NBK Reports KWD 481.7 Million Net Profit in First Nine Months

Up by 3.1% on an annual basis

Hamad Al-Bahar:

The results reflect the resilience of our business model and its ability to deliver strong performance under various conditions

"Al-Watani" continues its leadership, supported by a strong balance sheet, comfortable liquidity, and solid assets

We continue to integrate sustainability standards into our initiatives, operations, and investment decisions

Issam Al-Saqer:

Indicators confirm our ability to achieve balanced and sustainable growth despite challenges in the business environment

"Al-Watani" relies on a strong position that qualifies it to achieve further accomplishments and enhance its market leadership

Our relationships with the public and private sectors reinforce our position at the forefront of banking institutions supporting the development plan

National Bank of Kuwait announced its financial results for the nine months ended September 30, 2026, achieving net profits of KD 481.7 million, compared to KD 467.4 million in the same period of 2025, representing growth of 3.1%. Total assets as of the end of September 2026 rose by 4.5% on an annual basis to KD 46.9 billion, while total loans and advances grew by 8.2% on an annual basis to reach KD 28.2 billion.

Customer deposits at the end of the first nine months of 2026 also increased by 13.5% on an annual basis to KD 27.9 billion, while total shareholders’ equity reached KD 4.6 billion, up 5.1% compared to the same period last year.

Resilience and Diversification

Hamad Al-Bahar, Chairman of the Board of Directors of National Bank of Kuwait Group, said: "The results for the first nine months of 2026 reflect the resilience of the Group’s business model and its ability to deliver strong and sustainable performance under various economic conditions, based on diversified income sources, a strong financial position, and strategic flexibility." He clarified that the Bank continued to strengthen its position as a leading financial institution in the region during the third quarter, supported by a strong balance sheet, high capitalization ratios, comfortable liquidity levels, and solid asset quality. He emphasized the continued reinforcement of sustainability standards across "Al-Watani’s" various operations and investment decisions to support sustainable growth and create long-term value for shareholders.

Al-Bahar confirmed the Bank’s continued support for national and community initiatives, noting "Al-Watani’s" recent contribution of USD 5 million to the Kuwait Emergency Response Fund, in addition to providing KD 1.3 million to develop facilities at Kuwait International Airport, and KD 1 million for the restoration and rehabilitation of land border crossings in Abdali, Salwa, and Nuwaiseeb.

He pointed to "Al-Watani’s" continued leadership in the field of corporate social responsibility, highlighting its win of the "Best Bank in the Middle East for Corporate Social Responsibility 2026" award within the Euromoney Awards for Excellence.

Balanced Growth

For his part, Issam Al-Saqer, Vice Chairman and Chief Executive Officer of National Bank of Kuwait Group, said: "The financial indicators recorded by the Group during the nine months ended September 30, 2026, confirm its ability to achieve balanced and sustainable growth despite the challenges facing the business environment regionally and globally."

Al-Saqer revealed that net operating income grew by 3.8% on an annual basis to reach KD 1.0 billion, supported by momentum in core banking activities and the positive contribution of the Group’s affiliated activities and sectors to revenue generation, reflecting the success of the Bank’s strategy based on diversifying income sources and leveraging available opportunities in the markets it operates in.

He added that external operations continued to play a key role in diversifying the group’s performance, leveraging Al-Watani’s broad geographical presence in regional and global markets. This enhanced the diversity of income sources and strengthened business resilience in the face of economic changes. Additionally, Bank Boubyan, the group’s Islamic banking arm, continued to make a strong contribution to revenue and profitability growth, supported by its leading position in the Islamic banking sector.

Al-Saqer clarified that the group made tangible progress in implementing its strategy aimed at enhancing geographical diversification and expanding revenue sources, benefiting from the integration of its conventional and Islamic banking activities with wealth management operations.

He noted that, in line with Al-Watani’s commitment to strengthening its regional and international presence, the bank recently opened a new branch at the Qatar Financial Centre, supporting its expansion plans and enhancing customer service in the Qatari market.

Digital Transformation and Innovation

Al-Saqer stated that Al-Watani continued to reaffirm its leadership in digital banking services during the third quarter by launching innovative solutions that enhance customer experience and improve operational efficiency. He explained that, as part of its digital transformation strategy, the bank expanded its integrated digital services to include more personal banking products. It launched the first fully digital loan in Kuwait, enabled the opening of children’s accounts, and allowed customers to complete all credit card application procedures digitally and add them directly to digital wallets via the Al-Watani Mobile app. He emphasized that these initiatives align with Al-Watani’s vision to redesign the customer journey and deliver a more seamless banking experience, reinforcing its position as a leading financial institution in digital innovation.

Al-Saqer also confirmed that Al-Watani has made notable progress in achieving its sustainability and sustainable finance goals. He explained that the group focuses on creating long-term value for stakeholders by developing responsible financing solutions and enhancing the positive impact of its operations on the economy and society.

He concluded: “At Al-Watani, we rely on a solid capital base and strong liquidity levels, which position us to capitalize on future growth opportunities and strengthen our market leadership. Our strong relationships with both the public and private sectors continue to reinforce our position at the forefront of banking institutions supporting Kuwait’s development plans.”