23/10/2026 03:29 AST
In a further affirmation of its leadership in sustainability and responsible banking, National Bank of Kuwait (NBK) has announced that MSCI has upgraded the Bank's Environmental, Social and Governance (ESG) Rating from A to AA. The upgrade moves NBK from MSCI's "Average" category to its "Leader" category, which encompasses institutions demonstrating advanced practices in managing sustainability-related issues and integrating them into their strategies and operations.
NBK is the first and currently the only Kuwaiti bank to hold an AA ESG Rating from MSCI. The achievement is particularly significant as NBK is one of only six GCC banks to hold this rating. This reflects the Bank's strong position in managing sustainability and governance matters relative to its international peers and underscores its successful adoption of global best practices in ESG.
This rating represents the culmination of years of sustained and structured institutional efforts to embed sustainability considerations across the Bank's business, financing, investment and risk management activities, in line with international best practices and standards. It also underscores the strength of the institutional framework NBK has developed to support responsible growth and create sustainable value for all stakeholders.
Recognition of sustained efforts
MSCI's upgrade reflects growing recognition of NBK's approach across several key areas, including sustainable and green financing, the integration of ESG criteria into financing activities, enhanced ESG due diligence and risk management, and climate-related risk analysis. It also recognizes the Bank's focus on data privacy and information security, consumer financial protection, business ethics and corporate transparency.
The rating further underscores NBK's success in developing an integrated sustainability framework that embeds ESG considerations across its business activities, strengthening the Bank's resilience and its ability to create sustainable, long-term value for all stakeholders.
Measurable progress
The positive assessment is underpinned by a series of sustainability achievements in recent years, reflecting continued progress towards NBK's long-term objectives. The Bank's sustainable assets and financing reached approximately $5.92 billion, advancing towards its target of $10 billion by 2030.
NBK also continued to reduce its environmental footprint, recording a 37.3 percent reduction in operational emissions compared with its 2021 baseline. In parallel, the Bank strengthened its climate risk management practices and enhanced disclosure and transparency in line with regulatory requirements and the evolving expectations of investors and stakeholders.
At the Group level, sustainable loans reached $3.06 billion in 2025, an increase of 23 percent from $2.4.8 billion in 2024.
On the social front, NBK continued to invest in human capital and the development of national talent, delivering more than 83,000 training hours to its employees in Kuwait during 2025. This reflects the Bank's commitment to fostering a workplace culture centered on continuous learning, skills development and leadership capabilities.
The result of collective institutional efforts
Commenting on the achievement, Amir Hanna, Group Chief Communications Officer, said: "MSCI's upgrade of NBK's ESG Rating to AA marks an important milestone in our journey to advance sustainability and firmly establish it as an integral part of the Bank's strategy and operations. More importantly, it represents independent international recognition of the progress we have made in strengthening governance practices, risk management, responsible financing and transparency across the organization." "We are proud to be the first Kuwaiti bank to hold this rating, an achievement that reflects the collective efforts of teams and departments across the Bank. Our integrated institutional approach has helped foster a corporate culture in which sustainability is firmly embedded in decision-making," Hanna added.
Building on this achievement
Hanna affirmed that NBK will continue to build on this achievement by advancing sustainable finance initiatives, strengthening climate, environmental and social risk management, and enhancing transparency and disclosure. These efforts will further support the Bank's role in advancing sustainable development and creating a lasting positive impact on the economy and society.
This achievement adds to NBK's extensive record of international recognition, reflecting the success of its strategy to embed responsible banking practices and strengthen its position among financial institutions demonstrating a strong commitment to sustainability standards at both regional and international levels. The MSCI upgrade also marks another significant addition to the numerous international awards and recognitions NBK has received for its sustainability efforts over the years. These include accolades from leading global institutions recognizing the Bank's achievements in sustainable finance, corporate governance, risk management and social responsibility. This continued recognition reinforces NBK's standing as a regional benchmark for responsible banking and its ability to balance financial growth with a positive and sustainable impact on the economy, society and the environment.
Kuwait Times
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