18/02/2026 06:16 AST
In a renewed affirmation of its institutional leadership and commitment to sustainable practices in responsible finance, governance and disclosure, National Bank of Kuwait announced winning two prestigious awards from Global Finance magazine, as part of the magazine's sixth annual Sustainable Finance Awards for 2026: Best Sustainable Finance Bank in Kuwait for 2026, marking the second consecutive year the Bank has received this accolade, and Best Bank for Sustainability Transparency in the Middle East for 2026, a distinction that NBK has earned for the first time at the regional level, underscoring its growing leadership and impact across the wider Middle East.
The Global Finance Sustainable Finance Awards acknowledge leading financial institutions in 56 countries across global, regional and local categories, with winners selected after evaluating their sustainability efforts and financing initiatives that aim to reduce the negative impacts of climate change. The winners for 2026 are scheduled to be honored during the magazine's Investment Banking and Sustainable Finance Awards ceremony, which will take place in London on April 21, 2026.
NBK was awarded Best Sustainable Finance Bank in Kuwait based on a rigorous evaluation criteria adopted by the editorial board of Global Finance magazine, including an assessment of NBK's sustainability-related governance policies and objectives, as well as its measurable achievements in environmental and social sustainability financing. The assessment covered the period from January to December 2025, during which NBK delivered tangible progress in expanding its sustainable finance portfolio and strengthening ESG practices across the organization.
By the end of 2025, NBK recorded a significant leap in its sustainable assets, achieving a 23 percent year-on-year growth to reach $6.11 billion, surpassing 61 percent of its 2030 strategic target of $10 billion. The Bank's sustainable loans also grew by 21 percent year-on-year, reaching $3.06 billion, while sustainability-linked loans surged by 60 percent to $955.39 million. In parallel, sustainable investments rose by 32 percent amounting to $2.49 billion. These results underscore NBK's accelerating momentum in scaling sustainable finance across its portfolio.
Further contributing to this win was also the Bank's signing of the first green financing agreement in Kuwait with Mabanee Group, marking a milestone in the country's sustainable finance landscape. NBK successfully structured and led the country's first-ever green loan, valued at approximately $81 million to finance the development of a state-of-the-art mixed-use commercial building designed to achieve LEED Gold Certification.
Meanwhile, NBK was named Best Bank for Sustainability Transparency in the Middle East in recognition of its exceptional leadership in sustainability disclosures and its alignment with the highest international reporting standards. A key factor behind this regional win was the publication of NBK's first Green Bond Allocation and Impact Report, which set a new benchmark for disclosure quality and transparency in sustainable finance reporting across the Middle East. The report, released following the successful issuance of NBK's inaugural $500 million green bond, provided detailed, verifiable insights into the allocation of proceeds and the environmental impact achieved, reflecting the Bank's commitment to rigorous measurement, transparency and accountability.
Global Finance magazine's evaluation for this award relied on a combination of nomination submissions and independent research focused on the reliability, integrity and depth of sustainability reporting. NBK's leadership in transparency was further demonstrated through the publication of its first standalone Task Force on Climate-Related Financial Disclosures (TCFD) report, making it the first and only bank in Kuwait to independently release such a report. The Bank also advanced its climate-risk related management practices by integrating climate change risk considerations into its Internal Capital Adequacy Assessment Process (ICAAP) in line with Pillar 2 requirements, reinforcing NBK's commitment to organizational resilience and business continuity.
These advancements in transparency and integration of environmental, social, and governance (ESG) principles strengthened NBK's overall positioning, earning the Bank stronger ratings from global ESG rating agencies and placing it among the top-rated banks in the region. Morningstar Sustainalytics upgraded NBK's ESG Risk Rating from '27.1 - Medium Risk' to '19.4 - Low Risk,' while Morgan Stanley Capital International (MSCI) raised NBK's ESG rating from 'BBB' to 'A', reflecting the Bank's enhanced performance and leadership in sustainability.
This double recognition from Global Finance magazine underscores NBK's unwavering commitment to integrating ESG standards across all aspects of its operations. It reaffirms the Bank's leadership in driving the transition toward a more sustainable economy, while upholding the highest levels of transparency, disclosure and integrity.
Global Finance magazine, founded in 1987 and based in New York, is one of the oldest magazines specializing in the finance and economics sectors, and has a readership of more than 50,000 executives and investment and strategic decision-makers in financial institutions in 188 countries around the world. The magazine conducts numerous annual surveys on innovation and profitability among banks and financial institutions worldwide, selecting the best at the regional and global levels.
Kuwait Times
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