Kuwait National Bank reports KWD 324.8 million in profits for the first half of 2026
- Customer deposits grew by 13.1 percent year-on-year to KD 27 billion
- Hamad Al-Bahar: Financial results reflect our ability to sustain growth despite regional and global uncertainty
- Issam Al-Saqqa: Financial indicators reflect the Group’s strong operational performance and balanced growth across business sectors
National Bank of Kuwait announced its financial results for the six-month period ended June 30, 2026, reporting net profits of KD 324.8 million ($1.1 billion), compared to KD 315.3 million ($1.0 billion) during the same period in 2025, representing a 3 percent year-on-year growth.
The bank’s net profit for the second quarter of 2026 rose to KD 189.3 million ($614.9 million), up from KD 181.2 million ($588.4 million) in the corresponding period of 2025, marking a 4.5 percent year-on-year increase.
Total assets reached KD 46.2 billion ($150.2 billion) as of the end of June 2026, an increase of 5.9 percent, while the loan and advance portfolio grew by 8.9 percent to KD 27.8 billion ($90.2 billion).
Customer deposits recorded strong growth rates, rising 13.1 percent year-on-year to KD 27 billion ($87.7 billion) by the end of June 2026. Shareholders’ equity stood at KD 4.5 billion ($14.7 billion), up by 7.1 percent.
Commenting on the financial results, Hamad Al-Bahar, Chairman of the Board of Directors of the National Bank, said: “The results for the first half of 2026 reflect the National Bank’s ability to continue achieving sustainable growth, despite ongoing global and regional uncertainty and geopolitical challenges casting a shadow over the economic landscape.”
He noted that the financial results achieved by the National Bank during the first six months of 2026 confirm the robustness and high resilience of the Group’s business model in dealing with various changes, thanks to its diversification strategy across business sectors and geographic markets, alongside its strong financial position, high levels of capitalization and liquidity, asset quality, and advanced governance and risk management systems.
Al-Bahar stated that the National Bank is working to strengthen its leading position by leveraging promising opportunities in the markets it operates in, while maintaining the highest standards of financial and operational discipline—a approach that has been one of the key factors behind the bank’s success over more than seven decades.
He emphasized that sustainability has become a core pillar of the Group’s strategy, pointing to the bank’s continued expansion of sustainable finance activities and support for initiatives transitioning toward a more sustainable economy, alongside its ongoing leading role in corporate social responsibility through launching and sponsoring developmental and community initiatives that leave a positive and lasting impact on society.
For his part, Issam Al-Saqqa, Vice Chairman and Chief Executive Officer of the National Bank Group, said: “The financial indicators for the first half of 2026 reflect the strength of the Group’s operational performance and its success in achieving balanced growth across various business sectors, supported by diversified income sources and the continued growth of core banking activities, confirming the resilience of the Group’s business model and its ability to deliver sustainable results under different economic conditions.”
Al-Saqr clarified that the bank recorded a 4.8 percent year-on-year growth in net operating revenues, rising from KD 631.4 million ($2.1 billion) in the first half of 2025 to KD 662.0 million ($2.1 billion). This growth was driven by strong performance across various business segments, sustained momentum in core banking activities, and the maintenance of high operational efficiency levels, which positively reflected on profit quality and growth sustainability.
He emphasized that investment in technology and innovation constitutes a key pillar of the group’s sustainable growth strategy, noting that NBK continues to develop its technological infrastructure and enhance its digital capabilities. These efforts contribute to improving operational efficiency, enhancing customer experience, and delivering innovative banking solutions that keep pace with the rapid developments in the financial sector.
He added that the NBK Mobile service program represents one of the main pillars of the bank’s digital ecosystem, through the continued development and provision of innovative digital features, solutions, and services that meet evolving customer needs.
Al-Saqr pointed out that the group’s international operations continued to deliver strong performance in the first half of the year, making a significant contribution to supporting revenues and profitability. This success benefited from the group’s geographic spread and diversified business activities across regional and global markets. Meanwhile, Boubyan Bank continued to strengthen its contribution to the group’s results through the growth of its business, expansion of its customer base, and development of its products and services, thereby supporting the group’s strategy of diversifying income sources and enhancing its local, regional, and global presence.
He confirmed that Weyay Bank continues to expand its customer base and enhance its digital services, leveraging its innovative banking model and focus on meeting the needs of the new generation, which supports the group’s direction toward building an integrated digital banking system.
Al-Saqr affirmed that NBK views sustainability as a strategic opportunity to enhance long-term value, explaining that the bank is working to integrate sustainability principles into its various operations and investment decisions. This supports the development of a more resilient business model capable of adapting to changes and achieving sustainable growth.
He continued: “We continue to work on improving operational efficiency, enhancing customer experience, and developing our human and technological capabilities, thereby solidifying our ability to deliver sustainable value to shareholders, customers, and the communities in which we operate.”
Regarding his expectations for the local operating environment, Al-Saqr said: “The Kuwaiti economy continues to demonstrate its resilience in the face of regional and global challenges. Despite ongoing uncertainty at both the global and regional levels, current indicators warrant cautious optimism regarding the outlook for the Kuwaiti economy, provided that geopolitical conditions stabilize.”
He added that recent economic indicators reflect an improvement in local economic activity, with bank credit continuing to grow, primarily supported by increased financing directed to the business sector. He clarified that increased oil sector production, alongside the accelerating pace of awarding development projects and rising investment spending, represent key factors that will support an improvement in the operating environment in the post-conflict phase in the region.
During the first half of the year, Al-Watani continued to reinforce its local and regional leadership by securing a number of prestigious awards from prominent global institutions, recognizing its excellence in banking performance, innovation, and the quality of services provided to customers. The bank was named “Best Bank in Kuwait 2026” by Global Finance magazine, and for the fourth consecutive year, it received the award for “Best Bank in Cash Management in Kuwait 2026” from the same publication, in recognition of its leadership in treasury and liquidity management solutions.
Al-Watani was honored with five awards from MEED magazine at the Middle East and North Africa Banking Excellence Awards 2026. These included two awards for Best Bank for Small and Medium Enterprises (SMEs) in the MENA region and in Kuwait, Best Credit Card Offerings in the region, Best Bank for Retail Banking in Kuwait, and an award for Wiyah Bank for Best Loan Offerings in the region.
Al-Watani Wealth continued to strengthen its leading position in wealth management and private banking, achieving a global milestone by winning the World’s Best Next Generation Private Banking award for 2026 from Global Finance magazine. The group also received the Best Next Generation Services award in Kuwait for 2026 from Euromoney, along with the Best High Net Worth Clients award in Kuwait for 2026, and two awards for Best Fixed Income Instruments in the Middle East and Best in Kuwait for 2026, underscoring its excellence in delivering specialized investment solutions and banking services that meet client aspirations.
- 4.8% growth in net operating income to KD 662 million on an annual basis.
- 5.9% increase in assets on an annual basis to KD 46.2 billion.
- Non-performing loans ratio stood at 1.22% of the total credit portfolio, with a coverage ratio of 256%.
