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Kuwait: NBK Reports KD 467.4 Million in Net Profit for 9M2025
22.10.2025National Bank of Kuwait (NBK) has announced its financial results for the nine-month period ended 30 September 2025, reporting a net profit of KD 467.4 million (USD 1.53 billion), compared to KD 457.0 million (USD 1.50 billion) for the corresponding period in 2024, marking a year-on-year growth of 2.3%.
The Bank reported KD 592.5 million (USD 1.9 billion) in profit before tax for the first nine-months of 2025, marking a 11.3% increase compared to KD 532.2 million (USD 1.7 billion) in the corresponding period of 2024.
As of the end of September 2025, total assets rose by 14.7% year-on-year to KD 44.9 billion (USD 147.2 billion), while customer loans and advances grew by 12.5% year-on-year, reaching KD 26.1 billion (USD 85.4 billion).
Customer deposits grew by 9.7%, totaling KD 24.6 billion (USD 80.6 billion) by the end of September 2025. Meanwhile, shareholders’ equity reached KD 4.4 billion (USD 14.5 billion), reflecting a growth of 11.0% year-on-year.
Balanced Growth
Commenting on the Bank's 9M2025 financial results, Mr. Hamad Al-Bahar, NBK Group Chairman stated: “Amid a challenging global economic environment, NBK continues to strengthen its position as a leading financial institution, delivering solid performance, driven by balanced growth across its key business segments and supported by a resilient operating strategy.”
Al-Bahar stated that NBK’s financial indicators for the first nine-months of 2025 reflect the Bank’s robust financial position, supported by a strong balance sheet, solid capitalization, ample liquidity, and high asset quality.
He highlighted that the recent opening of the Shuwaikh Beach Development and Beautification Project, funded by NBK, further reinforces the Bank’s leadership as the largest contributor to social responsibility in Kuwait. The project also underscores NBK’s enduring commitment to supporting national initiatives that drive sustainable development, contributing to the advancement of Kuwait Vision 2035.
Al-Bahar stated that, as part of NBK’s unwavering commitment to a sustainable financial future, the Bank launched several sustainability initiatives in 2025 while continuing to align operations with ESG standards; thereby strengthening NBK’s position as a responsible and sustainable financial institution.
Growth Trajectory
Meanwhile, Mr. Isam J. Al-Sager, Vice Chairman and Group CEO of the National Bank of Kuwait (NBK), said: “NBK’s financial results for the first nine-months of 2025 underscore its strong resilience and ability to navigate shifting economic cycles amid global volatility, trade tensions, escalating tariffs, and a downward trend in interest rates. The Bank has maintained its solid growth momentum, supported by a resilient business model, a well-diversified portfolio, strategic investments, and prudent risk management practices.”
Al-Sager stated that NBK delivered an outstanding operational performance during the nine-month period ended 30 September 2025, guided by a clear strategic vision; noting that net operating income during the period rose by 4.1% year-on-year to reach KWD 969.0 million (USD 3.2 billion).
He emphasized that the International Banking Group (IBG) remains a cornerstone of the Bank’s operational excellence, consistently driving strong performance across regional and international markets, supported by an integrated network and sophisticated banking services that are tailored to meet the evolving needs of clients across its diverse geographies.
Al-Sager stressed that Boubyan Bank, the Islamic arm of NBK Group, continues to contribute significantly to the Group’s revenues and net profits. He also noted that NBK Wealth endorsed its position as the leading wealth management firm in Kuwait and one of the key players in the region, offering a comprehensive suite of private banking, investment management, and advisory services through a globally integrated operational network.
Furthermore, Al-Sager emphasized that investment in technology and innovation remains the cornerstone of NBK’s future growth strategy, highlighting the Bank’s commitment to further developing its digital infrastructure and expanding the range of smart services to deliver a seamless and secure banking experience.
He explained that, as part of the Group’s commitment to digital transformation, NBK continued to deliver an advanced digital banking experience during the first nine-months of 2025, underpinned by innovative solutions that align with customers’ aspirations and tailored to the evolving market dynamics. He highlighted that the Bank recently launched a suite of carefully designed digital products and services, further enhancing its competitiveness domestically and across the region.
The Operating Environment
Regarding the operational environment in Kuwait, Al-Sager stated: “The economic landscape domestically witnessed remarkable developments in recent months. Capital spending on development projects tripled in the first half of fiscal year 2025–2026 compared to the same period last year. This reflects the government’s accelerated efforts to execute and advance against its development agenda; reinforcing confidence in the local economy and opening broader opportunities for the private sector to engage in new development partnerships.”
