Al-Watani Posts KWD 324.8 Million Profit in First Half, Up 3%
National Bank of Kuwait announced its financial results for the six-month period ended June 30, 2026, reporting net profits of 324.8 million dinars ($1.1 billion), compared to 315.3 million dinars ($1.0 billion) during the same period in 2025, representing a year-on-year growth rate of 3%.
The bank’s net profit for the second quarter of 2026 rose to 189.3 million dinars ($614.9 million), up from 181.2 million dinars ($588.4 million) in the corresponding period last year, marking a year-on-year growth of 4.5%.
Total assets reached 46.2 billion dinars ($150.2 billion) by the end of June 2026, a 5.9% increase compared to the same period last year. Meanwhile, the total loan and advance portfolio grew by 8.9% to 27.8 billion dinars ($90.2 billion).
Customer deposits continued to record strong growth, rising by 13.1% year-on-year to 27.0 billion dinars ($87.7 billion) by the end of June 2026. Shareholders’ equity stood at 4.5 billion dinars ($14.7 billion), a 7.1% increase 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, said: “The results for the first half of 2026 reflect the bank’s ability to continue achieving sustainable growth, despite ongoing uncertainty at the global and regional levels, and geopolitical challenges casting a shadow over the economic landscape.”
Al-Bahar explained that the financial results achieved by the bank during the first six months of 2026 confirm the robustness and high resilience of the group’s business model in dealing with various changes. This is attributed 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 systems.
He noted that the bank 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. This approach 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. Additionally, the bank continues to play a leading role in corporate social responsibility by 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, stated: “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. This is 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 clarified that the bank recorded a 4.8% year-on-year growth in net operating income, rising from 631.4 million dinars ($2.1 billion) in the first half of 2025 to 662.0 million dinars ($2.1 billion) by the end of June 2026. This growth was driven by strong performance across various business sectors, sustained momentum in core banking activities, and the maintenance of high levels of operational efficiency, which positively impacted profit quality and the sustainability of growth.
He emphasized that investment in technology and innovation constitutes one of the key pillars of the Group’s strategy for sustainable growth, noting that NBK continues to develop its technological infrastructure and enhance its digital capabilities, thereby contributing to improved operational efficiency, enhanced customer experience, and the delivery of innovative banking solutions that keep pace with the rapid developments in the financial sector.
He added that the NBK Mobile service represents one of the main pillars 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 maintained their strong performance and active contribution to supporting revenues and profitability during the first half of 2026, benefiting from the Group’s geographic spread and diversified business activities across regional and global markets. Meanwhile, Boubyan Bank continued to strengthen 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, thereby supporting the Group’s strategy based on diversifying income sources and enhancing its local, regional, and global presence.
He clarified that National Wealths Group also continued to achieve outstanding performance, consolidating its leading position locally and regionally in wealth management and private banking services, and providing integrated investment solutions that meet the needs of high-net-worth individuals across various markets.
He stressed that Weyay 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, thereby supporting the Group’s direction toward building an integrated digital banking ecosystem.
Al-Saqer affirmed that NBK views sustainability as a strategic opportunity to enhance long-term value, explaining that the Bank works on integrating sustainability principles into its various operations and investment decisions, thereby supporting the development of a more resilient business model capable of adapting to changes and achieving sustainable growth.
He continued: “We continue to work on improving operational efficiency, enhancing customer experience, and developing our human and technological capabilities, thereby reinforcing 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. Despite ongoing uncertainty 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, with bank credit continuing to grow, primarily driven by increased financing directed to the business sector. He explained that increased oil production, alongside the acceleration of awarding development projects and rising investment spending, represent key factors that will support an improvement in the operating environment in the post-conflict phase in the region.
• A 5.9% increase in total assets on an annual basis to reach KD 46.2 billion.
