Ahmad Mohammad Al Bahar:

  • We made tangible progress toward our planned conversion into a Sharia-compliant Bank.
  • We enter the next phase with a clear strategic direction, supported by strong governance and a sound financial position.
  • Our 2030 Strategy is focused on reinforcing our market position and promoting sustainable growth.

Faisal AlAdsani:

  • Gulf Bank’s financial performance in 2025 reflects a strong implementation and a balanced approach to growth.
  • Our capital adequacy levels supported the balance sheet growth while maintaining healthy buffers above regulatory requirements.
  •  Significant progress has been made in assessing system requirements, strengthening governance frameworks, and building the necessary internal capabilities to become a Sharia-compliant Bank.

Gulf Bank held its Ordinary General Assembly yesterday (Saturday), with a quorum of 77.3 %, approving the distribution of cash dividend of 9% per share, in addition to bonus shares of 5% for the financial year ended 31 December 2025.

In his statement to the shareholders, Gulf Bank’s Chairman, Mr. Ahmad Mohammad Al Bahar said: "Over the past year, we have focused on strengthening the Bank’s foundations and advancing key strategic priorities, and we have succeeded in achieving that despite the global geopolitical tension and the uncertain economic environment."

He mentioned that Gulf Bank maintained a strong financial position in 2025, driven by robust balance sheet growth, a high-quality loan portfolio, and well-capitalization levels that position the Bank for future growth.

He added: "We advanced our planned transition to a Sharia-compliant Bank following the Central Bank of Kuwait’s initial approval to proceed with this conversion, an important milestone in the Bank’s strategic evolution that supports a strong financial profile, customer service excellence, and long-term value creation".

“During the year, the Bank launched its 2030 five-year strategy, focused on reinforcing market position, promoting sustainable growth, and advancing its journey toward becoming a fully Sharia-compliant Islamic bank. Gulf Bank also continued to explore strategic opportunities, both organically and inorganically, aimed at enhancing long-term shareholder value”.

He added: "The assessment of a potential merger with Warba Bank is ongoing and conducted in close coordination with regulators and specialized advisors, with a strong focus on transparency and institutional integrity.”

Gulf Bank maintained a strong financial position in 2025, driven by robust balance sheet growth, a high-quality loan portfolio, and well-capitalization levels that position the Bank for future growth.

He concluded: "We enter the next phase with a clear strategic direction, supported by strong governance and a sound financial position. These elements provide a solid foundation for achieving long-term sustainable value for all stakeholders."

Financial Performance

Gulf Bank's Acting Deputy Chief Executive Officer Mr. Faisal AlAdsani, presented the Bank's financial performance for 2025 by stating: "Gulf Bank’s financial performance reflects a strong implementation and a balanced approach to growth. We have continued to strengthen our balance sheet while maintaining a high-quality loan portfolio based on prudent credit and proactive risk management”.

“Last year, the Bank reported a net profit of KD 52.4 million, with earning per share of 13 fils. The Bank's asset quality indicators remained strong, with the non-performing loan (NPL) ratio at 1.1%, and ample NPL coverage ratio, which reached 370%, inclusive of total provisions and collateral. Total credit provisions reached KD 256 million, resulting in a substantial excess provision level of KD 90 million, over IFRS 9 accounting requirements. Total loans and advances increased by 7% to KD 6.1  billion, an increase of KD 382 million compared to 2024.

Our capital adequacy levels supported our balance sheet growth while maintaining healthy buffers above regulatory requirements.

The Tier 1 Capital Ratio reached 14.8%, and the Capital Adequacy Ratio (CAR) stood at 16.9% as at 31 December 2025, both well above the minimum regulatory thresholds.”   

Strategic Outlook

Along these lines, Mr. Faisal AlAdsani stated: "Despite ongoing external pressures, Gulf Bank maintained a strong focus on sustainable financial performance, balance sheet resilience, and the advancement of key operational initiatives aligned with its long-term strategic aspirations. Throughout the year, the Bank prioritized prudent risk management, funding diversification, and talent development, to remain well positioned to meet evolving market conditions and regulatory requirements."

"We have concluded our five-year strategy for 2025 by completing several foundational initiatives that have strengthened our operating platform and positioned Gulf Bank for its next phase of growth. Key milestones included the completion of the core banking transformation, enhancements to our omni-channel capabilities, and continued expansion of the offering of our subsidiary InvestGB, all of which have improved scalability, service delivery, and product depth across the Bank.

In parallel, we continued to advance internal readiness for the Bank’s planned transition to a Sharia-compliant Bank, following the Central Bank of Kuwait’s preliminary approval to commence conversion activities. Dedicated governance structures and cross-functional teams have been established to oversee the program across operational, legal, technology, and product areas.

Significant progress has been made in assessing system requirements, strengthening governance frameworks, and building the necessary internal capabilities. We have also invested in targeted employee training programs to ensure readiness across the organization. Throughout this process, our focus remains firmly on maintaining business continuity, safeguarding asset quality, and delivering consistent service to our customers.

Dividends Payment Date on April 15th

The Bank's shareholders registered in the company’s records as at the end of the record date, set on April 8th, are entitled to cash dividends and bonus shares, whereby the payment date is set on April 15th.

65 years of contribution to economic development

In 2025, Gulf Bank celebrated its 65th anniversary, a milestone that reflects more than six decades of continuity, resilience, and contribution to Kuwait’s economic development. Since its establishment in 1960, the Bank has grown alongside the nation, supporting major development projects, expanding its financial services, and maintaining a strong and trusted presence within the community. This anniversary reflects Gulf Bank’s enduring legacy and institutional maturity.

Prestigious Credit Ratings

Gulf Bank’s creditworthiness continued to be well-recognized by leading international credit rating agencies. During the year, Fitch Ratings reaffirmed the Bank’s Long-Term Issuer Default Rating at ‘A’, while Moody’s affirmed its long-term deposit rating at ‘A3’. Capital Intelligence Ratings also reaffirmed the Bank’s Long-Term Foreign Currency rating at ‘A+’, in addition to maintaining the rating on the Bank’s Basel III-compliant Tier 2 Subordinated Bonds at ‘BBB+’.

All ratings were assigned Stable Outlooks, underscoring Gulf Bank’s resilient financial position, well-diversified and stable funding base, and robust domestic franchise.

Appreciation to Regulators

Mr. Ahmad Al Bahar expressed his gratitude and appreciation to the Central Bank of Kuwait and the Capital Markets Authority for their relentless support to the banking sector in the State of Kuwait. He also expressed his appreciation to the shareholders, customers, board members, executive management, and all employees for their continued trust and commitment to Gulf Bank.