MSCI raises National Bank's sustainability rating to AA

In a new confirmation of its leadership in sustainability and responsible banking, MSCI, the global ratings agency, upgraded the Environmental, Social, and Governance (ESG) rating of National Bank of Kuwait (NBK) from A to AA. This move elevates the bank from the “Average” category to the “Leader” category, which includes the most advanced institutions globally in managing sustainability issues and integrating them into their strategies and operational processes.

NBK is the first Kuwaiti bank and currently the only one to receive an AA rating. This achievement gains additional significance as the new rating places NBK among just six banks in the Gulf Cooperation Council (GCC) countries to hold this classification, reflecting the bank’s advanced position in managing sustainability and governance issues compared to its international peers, and underscoring its success in adopting global best practices in environmental, social, and governance areas.

This rating caps a long journey of organized institutional work undertaken by the bank over the past years, through integrating sustainability considerations into various aspects of business, financing, investment, and risk management, in line with global best practices and standards. It also confirms the robustness of the institutional framework developed by the bank to support responsible growth and create sustainable value for all stakeholders.

The MSCI decision reflects the growing appreciation for the bank’s approach in several key areas, including sustainable and green financing, applying sustainability standards to financing activities, enhancing due diligence processes and managing environmental and social risks, analyzing climate-related risks, as well as protecting data privacy and information security, strengthening customer protection, and fostering a culture of business ethics and corporate transparency.

This rating also confirms the bank’s success in developing an integrated sustainability system based on integrating environmental, social, and governance considerations into various aspects of business, contributing to enhancing the bank’s resilience and its ability to create long-term sustainable value for all stakeholders.

This positive assessment is based on a series of achievements the bank has made in the field of sustainability in recent periods, with continued progress in implementing the bank’s long-term goals. The value of sustainable assets and financing reached approximately $5.92 billion, on track toward its target of $10 billion by 2030.

The bank also continued its efforts to reduce its environmental footprint, recording a 37.3% decrease in operational emissions compared to the 2021 baseline, alongside strengthening climate risk management practices and enhancing disclosure and transparency in line with regulatory requirements and the growing expectations of investors and stakeholders.

Sustainable loans at the group level reached $3.06 billion in 2025, a 23% increase compared to $2.48 billion in 2024.

On the social front, the bank continued its investment in human capital and the development of national competencies, recording more than 83,000 training hours for its employees in Kuwait during 2025, reflecting its commitment to building a work environment based on continuous learning and the development of skills and leadership capabilities.

On this occasion, Amr Hanna, Head of Communications at the Group, said: “The upgrade of NBK’s rating to AA by MSCI represents a significant milestone in our journey to strengthen sustainability and consolidate its position as a core component of the bank’s strategy and operating model. More importantly, it constitutes an independent international recognition of the progress we have made in developing governance practices, risk management, responsible finance, and enhancing transparency at the institutional level.”

Hanna added: “We are proud to be the first Kuwaiti bank to receive this rating, an achievement that reflects the collective efforts of the various departments and teams working within the bank. The bank’s professional ecosystem has helped embed a corporate culture that makes sustainability an integral part of decision-making processes.”

Hanna emphasized that the bank will continue to build on this achievement by developing sustainable finance initiatives, strengthening the management of climate, environmental, and social risks, and raising transparency and disclosure standards, thereby supporting its role in advancing sustainable development and creating long-term positive impact for the economy and society.

This achievement adds to NBK’s distinguished record of international recognitions, reflecting the success of its strategy in embedding responsible banking practices and reinforcing its standing among financial institutions most committed to sustainability standards at both the regional and international levels.

The MSCI rating upgrade adds a qualitative dimension to a long series of international awards and recognitions that have crowned NBK’s sustainability journey over the past years, including honors from leading global institutions in recognition of its efforts in sustainable finance, corporate governance, risk management, and social responsibility. This sustained momentum underscores the bank’s position as a regional reference in responsible banking, and its ability to align financial growth with positive and sustainable impacts on the economy, society, and the environment.