KIB reports 26.6 million dinars in profits over 9 months

- Mohammed Al-Jarrah: The bank benefited from the strength of its customer base and its expertise in Islamic banking and capital markets

- Raed Bu-Khamsin: The results reflect continuous efforts to develop a more diversified and flexible business model

Kuwait International Bank (KIB) Chairman Sheikh Mohammed Al-Jarrah announced that the group achieved net profits attributable to shareholders amounting to 26.6 million Kuwaiti dinars during the nine months ended September 30, 2026, compared to 20.4 million dinars for the same period in 2025, representing a 30% growth. Earnings per share reached 13.51 fils, compared to 9.98 fils during the same period in 2025. Meanwhile, net profit attributable to shareholders for the third quarter alone reached 9 million dinars, marking a 62% increase.

Commenting on the results, Al-Jarrah stated, “The financial results achieved by KIB during the first nine months of 2026 reflect the bank’s success in sustaining growth and delivering balanced performance in a regional environment characterized by rapid developments and extended market repercussions. Thanks to our comprehensive strategy, we have managed to navigate these changes efficiently, while continuing to focus on business quality, diversifying income sources, improving operational efficiency, and prudently managing risks.”

He added that KIB continued to implement its strategic priorities during the period, leveraging the strength of its customer base and its accumulated expertise in Islamic banking and capital markets. The developments witnessed in the bank’s operations throughout the year demonstrated its ability to expand the scope of its innovative services and products, diversify its revenue and funding sources, strengthen relationships with customers and investors, and enhance its presence in capital markets at both the local and regional levels.

Regarding the group’s financial position, Al-Jarrah pointed out that total assets grew by 8% to reach 4.74 billion dinars as of September 30, 2026, compared to 4.37 billion dinars as of September 30, 2025. This growth was driven by a 269 million dinar increase, or 8%, in the financing portfolio, which reached 3.48 billion dinars compared to 3.21 billion dinars. Additionally, the financial investments portfolio, which includes high-quality sukuk, rose by 62 million dinars, or 12%, to reach approximately 582.7 million dinars, compared to approximately 520.4 million dinars as of September 30, 2025.

For his part, Vice Chairman and CEO Raed Bu-Khamsin said, “KIB’s results during the first nine months of 2026 reflect continuous efforts to develop a more diversified and flexible business model, alongside a focus on enhancing operational efficiency and improving service quality. We have continued to invest in our human and technical capabilities, and in developing solutions that respond to market changes and our customers’ needs.”

He added, “While we continue to work on strengthening our local business, the past period witnessed a notable expansion in KIB’s activity across regional capital markets, underscoring our ability to leverage our banking and investment expertise in new markets and supporting our presence as a trusted partner in Islamic financing.”

Bu-Khamsin outlined the key financial indicators for the first nine months of 2026 compared to the previous year, noting that net fee and commission income rose to 10.3 million dinars, up from 7.7 million, a 33% increase. Net investment income also increased to 4.5 million dinars from 4.3 million, a 4% growth, contributing to a 7% rise in total operating income to 69 million dinars compared to the corresponding period in 2025.

Regarding the Group’s financial center, Boukhsaim noted that customer accounts grew by 2 percent to reach $3.08 billion, compared to $3.03 billion. Total shareholders’ equity also recorded a 1 percent growth, reaching $374 million, up from $371 million. He emphasized the continued maintenance of high total capital adequacy ratios in accordance with Basel III regulations, which stood at 20.32 percent. Meanwhile, the liquidity coverage ratio reached 238.1 percent, further supporting the bank’s ability to continue executing its growth plans.

In a related context, Boukhsaim highlighted KIB’s success in September 2026 in pricing its first issuance of unsecured senior sukuk, valued at $500 million with a five-year tenor, as part of a $1.5 billion sukuk issuance program.

Boukhsaim explained that the issuance attracted strong investor demand, with total subscription orders reaching approximately $1.2 billion, equivalent to 2.4 times the size of the issuance. The sukuk were priced at a margin of 95 basis points above US Treasury yields, with an annual profit rate of 5.502 percent.

He noted that this issuance represents a significant addition to the long-term funding base, contributing to enhanced flexibility in managing liquidity and obligations. It also reflects investor confidence in the bank and its ability to access international capital markets and utilize Sharia-compliant financing instruments, thereby supporting its future growth plans.

Regionally, KIB, represented by its Islamic investment arm, Al-Dawli Invest for Investment, participated as a joint lead manager in pricing the third issuance of Saudi government-guaranteed international sukuk for the Saudi Mortgage Refinancing Company, with a total value of $2.75 billion. This supports the bank’s strategy to expand its network of relationships with international financial institutions and investors, and to continue developing its activities in debt and Islamic finance markets.

Al-Jarrah and Boukhsaim affirmed that the achieved results confirm KIB’s ability to continue implementing its strategic plans amid a changing regional environment, while maintaining a clear balance between growth, profitability, and risk management. They indicated that the priorities for the upcoming phase include growing core businesses, diversifying income sources, and improving operational efficiency, while continuing to invest in technology, enhancing customer experience, and maintaining a balanced approach to capital, liquidity, and risk management. They also expressed appreciation for the supervisory and regulatory role of the Central Bank of Kuwait, and for the pivotal role played by the Capital Markets Authority in developing Kuwait’s investment environment. They commended the efforts of the Board of Directors, the executive management, and all KIB employees, emphasizing that the achievements during the period under review reflect the integration of efforts and the continued work to build a stronger and more sustainable foundation for growth.

KIB continued to win the highest regional and international awards reflecting the efficiency of its business model and its banking leadership. It won the “Best Bank in Real Estate Banking and Real Estate Technology Innovation in Kuwait 2026” award from the Arab Bankers Union, in recognition of its leadership in providing integrated real estate banking services and its efforts in developing innovative digital solutions that enhance the experience of customers and investors. The bank was honored during the 2026 Arab Banking Excellence and Achievement Awards ceremony.

The bank won two prestigious awards from the global Islamic Finance News (IFN) organization for its Sukuk issuance from the second tranche, valued at $300 million: the “Kuwait Deal of the Year 2025” award and the “Regulatory Deal 2025” award, an achievement that underscores the significance of the issuance and the bank’s standing in Islamic capital markets.

The awards were presented during the IFN Awards ceremony held in Dubai.