Boubyan Bank Earns 80.7 Million KD in 9 Months, Up 4%

Boubyan Bank announced its financial results for the nine-month period ended September 30, 2026, reporting net profits of 80.7 million dinars, a 4% increase compared to the same period last year, and earnings per share of 16 fils.

During the same period, the bank’s assets rose to 11 billion dinars, an 8% year-on-year increase, while its financing portfolio reached 8.4 billion dinars, up 10%. Operating profits also grew by 9% to reach 110 million dinars.

Commenting on the financial results, Abdulaziz Abdullah Al-Shaikh, Chairman of the Board of Directors at Boubyan, stated that the announced results and indicators reflect the bank’s ability to adapt and respond professionally, dynamically, and flexibly to various changing conditions, while reinforcing its sustainable growth strategy. This is driven by a distinctive business model that has enabled the bank to capitalize on all available opportunities, with a strong focus on optimal resource management to boost profitability rates and adhere to the highest standards of operational efficiency.

Al-Shaikh added that Boubyan focuses on the quality and sustainability of its growth by continuing to develop services and enhance the customer experience across various channels, alongside developing wealth management solutions that align with the diverse needs and aspirations of its clients. He noted that the local, regional, and global achievements and recognitions the bank has secured underscore its entrenched presence in the fields of innovation, digital banking, and Islamic finance.

He clarified that the issuance of Mudaraba Sukuk valued at 90 million dinars—the bank’s first local currency Sukuk issuance, within the first additional tranche of capital—represents a significant addition to financing and investment instruments in the local market. This move supports the efficiency of its capital structure and future growth plans, confirming investors’ confidence in the bank’s strong financial position and its standing in the capital markets, while serving as an incentive to continue developing performance and enhancing growth.

Concluding his remarks, Al-Shaikh said, “On behalf of the Board of Directors, I extend my gratitude to our shareholders, clients, and investors for their continued trust, and to the executive management and human resources of the bank for their efforts and commitment. Boubyan will continue to reinforce the principles of governance and prudent management, working to achieve sustainable growth and strengthen its position as one of the leading Islamic banking institutions in Kuwait and the region.”

For his part, Adel Al-Majed, Vice Chairman and Chief Executive Officer of the Boubyan Group, stated that the bank continues to develop its institutional capabilities and invest in human capital, while enhancing operational efficiency. This is happening concurrently with the development of services and solutions offered to various customer segments, supporting business development, driving performance efficiency, and keeping pace with rapid market developments.

Al-Majed added that Boubyan is proceeding with its institutional transformation strategy by leveraging artificial intelligence technologies to develop its business model and improve the efficiency of various departments, thereby supporting the establishment of a technology-backed banking institution. This is accompanied by investments in developing staff skills and enhancing future readiness, as the bank implements specialized training programs for its executive leadership to deepen their knowledge of applications and explore ways to utilize them in the work environment, within governance and data protection frameworks.

Regarding the diversification of funding sources, he noted that the bank has completed a syndicated financing facility compliant with Islamic Sharia principles, valued at $300 million for a period of three years, led by HSBC Bank and involving several major Chinese banks. This step enhances Boubyan’s presence in global funding markets.

He clarified that the bank is working to expand its strategic partnerships with entities from various fields and sectors, enabling its customers to benefit from offers and advantages, while continuing to fulfill its social role through targeted events and initiatives that support different sectors and segments, reflecting its commitment to serving the community.

Al-Majid pointed out that Boubyan strengthens its role as a partner for small and medium-sized enterprise owners by enhancing their connectivity with a network of strategic partners and specialized service providers, which support various aspects of their businesses and keep pace with their evolving needs. Furthermore, the bank is expanding its strategic partnerships with entities from diverse fields and sectors, allowing its customers to benefit from a variety of advantages and services.

He emphasized that Boubyan will continue to focus on key growth drivers and invest in innovation, technology, and human capital, thereby supporting the bank’s sustainable performance, enhancing its competitiveness, and solidifying its position as a bank capable of adapting to changes and creating new growth opportunities.

Boubyan continues to strengthen its leading presence at the local, regional, and global levels, having received numerous prestigious awards from Global Finance and Euromoney institutions across various fields, as international recognition of the comprehensiveness of the banking model the bank adopts in developing its business and its success in building an integrated Islamic financial institution.

Adel Al-Majid recently participated in a closed banking panel hosted by the Central Bank of Kuwait in collaboration with Global Finance magazine, to discuss the future of the banking sector and the Kuwaiti economy, as well as the key transformations impacting the future of the banking industry and the priorities needed to continue enhancing the resilience and stability of the sector at global, regional, and local levels.

Boubyan continues to invest in national talent and develop their skills through specialized workshops and lectures organized in collaboration with universities and academic institutions. The bank also strengthens its partnerships with higher education institutions and facilitates knowledge exchange with them, contributing to preparing and equipping young professionals for the labor market and imparting skills that align with the financial sector and support their career paths.