NBK Posts 481.7 Million KD Profit in 9 Months, Up 3.1%

National Bank of Kuwait announced its financial results for the nine months ended September 30, 2026, reporting net profits of 481.7 million dinars ($1.6 billion), compared to 467.4 million dinars ($1.5 billion) in the corresponding period of 2025, representing a growth of 3.1 percent.

Total assets as of the end of September 2026 rose by 4.5 percent on an annual basis to reach 46.9 billion dinars ($152.4 billion), while total loans and advances grew by 8.2 percent year-on-year to reach 28.2 billion dinars ($91.6 billion).

Customer deposits at the end of the first nine months of the year also increased by 13.5 percent on an annual basis to reach 27.9 billion dinars ($90.6 billion), while total shareholders’ equity amounted to 4.6 billion dinars ($15.1 billion), up 5.1 percent compared to the same period last year.

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

Al-Bahar 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 capitalization ratios, comfortable liquidity levels, and solid asset quality. He emphasized the bank’s continued commitment to embedding sustainability standards across all National Group operations and its operational and investment decisions, thereby supporting sustainable growth and creating long-term value for shareholders.

He confirmed the bank’s ongoing support for national and community initiatives, highlighting the National Group’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 restoration and rehabilitation of land border crossings in Abdali, Salwa, and Nuwaiseeb.

He pointed to the National Group’s continued leadership in corporate social responsibility, noting its win 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 the National 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 percent on an annual basis to reach 1.0 billion dinars ($3.3 billion), 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 based on diversifying income sources and leveraging opportunities in the markets it operates in.

He added that external operations continued to play a key role in diversifying the Group’s performance, benefiting from the National Group’s wide geographical presence in regional and global markets. This 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.

He clarified that the group has made tangible progress in implementing its strategy aimed at enhancing geographic diversification and expanding revenue sources, leveraging the integration of its traditional and Islamic banking businesses and wealth management activities.

He noted that, in line with NBK’s commitment to strengthening its regional and international presence, the bank recently opened a new branch at the Qatar Financial Centre, supporting its expansion plans and enhancing customer service in the Qatari market.

In the wealth management sector, Al-Saqer said, “NBK Wealth 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 the ongoing development of its products and services to meet customer needs and aspirations amid a changing investment environment.”

He emphasized that diversification remains a cornerstone of NBK Group’s strategy, leveraging synergies across its various activities, sectors, and markets, thereby enhancing the resilience of its business model and its ability to deliver sustainable value to shareholders.

Al-Saqer stated that NBK continued to demonstrate its leadership in digital banking during the third quarter by launching innovative solutions that enhance customer experience and improve operational efficiency. He explained that, as part of its digital transformation strategy, the bank expanded its integrated digital services to include additional personal banking products. This included launching Kuwait’s first fully digital mortgage loan, enabling the opening of children’s accounts, and allowing customers to complete all credit card application procedures digitally and add cards directly to digital wallets via the NBK Mobile app.

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

He confirmed that NBK has made 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 that economic activity has improved recently, supported by the gradual recovery of oil production and progress in implementing the development agenda.

He noted 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. This coincided with the attraction of international investments to the infrastructure sector during the third quarter, reflecting investors’ confidence in the Kuwaiti economy and strengthening prospects for investment activity in the coming period.

Al-Saqer pointed out that Kuwait has made notable progress in economic and legislative reforms recently, including the issuance of the Mortgage Finance Law. He noted 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 Finance House (NBK), we rely on a solid capital base and strong liquidity levels, which position us to capitalize on upcoming 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.”