Al-Sager highlighted indicators pointing to an improved local operating environment, including an accelerated pace of project activity in Kuwait, with anticipated contract awards for strategic projects such as the third phase of Mubarak Al-Kabeer Port and the fourth phase of the Al-Sabiya Power and Water Distillation Plant in the upcoming period. He also noted robust annual growth in local credit, which reached 7.7% during the first eight months of the year.
Al-Sager also emphasized that the recently approved economic legislation, including the Finance and Liquidity Law (Public Debt) and the Real Estate Developer Law, along with the forthcoming approval of the Real Estate Finance (Mortgage) Law, constitutes a key driver for ensuring the smooth and swift functioning of Kuwait’s economy.
Al-Sager praised the plan announced by the Council of Ministers to update approximately 250 laws across various sectors by December 2026, expressing hope that this legislative initiative will contribute to improving the overall business sentiment and strengthening the role of the private sector in line with Kuwait’s Vision 2035.
Accolades for Excellence
In the third quarter of 2025, NBK received several prestigious awards, underscoring its leadership in the banking sector. Global Finance honored NBK with the titles of Best Digital Payment Solutions and Best Online Product Offerings in Kuwait, recognizing the bank's innovative digital solutions that cater to customer needs and adapt to technological advancements. Additionally, Euromoney awarded NBK the Best Bank for Large Corporates in Kuwait and the Best Bank for Diversity & Inclusion in Kuwait, affirming its commitment to corporate excellence and inclusive practices. Furthermore, Weyay Bank, NBK's fully digital banking arm, was named Best Digital-Only Bank in Kuwait by Global Finance, highlighting its pioneering role in the digital banking landscape.
Moreover, the GCC Ministerial Committee for Labor and Social Affairs honored NBK for winning the Best Private Sector Project Award across the GCC for its nominated “Bankee: Financial Literacy Program, recognizing it as an innovative educational initiative and one of the region’s foremost efforts to promote financial awareness and literacy among school students in Kuwait.
NBK was also honored with the Silver Award for Excellence in Diversity and Inclusion for its “NBK RISE” program by the Society for Human Resource Management (SHRM) during the SHRM MENA STAR Awards 2025, held at the SHRM MENA Annual Conference in Madinat Jumeirah, Dubai. Likewise, the Bank’s steadfast efforts and commitment to environmental responsibility, social impact and corporate governance was recently recognized by the revision of NBK’s ESG Rating from “medium” to “low” risk by Sustainalytics; while MSCI upgraded NBK’s ESG rating to “A”.
Key financial indicators for 9M2025
• Net operating income stood at KD 969.0 million (USD 3.2 billion), up 4.1% year-on-year
• Total assets grew by 14.7% year-on-year, at KD 44.9 billion (USD 147.2 billion)
• Total loans and advances increased by 12.5% year-on-year to KD 26.1 billion (USD 85.4 billion)
• Customer deposits grew by 9.7% year-on-year to KD 24.6 billion (USD 80.6 billion)
• Shareholders’ equity amounted to KD 4.4 billion (USD 14.5 billion), registering an annual growth of 11.0%.
• Strong asset quality metrics, with NPL/gross loans ratio at 1.37% and an NPL coverage ratio of 241%
• Robust Capital Adequacy Ratio of 16.4%, comfortably exceeding regulatory requirements.
Kuwait: NBK Posts Strong Net Profits of KD 575.6 Million in FY2025
28.01.2026National Bank of Kuwait (NBK) has announced its financial results for the financial year ended 31 December 2025.The Bank reported a net profit of KD 575.6 million (USD 1.9 billion), compared to KD 600.1 million (USD 2.0 billion) for the financial year 2024. Earnings per share (EPS) stood at 64 fils for 2025, compared to 66 fils for 2024.
Profit before tax increased by 5.4% on a year-on-year basis, reaching KD 734.6 million (USD 2.4 billion) at the end of 2025, compared to KD 696.8 million (USD 2.3 billion) in 2024.
Total assets as of December 2025 grew by 13.1% year-on-year, reaching KD 45.6 billion (USD 149.4 billion), while customer deposits grew by 14.0%, totaling KD 26.1 billion (USD 85.3 billion) by the end of 2025.
