20/10/2026 09:49 AST
Boubyan Bank announced its financial results for the nine-month period ended September 30, 2026 with net profits of KD 80.7 million, representing growth of 4 percent compared with the same period last year, with earnings per share of 16 fils.
During the same period, the bank's assets grew to KD 11 billion at a growth rate of 8 percent compared with last year, the bank's financing portfolio grew by 10 percent to KD 8.4 billion, and its operating profits grew by 9 percent to KD 110 million.
Operational efficiency
Commenting on the financial results, Boubyan Bank's Chairman Abdulaziz Abdullah Dakheel Al-Shaya said: "The reported results and indicators reflect the bank's ability to adapt and respond to changing conditions with professionalism, agility, and resilience. This further strengthens its sustainable growth strategy, supported by a distinctive business model that has enabled the bank to make the most of available opportunities while optimizing resource management to improve profitability and maintain the highest standards of operational efficiency."
He added: "Boubyan focuses on the quality and sustainability of growth by continuing to develop its services and enhance the customer experience across all channels, alongside developing wealth management solutions that meet customers' diverse needs and aspirations. The bank's achievements and the recognitions it has received locally, regionally, and internationally also reflect its established position in innovation, digital banking, and Islamic finance."
He went on to explain: "The issuance of Mudarabah sukuk worth KD 90 million- the bank's first local-currency sukuk issuance to qualify as Additional Tier 1 capital-introduces a financing and investment instrument to the local market and supports an efficient capital structure and future growth plans. The issuance also underscores investors' confidence in the bank's solid financial position and standing in the capital markets."
He continued: "We continue to prepare the bank for the next phase, strengthen its financial and operational resilience, and invest in its digital capabilities and people. We look forward to completing the year with clear priorities, supported by the bank's strong financial position and our teams' commitment to delivering on those priorities."
Al-Shaya concluded: "On behalf of the Board of Directors, I would like to thank our shareholders, customers, and investors for their continued trust, and the bank's Executive Management and employees for their efforts and commitment. Boubyan will continue to uphold the principles of governance and sound management, pursue sustainable growth, and strengthen its position as one of the leading Islamic banking institutions in Kuwait and the region."
Enhancing capabilities and diversifying solutions
Adel Al-Majed, Vice-Chairman & Group Chief Executive Officer of Boubyan Bank, said: "The bank continues to enhance its organizational capabilities, invest in human capital, and improve operational efficiency, while developing services and solutions for different customer segments. These efforts support business growth, improve performance, and respond to rapidly changing market conditions."
He added: "Boubyan is progressing with its organizational transformation strategy by using artificial intelligence to develop its business model and improve efficiency across departments, helping to build an AI-enabled banking institution. Alongside this, the bank is investing in developing its teams' skills and preparing them for the future. It is delivering specialized training programs for its executive leaders to deepen their understanding of AI applications and explore how they can be used in the workplace within governance and data protection frameworks."
On diversifying funding sources, Al-Majed said: "The bank has completed its first Sharia-compliant syndicated financing facility, amounting to $300 million with a three-year tenor. Led by HSBC and involving several major Chinese banks, the transaction strengthens Boubyan's presence in international financing markets."
He explained: "The bank is expanding its strategic partnerships with organizations across various fields and sectors, enabling customers to benefit from offers and privileges. It also continues to fulfill its role in the community through targeted events and initiatives that support different sectors and segments of society and reflect its commitment to serving the community."
Al-Majed noted: "Boubyan is strengthening its role as a partner to small and medium-sized business owners by connecting them with a network of strategic partners and specialist service providers that support different aspects of their businesses and keep up with their evolving needs. Additionally, the bank is expanding its strategic partnerships with organizations across various fields and sectors, giving customers access to a range of benefits and services."
Al-Majed concluded by affirming: "Boubyan Bank will continue to focus on key growth drivers and invest in innovation, technology, and its people. These efforts will support the sustainability of the bank's performance, enhance its competitiveness, and reinforce its position as a bank capable of keeping pace with change and creating new opportunities for growth."
Continued achievements
Boubyan continued to strengthen its leading position locally, regionally, and globally, earning a number of prestigious awards from Global Finance and Euromoney across various categories. These awards provide international recognition of the comprehensive banking model followed by Boubyan in developing its business and its success in building a fully integrated Islamic banking institution.
Participation and engagement
Adel Al-Majed recently participated in a closed-door banking panel discussion hosted by the Central Bank of Kuwait in collaboration with Global Finance magazine. The discussion addressed the future of Kuwait's banking sector and economy, the key transformations shaping the banking industry, and the priorities for further strengthening the sector's soundness and resilience at the global, regional, and local levels.
Investing in national talent
Boubyan continues to invest in national talent and develop its skills through specialized workshops and lectures organized in collaboration with universities and academic institutions. The bank is also strengthening its partnerships with higher education institutions and exchanging expertise with them, helping prepare young talent for the labor market and equip them with skills that meet the needs of the financial sector and support their career development.
Kuwait Times
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