KIB Group reports 26.6 million KD net profit in first nine months

Recorded a 30% growth, with earnings per share reaching 13.5 fils

Mohammed Al-Jarrah: Continuous growth and balanced performance in a regional environment characterized by rapid developments

Sheikh Mohammed Jarrah Al-Sabah, Chairman of the Board of Directors of Kuwait International Bank (KIB), announced that the Group achieved net profits attributable to shareholders amounting to 26.6 million Kuwaiti Dinars for the nine months ended September 30, 2026, compared to profits of 20.4 million Kuwaiti Dinars for the same period in 2025, representing a growth rate of 30%. 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 approximately 9 million Kuwaiti Dinars, representing a growth rate of 62%.

In his comments, Al-Jarrah stated: "The financial results achieved by KIB during the first nine months of 2026 reflect the Bank’s success in continuing growth and achieving balanced performance in a regional environment marked by rapid developments and extended repercussions on markets. Thanks to our comprehensive strategy, we have managed to handle these changes efficiently, while continuing to focus on business quality, diversifying income sources, improving operational efficiency, and managing risks prudently."

Strategic Priority

He added: "KIB continued to execute 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 during the year also reflected its ability to expand the scope of its innovative services and products, increase the diversity of its revenue and financing sources, strengthen relationships with customers and investors, and expand 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 Kuwaiti Dinars as of September 30, 2026, compared to 4.37 billion Kuwaiti Dinars as of September 30, 2025. This growth was driven by a rise in the financing portfolio by 269 million Kuwaiti Dinars, representing an 8% growth rate, to reach 3.48 billion Kuwaiti Dinars, compared to 3.21 billion Kuwaiti Dinars in the same period last year. Additionally, the financial investments portfolio, which includes high-quality Sukuk, increased by 62 million Kuwaiti Dinars, or 12%, to reach approximately 582.7 million Kuwaiti Dinars as of September 30, 2026, compared to approximately 520.4 million Kuwaiti Dinars as of September 30, 2025.

More Diversified Business Model

For his part, Vice Chairman and Chief Executive Officer Raed Jawad Bu-Khamseen said: "The results achieved by KIB during the first nine months of this year 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 working to strengthen our local business, the past period witnessed a notable expansion in KIB’s activities 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."

Growth in Key Financial Indicators

Al-Bukhamseen outlined the key financial indicators for the first nine months of 2026 compared to the same period last year. Net fee and commission income rose by 33% to reach 10.3 million Kuwaiti dinars, up from 7.7 million Kuwaiti dinars. Net investment income also increased by 4% to 4.5 million Kuwaiti dinars, compared to 4.3 million Kuwaiti dinars. These gains contributed to a 7% growth in total operating income, which reached 69 million Kuwaiti dinars for the first nine months of 2026, compared to the same period in 2025.

Regarding the Group’s financial position, Al-Bukhamseen noted that customer deposits grew by 2% to reach 3.08 billion Kuwaiti dinars as of September 30, 2026, up from 3.03 billion Kuwaiti dinars as of September 30, 2025. Total shareholders’ equity also grew by 1%, reaching 374 million Kuwaiti dinars as of September 30, 2026, compared to 371 million Kuwaiti dinars as of September 30, 2025. He emphasized the bank’s continued maintenance of high total capital adequacy ratios in accordance with Basel III regulations, which stood at 20.32% as of September 30, 2026. The liquidity coverage ratio reached 238.1% as of September 30, 2026, further supporting the bank’s ability to continue executing its growth plans.

Sukuk worth $500 million

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

He explained that the issuance attracted strong investor demand, with total subscription orders reaching approximately $1.2 billion USD, equivalent to 2.4 times the size of the issuance. The sukuk were priced at a margin of 95 basis points above the yield on US Treasury bonds, with an annual profit rate of 5.502%. He noted that this issuance represents a significant addition to the long-term funding base, enhancing liquidity and liability management flexibility. It also reflects investor confidence in the bank’s ability to access international capital markets and utilize Sharia-compliant financing instruments, thereby supporting its future growth plans.

Regional presence, achievements, and awards

Regionally, KIB, represented by its Islamic investment arm, KIB Invest, participated as a joint lead manager in the pricing of the third issuance of international sukuk guaranteed by the Saudi government, on behalf of the Saudi Real Estate Refinancing Company, with a total value of $2.75 billion USD. 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.

Banking leadership

KIB continued to garner the highest regional and international awards, reflecting the efficiency of its business model and its banking leadership. The bank won the “Best Bank in Real Estate Banking and Real Estate Technology Innovation in Kuwait for 2026” award from the International Union of Arab Bankers, in recognition of its leadership in providing integrated real estate banking services and its efforts to develop innovative digital solutions that enhance the experience of customers and investors. The award was presented during the 2026 Arab Banking Excellence and Achievement Awards ceremony. Additionally, the bank won two prestigious awards from Global Islamic Finance News (IFN) for its second tranche of sukuk valued at USD 300 million: the “Kuwait Deal of the Year 2025” and the “Regulatory Deal of the Year 2025.” This achievement underscores the significance of the issuance and the bank’s strong position in Islamic capital markets. The two awards were presented at the IFN Awards ceremony held in Dubai.

A Continuous Strategy for Growth and Sustainability

Al-Jarrah and Bu-Khamsin affirmed that the results achieved during the first nine months of 2026 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 noted that priorities for the coming phase include growing core businesses, diversifying income sources, and improving operational efficiency, while continuing to invest in technology, enhancing the customer experience, and maintaining a balanced approach to capital, liquidity, and risk management.

In conclusion, Al-Jarrah and Bu-Khamsin expressed their appreciation for the regulatory and supervisory 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 also 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.