Meanwhile, Group loans and advances reached KD26.8 billion (USD 87.8 billion) by December 2025, reflecting a growth of 13.1% year-on-year. In the meantime, shareholders' equity also saw an increase, standing at KD 4.3 billion (USD 14.0 billion), up by 9.2% year-on-year.
In terms of distributions, the Board of Directors has proposed a cash dividend of 35 fils per share for the financial year 2025, equivalent to 53% of net profits. In addition, the Board has recommended the distribution of bonus shares at a ratio of 5%. These proposed distributions are subject to the approval of the Annual General Assembly (AGM).
A Prudent Approach
Commenting on the Bank's annual financial results, Mr. Hamad Al-Bahar, NBK Group Chairman, affirmed that, despite the challenges posed by the global economic environment in 2025, including the repercussions of geopolitical tensions, tariff pressures, and the accommodative trajectory of interest rates, the Bank succeeded in further consolidating its position as a leading financial institution. This performance was underpinned by a prudent operating approach and a flexible strategy anchored in diversification and financial discipline.
Al-Bahar noted that the Bank’s financial results for the year ended 31 December 2025 reflect NBK’s ability to adapt and navigate a wide range of economic conditions, supported by a diversified business model, a strong capital base, high-quality assets, comfortable liquidity position, and a robust governance and risk management framework.
He added that the Bank continues to successfully execute its strategy of balancing the delivery of superior returns to shareholders with meeting the evolving needs of its customers. He further emphasized that sustainability has become a central pillar of NBK’s long-term growth agenda. The Bank recorded a significant year-on-year increase of approximately 23% in the value of its sustainable assets, reaching USD 6.10 billion by the end of 2025. This represents 61% of its strategic 2030 target of USD 10 billion. Al-Bahar added that 2025 marked a year of significant achievements that further reinforced NBK’s position as the largest contributor to corporate social responsibility initiatives in Kuwait. Among the most notable milestones were the inauguration of the Shuwaikh Beach Development and Beautification Project, funded by the Bank at a cost of KWD 3 million, as well as the laying of the foundation stone for the expansion of the NBK Children’s Hospital for Hematology, Oncology, and Stem Cell Transplant. The expansion includes the construction of a new building at an estimated cost of nearly KWD 19 million.
Solid Operating Performance
Meanwhile, Mr. Isam J. Al-Sager, NBK Group Vice Chairman and CEO, said: “The Group’s 2025 results reflect the solid operating performance delivered across its various business segments, led by its core banking activities, despite the volatile global operating environment and its spillover effects on regional and local markets. During the year, the Group recorded a year-on-year growth of 3.6% in net operating income, reaching KWD 1.3 billion (USD 4.2 billion).”
He noted that the Group’s profit before tax recorded a year-on-year increase of 5.4% in 2025, while net profits were impacted by the application of the domestic top-up minimum tax on multinational entities operating in Kuwait. He emphasized that this impact on profit growth is transitional in nature, reflecting the base-year effect of 2025 as the first year of the tax’s implementation.
Al-Sager emphasized that NBK Group’s diversified business mix, carefully calibrated strategic investments, and disciplined risk management have mitigated the impact of adverse global economic conditions. He added that NBK continues to invest in technology and innovation as fundamental pillars of inclusive and sustainable growth, while also expanding its customer base and capitalizing on opportunities across promising markets and key sectors.
He further noted that, throughout 2025, the Bank continued to roll out innovative banking services and products specifically designed to meet the evolving needs of its customers. In addition, the Group’s Consumer and Digital Banking arm launched its new five-year strategy through 2030, marking a strategic shift from mere digitization of services to a fully customer-centric, underpinned by data collection and advanced analytics. This transformation further reinforces NBK’s leadership position locally and regionally, offering an exceptional banking experience.
Furthermore, Al-Sager pointed to the key contribution of both NBK Group’s corporate banking and international operations, as well as Boubyan Bank— the Group’s Islamic banking arm— in strengthening the Group’s profits. He further highlighted that NBK Wealth has continued to consolidate its position as the largest wealth management entity in Kuwait and among the largest in the region, by offering an integrated suite of private banking, investment management, and advisory services through a globally connected network of operations.
