Al Ahli posts 54.19 million KD profit in 9 months

The Kuwait Finance House (KFH) Group announced its financial results for the first nine months of 2026, achieving growth in its key financial indicators, with net profit attributable to shareholders reaching KD 54.19 million, representing a 16.2% increase compared to the same period in 2025. The Group continued to strengthen its profitability, with earnings per share growing by 18% to 17.6 fils. This improvement was supported by effective cost management and enhanced operational efficiency, bringing the cost-to-income ratio down to 43.47%. Meanwhile, operating income rose by 7.51% to KD 177.50 million, while operating profits increased by 5.55% to KD 100.34 million. The loan and advance portfolio reached KD 5.03 billion, reflecting a 5% growth, while total customer deposits amounted to KD 4.30 billion. Total assets grew by 6.4% to KD 7.52 billion. Non-performing loans (NPLs) continued to decline to 1.19%, while the provision coverage ratio stood at 355%, reflecting the Group’s robust risk management framework and conservative underwriting approach.

In parallel, the Group maintained a strong capital position, with a Capital Adequacy Ratio (CAR) of 17.25%, while shareholders’ equity increased by 6.6% to KD 700.27 million.

Commenting on the results, Talal Mohammad Redha Al-Bahbahani, Chairman of the Board of Directors of KFH Group, stated that the positive financial indicators reflect the Group’s continued ability to successfully navigate various challenges, thanks to its conservative risk management model, which ensures the continuity of services and operational activities at the highest standards. He noted that the Group’s success in achieving growth rates in financial indicators again is a result of the effective implementation of its strategy, operational execution, and adaptation to various changes, turning challenges into promising opportunities. This is achieved through a business model that combines prudence with responsiveness to developments, reinforcing the Group’s position as a trusted partner for all customer segments and stakeholders in the Kuwaiti, Egyptian, and UAE markets.

He highlighted that the figures demonstrate the Group’s strong financial position, high liquidity, robust capital buffers, and solid capital base, which have been instrumental in achieving balanced growth and sustainable operational stability. He emphasized the Group’s commitment to creating added value for shareholders and customers by meeting their aspirations through innovative banking services and advanced financial solutions.

Mr. Al-Bahbahani reaffirmed KFH Group’s commitment to continuing a prudent policy that enhances asset quality and supports profit sustainability, alongside ongoing digital transformation plans and the development of new financing solutions that contribute to supporting stakeholders’ efforts in Kuwait to achieve the desired development goals under Kuwait Vision 2035.

Regarding capital increase, Mr. Al-Bahbahani noted that KFH Group continues to work on strengthening its financial position and confirmed its full readiness to seize diverse opportunities. He stated that the Extraordinary General Assembly granted approval in September to increase the authorized capital to KD 600 million. Additionally, regulatory approvals were obtained in October to increase the bank’s issued and paid-up capital by a total of KD 150 million, comprising KD 75 million in par value and KD 75 million in share premium.

This will be achieved through the issuance of 750 million shares at an offering price of 200 fils per share, comprising 100 fils of nominal value plus 100 fils of share premium, marking a fundamental turning point that supports the Group’s readiness to transition to a new phase of growth, expansion, and capacity development. He added that this measure provides the Bank with long-term flexibility and strength to support its long-term strategy, and prepares it to increase its capital base as the Group’s business volume grows, thereby confirming its preparedness during the preparation and implementation of its new five-year plan, and enabling it to respond to any future capital needs.

Global Trust: Bhebhani stated that the Group has continued to earn the trust of global institutions, as evidenced by maintaining a high credit rating of A from Fitch Ratings and A2 from Moody’s. This underscores the solidity of its financial position and its ability to face various challenges and meet the requirements of stakeholders in evaluating performance, regulatory indicators, and operations within Kuwait’s banking sector. He further highlighted that the Group has won additional global awards in recognition of its outstanding performance, revealing that it received four awards from Global Finance magazine and two from Global Brands magazine, along with other titles since the beginning of the year, honoring its excellence in digital services, call center operations, and governance.

Bhebhani thanked the Board of Directors, the executive management, and all employees for their efforts and contributions to the success of the National Bank of Kuwait Group’s plans and for elevating its leading position in the banking sector. He praised the continuous support provided to the Group by all regulatory authorities in Kuwait, the Arab Republic of Egypt, and the United Arab Emirates, and their steadfast commitment to developing the banking sector.

Efficiency of the Model: For his part, Jelle Jan van der Toel, Chief Executive Officer of the National Bank of Kuwait Group, stated that the results for the first nine months of 2026 confirm the efficiency of the Group’s business model and its firm commitment to an approach based on innovation, digital transformation, and sustainable investment. He noted that growth is the result of proper planning and meticulous execution of initiatives across various departments, and the provision of innovative banking services to enhance customer experience and improve operational efficiency.

He viewed these results as stemming from a prudent risk management approach, maintaining the solidity of asset quality and the strength of financial buffers, applying the latest governance standards, and continuing innovation to deliver a banking model that anticipates customer expectations and ensures increasing returns for shareholders in the long term.

Comprehensive Development: Van der Toel revealed the continuation of the plan to renovate National Bank of Kuwait branches in various governorates of Kuwait, with the latest renovations in the areas of Mansourya, Shuwaikh, and Farwaniya, under a policy of unifying the branches’ visual identity, and providing the latest devices, technologies, and banking systems. He explained that these efforts contribute to increasing the satisfaction of existing customers and attracting new segments, thereby consolidating the Bank’s leading competitive position. He clarified that the Bank continues to develop its mobile application and launch more digital solutions to carry out various transactions around the clock, adhering to the highest levels of security and reliability.

Van der Tol emphasized that the true driver of plan success is human capital, highlighting the bank’s continued investment in empowering employees, developing their skills, and enhancing their innovation capabilities. He pointed to numerous training programs that Kuwait National Bank continues to launch, including specialized courses on credit analysis and artificial intelligence, among others, and the provision of a work environment that encourages solution innovation and keeps pace with developments in the banking industry. This approach strengthens employee loyalty and consolidates the bank’s position among the top employers in the local banking sector. He further noted the ongoing efforts to increase and reinforce trust among all customer segments in Kuwait National Bank by continuously launching modern solutions and exclusive offers across various sectors to meet their aspirations and attract them to choose the bank as their preferred option for conducting their financial and banking transactions.

Sustainability and Social Responsibility: He highlighted that strong financial performance is always accompanied by a firm commitment to environmental, social, and governance (ESG) sustainability. He referred to the issuance of the Group’s annual sustainability report, which was made available in Arabic for the first time on the bank’s website, as well as the enhancement of the corporate social responsibility program through the support and sponsorship of numerous sports, cultural, educational, health, environmental, and humanitarian events and activities, in line with the bank’s national and responsible role in achieving the desired local development.

At the end of his statement, Van der Tol revealed the bank’s continued support for the “Let’s Be Aware” campaign and the dissemination of its diverse awareness content across the bank’s various electronic platforms and within its branches.

Key Indicators for the First Nine Months:

- Operating profits rose by 5.55% to KD 100.34 million

- Earnings per share grew to 17.6 fils from 14.9 fils

- Cost-to-income ratio reached 43.47%

- Non-performing loans were maintained at a low level of 1.19%

- Provision coverage ratio strengthened to 355%

- Strong credit ratings were maintained from both Fitch (A) and Moody’s (A2)