Burqan Bank raises revenues to 201 million dinars
Burqan Bank announced revenues of 201 million dinars, with net profits declining due to costs in Turkey, while loans in Kuwait grew.
Translated by Qiyas from الوسط — Original source
Bank of Kuwait and the Middle East (Boubyan) announced total revenues of 201 million Kuwaiti dinars during the first nine months of 2026, compared to 192 million dinars in the same period last year. Net profit attributable to shareholders declined to 22 million dinars, down from 32 million, impacted by higher operating expenses and the effects of applying hyperinflation accounting to the group’s operations in Turkey.
The bank explained that revenue growth was supported by an increase in net interest income to 137 million dinars, up from 128 million, alongside continued growth in fee and commission income, while the net interest margin remained stable at 2.2%. Operating profit amounted to 65 million dinars, compared to 76 million in the same period of 2025.
Credit provisions remained largely stable year-on-year, with the cost of credit declining to 50 basis points, down from 60 basis points. The bank continued to apply a disciplined approach to risk management and maintained coverage levels.
Regarding its financial position, the bank’s total assets rose to 9.4 billion dinars as of September 30, 2026, compared to 8.9 billion dinars in the corresponding period last year. Total loans and advances grew by 8% to 5.1 billion dinars, driven by a 9% expansion in the credit portfolio in Kuwait.
Commenting on the group’s financial position, Sheikh Abdullah Nasser Al-Sabah stated: “Our growth approach is based on prudent risk management, sound governance, and responsible capital management. Maintaining the strength of our balance sheet is essential to our ability to navigate market changes and seize strategic opportunities.”
Speaking about the group’s operational performance and strategic priorities, Tony Daher, Chief Executive Officer of Boubyan Bank Group, said: “Our performance during the first nine months of the year reflects continued momentum in our core banking activities, supported by growth in net interest income, sustained strength in fee and commission income, and growth in loan and deposit portfolios.”
