BOK Posts 523.4 Million KD Profit in 9 Months, Up 6.2%

Hamad Abdulmohsen Al-Marzouq, Chairman of the Board at Kuwait Finance House (KFH), announced that the bank achieved net profit attributable to shareholders of 523.4 million Kuwaiti dinars through the end of the third quarter of 2026, representing a growth rate of 6.2 percent compared to the same period last year.

He added that this figure represents the highest profits in the Kuwaiti banking sector, noting that earnings per share reached 27.56 fils through the end of the third quarter of 2026, a 5.4 percent increase compared to the same period last year. Net financing revenues also rose through the end of the third quarter of 2026, reaching 989.5 million Kuwaiti dinars, a growth rate of 4.8 percent compared to the same period last year.

He stated that total operating revenues increased through the end of the third quarter of 2026, supported by growth across all main activities, reaching 1,452.2 million Kuwaiti dinars, a 6.7 percent increase compared to the same period last year. He pointed out that as a result of expense control and cost rationalization, total operating expenses decreased by 3.0 percent compared to the same period last year. Consequently, net operating income through the end of the third quarter of 2026 rose to 1,004.7 million Kuwaiti dinars, achieving an 11.7 percent growth rate.

He clarified that due to the increase in total operating revenues and the decrease in total operating expenses, the cost-to-income ratio improved to 30.8 percent through the end of the third quarter of 2026, down from 33.9 percent during the corresponding period last year. Financing receivables stood at approximately 23.4 billion Kuwaiti dinars at the end of the third quarter of 2026, a 7.5 percent increase compared to the end of the previous year. Total assets reached 43.8 billion Kuwaiti dinars at the end of the third quarter of 2026, a 2.4 percent increase compared to the end of the previous year.

He noted that total shareholders’ equity reached 5.7 billion Kuwaiti dinars at the end of the third quarter of the current year. Customer deposits stood at approximately 22.7 billion Kuwaiti dinars at the end of the third quarter of 2026, a 7.8 percent increase compared to the end of the previous year. The capital adequacy ratio stood at 17.22 percent, exceeding regulatory requirements, reflecting the strength of the bank’s capital base.

Al-Marzouq stated that KFH’s continued strong performance through the end of the third quarter of the current year confirms the success of the implemented strategy, the ability to achieve sustainable and balanced growth, enhance operational efficiency, and make optimal use of resources and assets, thereby consolidating the bank’s financial position and strengthening its standing in the banking sector.

He added that the sustained strong performance confirms the robustness and flexibility of KFH’s business model in dealing with economic and geopolitical changes, alongside effective risk management and adherence to the highest governance standards. He pointed out that these results reflect a clear strategic approach based on responsible growth and maximizing value for shareholders and customers.

Al-Marzouq explained that the group’s strategy looks to the future with a long-term perspective, aiming to build sustainable value and enhance the bank’s competitiveness and ability to continue growing. This is achieved through investing in business and service development, accelerating digital transformation, improving operational efficiency, and developing human capital.

He emphasized that KFH will continue to steadily implement its strategic plans, relying on its strong financial position, diversified business portfolio, and accumulated expertise, while maintaining a responsible growth approach and enhancing its role in supporting the national economy, thereby consolidating the trust the bank enjoys among its shareholders, customers, and the community.

Al-Merzouq pointed out that the developments in Kuwait’s business environment, along with supportive legislative and regulatory steps for economic and financial activity—such as the Real Estate Financing Law, the Sukuk Law, and previously the Law on Borrowing from the Future Generations Fund and the Financing and Liquidity Law—represent positive factors in enhancing the capacity of the private sector and financial institutions to grow and contribute to the path of economic development. He highlighted the importance of the Sukuk Law, as it enables the addition of a Sharia-compliant sovereign financing instrument, helps broaden the investor base locally and internationally, and builds an Islamic sovereign yield curve that supports future corporate and financial institution issuances.

Al-Merzouq emphasized KFH’s commitment to continuing support for national initiatives and projects with strategic impact, thereby strengthening integration between state institutions and the private sector, contributing to serving the national interest, and supporting sustainable development in Kuwait. He noted the implementation of several strategic community and national initiatives, such as supporting the national initiative launched by the Kuwait Fund for Arab Economic Development to establish the Kuwait Emergency Response Fund, through a financial contribution of $13 million, as well as an additional contribution of $6 million to repair damaged power stations.

He stated that KFH’s community work efforts have received high global recognition, winning the “Best Islamic Bank for Social Responsibility in the World 2026” award from Global Finance magazine, in recognition of its exceptional efforts, clear impact, and leadership in social responsibility within the markets and countries where it operates.

For his part, Khalid Al-Shamlan, CEO of KFH Group, said that the strong performance achieved by the bank through the end of the third quarter of this year (2026), accompanied by continued profit growth, confirms the operational efficiency and robustness of the Group’s business model and its ability to deliver strong and sustainable results, despite the economic and geopolitical conditions facing the region and Kuwait, supported by high operational efficiency and flexibility in responding to market changes.

Al-Shamlan added that the diversification of revenue sources and the geographic distribution of the Group’s operations, which extend to 10 countries worldwide through a network of over 600 branches, represent one of the factors supporting performance stability and revenue enhancement, alongside the bank’s continued development of its financing and credit capabilities to meet the needs of individual and corporate customers.

He confirmed that KFH continues to achieve qualitative milestones in digital banking, pointing to ongoing investment in technology and innovation aimed at enhancing customer experience, improving operational efficiency, and strengthening the ability to keep pace with rapid developments in the banking sector.

He noted that the bank has provided an integrated digital transformation model based on a clear strategic vision focused on the customer and delivering tangible operational results, highlighting the execution of more than 600 million digital transactions in one year and the provision of over 200 integrated digital services via KFHonline, which has reinforced the status of digital services as a primary banking option for customers.

He noted that the bank’s outstanding performance was also reflected in its continued accumulation of international accolades and awards, most notably its ranking as the best-performing bank in Kuwait in the “Top 100 Arab Banks” list for 2026, published by The Banker magazine. In addition, the group received Euromoney awards in the areas of wealth management, environmental, social and governance (ESG) practices, and digital banking, alongside the “Best Islamic Bank in the World” award from Global Finance magazine and the “Best Digital Bank in Kuwait” award from MEED, along with numerous other global recognitions that underscore the bank’s leading international standing.

Al-Shamlan expressed his appreciation for the Board of Directors’ support, commending the role of regulatory authorities in bolstering the banking sector. He also praised the efforts of the executive management, all employees, and all partners and stakeholders, for their pivotal role in meeting the expectations of shareholders and customers, and in sustaining Bayan Al-Khaleej’s leadership and enhancing its position locally, regionally, and globally.