s financial position, Al-Bukhashim noted that customer deposits grew by 2% to KD 3.08 billion as of September 30, 2026, compared to KD 3.03 billion as of September 30, 2025. Total shareholders’ equity also grew by 1%, reaching KD 374 million as of September 30, 2026, up from KD 371 million as of September 30, 2025. He highlighted the continued maintenance of high total capital adequacy ratios in line with Basel 3 regulations, standing at 20.32% as of September 30, 2026. Meanwhile, the liquidity coverage ratio reached 238.1% as of September 30, 2026, further supporting the Bank’s ability to continue executing its growth plans.

Issuance of Sukuk Worth $500 Million

In this context, Al-Bukhashim highlighted KIB’s success in September 2026 in pricing its first issuance of unsecured senior sukuk, valued at $500 million with a five-year tenor, as part of a $1.5 billion sukuk issuance program.

He explained that the issuance attracted strong investor demand, with total subscription orders reaching approximately $1.2 billion, equivalent to 2.4 times the size of the issuance. The sukuk were priced at a margin of 95 basis points above US Treasury yields, with an annual profit rate of 5.502%.

He noted that this issuance represents a significant addition to the long-term funding base, enhancing liquidity and liability management flexibility. It also reflects investor confidence in the Bank and its ability to access international capital markets and utilize Sharia-compliant financing instruments, thereby supporting its future growth plans.

Growing Presence in Regional Capital Markets and Prestigious Achievements and Awards

Regionally, KIB, represented by its Islamic investment arm, KIB Invest, participated as a joint lead manager in the pricing of the third issuance of guaranteed international sukuk by the Saudi government in favor of the Saudi Refinancing Company, with a total value of $2.75 billion. This supports the Bank’s strategy to expand its network of relationships with financial institutions and international investors, and to continue developing its activities in debt and Islamic finance markets.

KIB continued to garner the highest regional and international awards, reflecting the efficiency of its business model and its banking leadership. The bank won the “Best Bank in Real Estate Banking and Innovation in PropTech in Kuwait for 2026” award from the International Union of Arab Bankers, in recognition of its leadership in providing integrated real estate banking services and its efforts to develop innovative digital solutions that enhance the experience of customers and investors. The award was presented during the 2026 Arab Banking Excellence and Achievement Awards ceremony.

The bank also won two prestigious awards from Islamic Finance News (IFN) for its second tranche of sukuk valued at $300 million: the “Kuwait Deal of the Year 2025” and the “Regulatory Deal of the Year 2025.” This achievement underscores the significance of the issuance and the strong position the bank holds in Islamic capital markets. The awards were presented at the IFN Awards ceremony held in Dubai.

A continuous strategy for growth and sustainability: Al-Jarrah and Bu-Khamsin stated that the results achieved during the first nine months of 2026 confirm KIB’s ability to continue implementing its strategic plans amid a changing regional environment, while maintaining a clear balance between growth, profitability, and risk management.

They noted that priorities for the coming phase include growing core businesses, diversifying income sources, and improving operational efficiency, while continuing to invest in technology, enhancing the customer experience, and maintaining a balanced approach to capital, liquidity, and risk management.

In conclusion, Al-Jarrah and Bu-Khamsin expressed their appreciation for the supervisory and regulatory role of the Central Bank of Kuwait, and for the pivotal role played by the Capital Markets Authority in developing Kuwait’s investment environment. They also commended the efforts of the Board of Directors, the executive management, and all KIB employees, emphasizing that the achievements during the period under review reflect the integration of efforts and the ongoing commitment to building a stronger and more sustainable foundation for growth.