On major financing transactions, Al-Sager stated: “During 2025, NBK led a KWD 1.5 billion syndicated term facility with Kuwait Petroleum Corporation (KPC). This transaction represents the largest financing of its kind denominated in Kuwaiti Dinars. The Bank served as the mandated lead arranger and bookrunner for the facility, as well as the agent for the conventional tranche. NBK’s share amounted to KD 495 million of the total financing, making it the largest contributor among all participating conventional and Islamic banks, accounting for approximately 60% of the KD 825 million conventional tranche.”
Al-Sager noted that this transaction reinforces NBK’s position as the largest financier of Kuwait’s oil sector and the primary banking partner for energy companies in supporting their expansion and growth plans.
He further noted that Kuwait Clearing Company’s selection of NBK as the country’s main settlement bank represents a testament to the Bank’s substantial investments in digital infrastructure and its high level of operational readiness. This milestone further strengthens NBK’s role in advancing the development of Kuwait’s capital market infrastructure.
On the sustainability front, Al-Sager affirmed that NBK continues to deepen its leading role in shaping a more sustainable future through its green financing initiatives and the development of products and solutions that reflect global best practices in sustainable finance. In this context, he pointed to the Bank’s signing in 2025 of Kuwait’s first-ever green loan agreement. He also highlighted NBK’s ongoing efforts to strengthen its environmental, social, and governance (ESG) framework through measurable initiatives that support emissions reduction and the achievement of carbon neutrality by 2060.
The Operating Environment
Al-Sager expressed his optimism regarding an improvement in the domestic operating environment in 2026, supported by a number of key factors.
He explained that the Financing and Liquidity Law enacted in 2025 has established an advanced framework for long-term sovereign debt issuances, thereby enhancing banking system liquidity through high-quality sovereign assets and supporting the financing of large-scale projects. He added that the Real Estate Financing Law—once approved—would enable banks to provide long-term financing for the residential sector, helping address the housing challenge and stimulating activity across construction and real estate–related sectors.
Moreover, Al-Sager noted that the value of government-awarded projects in 2025 exceeded KWD 4 billion, surpassing 2024 levels by well over 60%. Meanwhile, bank credit recorded solid performance, with credit to residents growing by approximately 7.63% year-on-year as of the end of December 2025, the fastest pace since 2023.
He indicated that project awards are expected to gain further momentum in 2026, supported by the broad pipeline of initiatives under the government’s capital projects program across multiple sectors, alongside a gradual pace of interest rate cuts. This combination bodes well for the outlook and is set to create a favorable environment for credit growth for both corporates and individuals during the year.
He emphasized, however, that while the domestic outlook remains positive, it is accompanied by certain regional and global challenges, including persistent geopolitical tensions, tariffs, and their associated negative economic repercussions.
Prestigious Awards
During 2025, NBK further consolidated its leadership position by receiving a series of prestigious awards from leading global institutions and publications.
Among these accolades, MEED named NBK Best Retail Bank and Best SME Bank in Kuwait, in addition to awarding the Bank several regional honors across the Middle East and North Africa, including Best Loan Offering, Best Contactless Payment Experience, and Best Payment Solutions for SMEs. NBK’s digital subsidiary, Weyay Bank, was also recognized with the Most Innovative Product Award for its children’s card, “Jeel.”
NBK also received three prestigious awards from Global Finance, including Best Digital Payment Solutions and Best Online Product Offerings in Kuwait, while Weyay Bank was named Best Digital Bank in Kuwait. Furthermore, the Bank won four awards from Euromoney, including Kuwait’s Best Bank for ESG, Kuwait’s Best Bank for Large Corporates, Kuwait’s Best Bank for Diversity and Inclusion, as well as Kuwait’s Best Digital Bank for Weyay Bank.
Key financial indicators for the financial year ended December 31, 2025
• Net operating income stood at KD 1.3 billion (USD 4.2 billion), up 3.6% year-on-year
• Total assets grew by 13.1% year-on-year, at KD 45.6 billion (USD 149.4 billion)
• Total loans and advances increased by 13.1% year-on-year to KD 26.8 billion (USD 87.8 billion)
• Customer deposits grew by 14.0% year-on-year to KD 26.1 billion (USD 85.3 billion)
• Total shareholders’ equity amounted to KD4.3 billion (USD 14.0 billion), registering an annual growth of 9.2%.
• Strong asset quality metrics, with NPL/gross loans ratio at 1.36% and an NPL coverage ratio of 240%
• Robust Capital Adequacy Ratio of 17.0%, comfortably exceeding regulatory requirements.