National Bank of Kuwait has been a pillar of Kuwait’s financial system for more than seven decades. Founded in 1952 as the first local bank and shareholding company in the Gulf Cooperation Council region, NBK is now Kuwait’s largest financial institution and a leading regional player, with operations across the MENA region, Europe, Asia and the United States.
Combining conventional and Islamic Banking (through subsidiary Boubyan Bank) under one roof, NBK has built a reputation for financial strength, prudent governance and innovation.
“NBK’s ability to deliver consistent growth while advancing Kuwait’s sustainable economic transformation reflects the strength of our diversified business model and the dedication of our people,” says Isam Al-Sager, Vice-Chairman and Group Chief Executive Officer of NBK.
The group delivered another record year in 2024, posting net profit of KD 600.1m — a 7% increase year-on-year — supported by robust loan growth and strong asset quality.
Momentum continued into the first half of 2025, with net profit rising 7.8% year-on-year to KD 315.3m. Total assets climbed 15.9% to KD 43.6bn as of June 2025, while customer deposits reached KD 23.9bn, up 9.5%, and a capital adequacy ratio of 16.4% — well above regulatory requirements — underscore NBK’s financial resilience.
“Our performance reflects a balanced approach — pursuing growth while maintaining strong liquidity, solvency and asset quality,” says Al-Sager. “This ensures NBK is well positioned to support clients and the economy through changing market cycles.”
Leadership in sustainable finance
NBK is at the forefront of Kuwait’s shift towards sustainable finance. The Bank’s sustainable assets portfolio reached nearly $5bn at the end of 2024, approaching half of the 2030 target.
The successful issuance of Kuwait’s first $500m green bond marked a milestone for the country’s capital markets and demonstrated strong investor appetite for climate-aligned finance. The bank has also grown its ICMA-aligned green loan portfolio to $625m, financing renewable energy, green buildings, water efficiency and climate-resilient infrastructure.
“The integration of environmental, social and governance principles into our strategy is a core priority,” says Al-Sager. “We aim to be the leading bank in supporting Kuwait’s low-carbon transition strategy while delivering long-term value to stakeholders.”
As part of its ongoing commitment to environmental sustainability, NBK has successfully reduced its greenhouse gas emissions by 28.3%, exceeding its original target of 25%. This achievement was driven by the implementation of energy efficiency measures and the installation of clean solar energy solutions across 18 branches.
In line with its dedication to transparency and accountability, NBK also published its inaugural Taskforce on Climate-related Financial Disclosures (TCFD) Climate Report, alongside its Green Bond Allocation and Impact Report.
Digital transformation remains central to NBK’s growth. More than 90 digital enhancements were introduced in 2024, from new NBK Mobile App features to strategic fintech partnerships. The launch and expansion of Weyay — Kuwait’s first digital-only bank — has strengthened NBK’s appeal among younger, tech-savvy customers and serves as a model for next generation banking.
“These innovations deliver a seamless, secure and engaging customer experience, while driving efficiency and expanding our reach,” says Al-Sager. “Digital leadership is not just about technology; it is about creating new value propositions for clients.”
Investing in people, communities and Kuwait’s future
NBK’s investment in human capital is matched by its commitment to social impact. The workforce is 78% Kuwaiti, supported by programmes such as NBK Academy, NBK Tech Academy and NBK RISE, which foster leadership development and promote gender diversity. By the end of 2024, women accounted for 43.2% of the workforce and 27.4% of leadership roles.
“Inclusion and talent development are at the heart of NBK’s growth story,” says Al-Sager. “By empowering our people, we create the capabilities needed to serve clients and communities for decades to come.”
In 2024, NBK contributed KD 30m to community initiatives in health, education and social welfare. Financial literacy campaigns such as the Bankee programme and the “Let’s Be Aware” initiative with the Central Bank of Kuwait are equipping the next generation with essential money management skills.
NBK’s priorities — sustainability, regional expansion, digital innovation and value creation — align with Kuwait’s Vision 2035. The bank is a key financier of mega infrastructure projects in energy, transport, housing and industry, and continues to support public-private partnerships that drive diversification. Wealth management remains a core growth engine, offering high net worth clients bespoke investment solutions and cross-border strategies, supported by NBK’s regional scale and international presence. High credit ratings from Moody’s, S&P and Fitch reinforce its standing as one of the most trusted financial institutions in the region.
“NBK’s role in Kuwait’s economic transformation extends beyond banking,” says Al-Sager. “We are committed to driving progress, fostering innovation and creating opportunities that will benefit generations to come.”
KEY DATA
First half of 2025
Total assets: KD 43.6bn ($143bn)
Net profit: KD 315.3m ($1.03bn)
Capital adequacy ratio: 16.4%