20/10/2026 09:52 AST
National Bank of Kuwait (NBK) announced its financial results for the nine months ended September 30, 2026, reporting net profit of KD 481.7 million ($1.6 billion), compared to KD 467.4 million ($1.5 billion) in the corresponding period of 2025, representing year-on-year growth of 3.1 percent. Total assets increased by 4.5 percent year-on-year to KD 46.9 billion ($152.4 billion) as of the end of September 2026, while total loans and advances grew by 8.2 percent year-on-year to KD 28.2 billion ($91.6 billion).
Customer deposits increased by 13.5 percent year-on-year to KD 27.9 billion ($90.6 billion) at the end of the first nine months of 2026, while total shareholders' equity reached KD 4.6 billion ($15.1 billion), representing growth of 5.1 percent compared to the corresponding period of the previous year.
Strength and diversification
Commenting on the results, Hamad Al-Bahar, NBK Group Chairman, said: "The Group's results for the first nine months of 2026 reflect the strength of our business model and our ability to deliver robust and sustainable performance across different economic conditions, underpinned by diversified income streams, a strong financial position and a flexible strategy."
Al-Bahar noted that NBK continued to reinforce its position as a leading regional financial institution during the third quarter, supported by a strong balance sheet, high capitalization ratios, comfortable liquidity levels and solid asset quality. He reaffirmed the Bank's commitment to further embedding sustainability principles across its business activities, operational and investment decisions, supporting sustainable growth and long-term value creation for shareholders.
Al-Bahar also reaffirmed the Bank's continued support for national and community initiatives, highlighting NBK's recent contribution of $5 million to the Kuwait Emergency Response Fund, in addition to KD 1.3 million towards the development of Kuwait International Airport facilities and KD 1 million for the restoration and rehabilitation of the land border crossings at Abdali, Salmi and Nuwaiseeb.
He further highlighted NBK's continued leadership in corporate social responsibility, noting that the Bank was named "Middle East's Best Bank for Corporate Responsibility 2026" at the Euromoney Awards for Excellence, in recognition of its initiatives across various fields, including healthcare, education, sports and others.
Balanced growth
Meanwhile, Isam J Al-Sager, NBK Group Vice Chairman and CEO, said: "The Group's financial indicators for the nine months ended September 30, 2026, reflect our ability to achieve balanced and sustainable growth despite the challenges facing the regional and global business environment."
Al-Sager revealed that net operating income grew by 3.8 percent year-on-year to reach KD 1.0 billion ($3.3 billion), supported by momentum in core banking activities and the positive contribution of the Group's various businesses and segments to revenue generation. This reflects the success of the Bank's strategy of diversifying income streams and capitalizing on opportunities across the markets in which it operates. He added that international operations continued to play a key role in supporting the diversification of the Group's operations, benefiting from NBK's extensive geographic presence across regional and global markets. This further diversified income streams and enhanced business resilience in the face of changing economic conditions. Boubyan Bank, the Group's Islamic banking arm, also continued to make a strong contribution to revenue and profit growth, supported by its leading position in the Islamic banking sector.
Al-Sager explained that the Group made tangible progress in executing its strategy to enhance geographic diversification and broaden revenue streams, leveraging the synergies between its conventional and Islamic banking businesses and wealth management activities. He further noted that, as part of NBK's commitment to strengthening its regional and international presence, the Bank recently opened a new branch at the Qatar Financial Centre, supporting its expansion plans and enhancing its ability to serve customers in the Qatari market.
Commenting on wealth management, Al-Sager said: "NBK Wealth continued to strengthen its position as one of the region's leading wealth management institutions, supported by business growth and rising demand for specialized investment and advisory solutions. The Group also continued to enhance its products and services to meet our clients' evolving needs and aspirations amid a changing investment environment."
Al-Sager emphasized that diversification remains a cornerstone of NBK Group's strategy, leveraging synergies across its various businesses, segments and markets to enhance the resilience of its business model and its ability to deliver sustainable value to shareholders.
Digital transformation and innovation
Al-Sager stated that NBK continued to demonstrate its leadership in digital banking during the third quarter by introducing innovative solutions that enhance customer experience and improve operational efficiency. As part of its digital transformation strategy, the Bank expanded its range of end-to-end digital services to cover more personal banking products, launching Kuwait's first fully digital loan offering. NBK also introduced the ability for parents to open accounts for their children, alongside a fully digital credit card application process that enables customers to add their cards directly to digital wallets through the NBK Mobile Banking App.
He explained that these initiatives align with NBK's vision of redesigning the customer journey and delivering a simpler, more seamless banking experience, further reinforcing its position as a leading financial institution in digital innovation.
Al-Sager also highlighted the notable progress NBK has made in advancing its sustainability and sustainable finance objectives, noting that the Group remains focused on creating long-term value for stakeholders by developing responsible financing solutions and enhancing the positive impact of its operations on the economy and society.
Operating environment
Commenting on Kuwait's operating environment, Al-Sager noted that economic activity had improved, supported by the gradual recovery in oil production and continued progress in implementing the country's development agenda. He added that project activity maintained its momentum, with the total value of awarded projects reaching approximately KD 3 billion during the first nine months of 2026. This coincided with international investments flowing into the infrastructure sector during the third quarter, underscoring investor confidence in Kuwait's economy and reinforcing the outlook for investment activity in the period ahead.
Al-Sager also highlighted the notable progress Kuwait has made in advancing economic and legislative reforms recently, including the issuance of the Real Estate Financing Decree-Law. He highlighted that its entry into force would support growth in the banking sector and stimulate broader economic activity, particularly in sectors associated with housing and real estate development.
Concluding his remarks, Al-Sager said: "At NBK, our solid capital base and strong liquidity position provide a firm foundation to capitalize on future growth opportunities and further strengthen our leadership in the domestic market. Our strong relationships with the public and private sectors also continue to reinforce our position among the leading banking institutions supporting Kuwait's development plans."
Awards and recognition
During the third quarter of 2026, NBK Group continued to strengthen its international presence and earn prestigious accolades, reflecting the success of its strategy in innovation, digital transformation and wealth management. NBK was named "Kuwait's Best Bank 2026" at Euromoney's Awards for Excellence and received 17 awards at Global Finance's World's Best Digital Bank Awards 2026, recognizing its excellence in delivering digital banking solutions and services to retail and corporate customers across Kuwait and the region.
NBK Wealth further reinforced its leadership in wealth management, receiving several prestigious awards at Euromoney's Private Banking Awards 2026, including "Kuwait's Best for Next-Gen 2026," "Kuwait's Best for Fixed Income" and "Middle East's Best for Fixed Income." These accolades reflect the excellence of its investment services and its ability to meet the needs of diverse client segments.
Meanwhile, Weyay Bank recently received the "Best in Precision Credit & Lending Award" in Kuwait, alongside "The Social & Community Banking Award" at both the Kuwait and regional levels from Global Finance, underscoring its success in delivering an innovative digital banking experience.
Kuwait Times
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