'Al-Watani': Net profits reach 324.8 million dinars in the first half of 2026
With a growth rate of 3% on an annual basis, Hamad Al-Baher stated that the results reflect the bank’s ability to continue achieving sustainable growth despite ongoing regional and global uncertainty.
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% annual growth.
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Net profits rose during the second quarter of 2026 to KD 189.3 million ($614.9 million), compared to KD 181.2 million ($588.4 million) in the corresponding period last year, achieving an annual growth of 4.5%.
Total assets reached KD 46.2 billion ($150.2 billion) as of the end of June 2026, an increase of 5.9% compared to the same period last year, while the total loan and advance portfolio grew by 8.9% to KD 27.8 billion ($90 billion).
Customer deposits continued to record strong growth rates, rising by 13.1% annually to KD 27.0 billion ($87.7 billion) at the end of June 2026, while shareholders’ equity stood at KD 4.5 billion ($14.7 billion), an increase of 7.1% compared to the end of June 2025.
Commenting on the financial results, Hamad Al-Baher, Chairman of the Board of Directors of National Bank of Kuwait, said: “The results of the first half of 2026 reflect National Bank of Kuwait’s ability to continue achieving sustainable growth, despite ongoing global and regional uncertainty and geopolitical challenges casting a shadow over the economic landscape.”
He clarified that the financial results achieved by “Al-Watani” 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-Baher noted that “Al-Watani” is working to strengthen its leading position by leveraging promising opportunities in the markets it operates in, while maintaining the highest levels 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 key pillar of the Group’s strategy, pointing to the bank’s continued expansion of sustainable finance activities and support for initiatives contributing to the transition toward a more sustainable economy, alongside its continued leading role in corporate social responsibility through launching and sponsoring developmental and community initiatives that leave a positive and lasting impact on society.
Balanced Growth
For his part, Essam Al-Saqer, Vice Chairman and Chief Executive Officer of National Bank of Kuwait 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 various economic conditions.”
He clarified that the bank recorded a 4.8% year-on-year growth in net operating income, rising from KD 631.4 million (USD 2.1 billion) in the first half of 2025 to KD 662.0 million (USD 2.1 billion) by the end of June 2026. 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 impacted earnings quality and growth sustainability.
Al-Saqer emphasized that investment in technology and innovation constitutes a key pillar of the group’s strategy for sustainable growth. He noted that National Bank of Kuwait continues to develop its technological infrastructure and enhance its digital capabilities, contributing to improved operational efficiency, enhanced customer experience, and the delivery of innovative banking solutions that keep pace with rapid developments in the financial sector.
He added that the National Mobile Banking 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 while enhancing usability and flexibility.
Al-Saqer pointed out that the group’s international operations continued to demonstrate strong performance and make a significant contribution to supporting revenues and profitability during the first half of 2026. This success leveraged 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 business growth, expansion of its customer base, and development of its products and services, thereby supporting the group’s strategy of diversifying income sources and strengthening its local, regional, and global presence.
Integrated Investment Solutions
Al-Saqer explained that National Wealths Group also continued to deliver outstanding performance, consolidating its leading position locally and regionally in wealth management and private banking services. The group provides integrated investment solutions that meet the needs of high-net-worth individuals across various markets.
He confirmed that Weyay Bank continues to expand its customer base and enhance its digital services, benefiting from its innovative banking model and focus on meeting the needs of the new generation, thereby supporting the group’s direction toward building an integrated digital banking ecosystem.
Al-Saqer affirmed that National Bank of Kuwait views sustainability as a strategic opportunity to enhance long-term value. He stated that the bank is working to integrate sustainability principles into its various operations and investment decisions, supporting the development of a more resilient business model capable of adapting to changes and achieving sustainable growth.
Al-Saqer added: “We continue to work on improving operational efficiency, enhancing the 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.”
Operating Environment
Regarding his expectations for the local operating environment, Al-Saqer 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 driven by increased financing directed to the business sector. He clarified that the rise in oil sector production, alongside the acceleration in the awarding of development projects and higher investment spending, represent key factors that will support an improvement in the operating environment in the post-conflict phase in the region.
Prestigious global awards for National Bank of Kuwait
During the first half of 2026, National Bank of Kuwait continued to strengthen its leadership locally and regionally by receiving a number of prestigious awards from leading global institutions, recognizing its excellence in banking performance, innovation, and the quality of services provided to customers.
The bank won the “Best Bank in Kuwait 2026” award from Global Finance magazine. It also secured the “Best Cash Management Bank in Kuwait 2026” award from the same publication for the fourth consecutive year, in recognition of its leadership in treasury and liquidity management solutions.
National Bank of Kuwait was also honored with five awards from MEED magazine at the Middle East and North Africa Banking Excellence Awards 2026. These included awards for Best Bank for Small and Medium Enterprises in the MENA region and Kuwait, Best Credit Card Offerings in the region, and Best Retail Bank in Kuwait.
