• By retaining interim earnings till year-end and focusing on end of year final dividends distribution, NBK positions itself to seize growth opportunities as they emerge during the fiscal year

Al-Bahar: 

  • NBK delivered outstanding operational results, driven by a well-anchored strategy centered on a diversified business mix and prudent risk management
  • The Bank’s strong financial performance underscores its ability to adapt effectively to shifting economic conditions
  • Our robust balance sheet continues to support the delivery of superior returns to shareholders and sustained value to customers

Al-Sager:

  • NBK continues to demonstrate its adaptability to evolving operating conditions
  • Earnings highlight the strength of our diversification strategy and our success in fostering sustainable growth
  • NBK remains focused on enhancing its domestic competitiveness while expanding its presence in international markets
  • Strong demand from global investors for our recent bond issuance reflects confidence in the Bank’s credit worthiness
  • We are committed to supporting domestic economic growth through financing strategic development projects
  • Advancing further economic legislative reforms will be key to unlocking stronger growth momentum
  • We maintain a cautiously optimistic outlook for project activity in the second half of the year and beyond
  • The government’s commitment to empowering the private sector participation under Kuwait Vision 2035 will play a vital role in driving economic expansion

National Bank of Kuwait (NBK) has announced its financial results for the six-month period ended 30 June 2025, reporting a net profit of KD 315.3 million (USD 1.0 billion), compared to KD 292.4 million (USD 957.8 million) for the corresponding period in 2024, marking a year-on-year increase of 7.8%. Profit before tax reached KD 401.5 million (USD 1.3 billion) during the period, marking a 17.0% increase compared to KD 343.1 million (USD 1.1 billion) in the corresponding period of 2024.

As of the end of June 2025, total assets rose by 15.9% year-on-year to KD 43.6 billion (USD 143.0 billion), while total loans and advances grew by 12.1% year-on-year, reaching KD25.5  billion (USD 83.5 billion).

Customer deposits grew by 9.5% on an annual basis, reaching KD 23.9 billion (USD 78.2 billion) by the end of June 2025. Meanwhile, shareholders’ equity reached KD 4.2 billion (USD 13.9 billion), reflecting a growth of 10.3% year-on-year.

The Board of Directors has opted to retain interim earnings till year-end, focusing on end of year final dividend distribution. The decision reflects the Board’s commitment to strengthening the Group’s balance sheet in seizing promising growth opportunities across its operating markets, particularly in light of the anticipated pickup in business activity in Kuwait, while maintaining flexibility in managing interim capital adequacy ratio.

A Robust Strategy

Commenting on the Bank's 1H2025 financial results, Mr. Hamad Al-Bahar, NBK Group Chairman stated, “NBK’s strong performance reflects its ability to navigate varying economic conditions, even amid heightened geopolitical challenges and global trade tensions stemming from recent U.S. tariffs. The Bank’s solid operational results underscore the strength of its well-established strategy, anchored in a diversified business model and prudent risk management.”

Al-Bahar emphasized that NBK’s strong balance sheet, solid capital base, and high asset quality reinforces the Bank’s ability to deliver sustainable profitability and optimal returns for shareholders and customers; while continuing to support the prosperity of the communities in which it operates.

Al-Bahar noted that the Bank achieved several milestones across various areas during the first half of the year, most notably its selection as Kuwait’s Main Settlement Bank. He emphasized that this recognition reflects years of continuous investment in enhancing the Bank’s digital infrastructure, which qualified NBK to meet the technical and operational requirements set by Kuwait Clearing Company (KCC); securing the highest ratings among participants in the Central Counterparty Project (CCP).

Reflecting its long-standing commitment to sustainability, Al-Bahar noted that NBK has continued to make significant strides toward a more sustainable future. He pointed to recent upgrades in the Bank’s ESG ratings by leading global agencies, including Morningstar Sustainalytics and MSCI, as clear recognition of NBK’s dedication to environmental stewardship, social responsibility, and sound governance practices. This was reinforced by the publication of the first allocation and impact report for its debut USD 500 green bond issued in June 2024, which is the first issuance of its kind in Kuwait. The report provides relevant information that highlights the allocation of proceeds from the green bond as of 31 March 2025 and the estimated environmental impact during the reporting period.

Sustainable Growth

Meanwhile, Mr. Isam J. Al-Sager, NBK Group Vice Chairman and CEO, said: “Once again, NBK continues to affirm the resilience of its business model and its agility in navigating a shifting operating environment, consistently delivering profit growth across economic cycles. This performance underscores the strength of the Group’s geographic diversification strategy and the effectiveness of its long-term approach to driving sustainable growth.”

He noted that the Bank delivered solid operating performance across its core business segments during the first half of 2025, with the Group’s net operating income rising by 3.1% year-on-year to reach KD 631.4 million (USD 2.1 billion).

Al-Sager highlighted the strong contribution of the International Banking Group (IBG), as well as Boubyan Bank — the Islamic banking arm of NBK— to the Group’s net operating income and profitability during 1H2025. In addition, NBK Wealth continues to strengthen its position as the leading wealth management firm in Kuwait and among the largest in the region; offering a comprehensive suite of private banking, wealth and investment management solutions and advisory services through an integrated global network.

During the first half of 2025, NBK continued to deliver an enriched banking experience, underpinned by innovative solutions tailored to meet evolving customer needs. The Bank further reinforced its digital leadership by introducing a suite of carefully designed digital services and products aligned with customer expectations.

He added that NBK remains committed to investing in technology and innovation as a core driver of growth, underscoring the Bank’s focus on strengthening its competitive edge in the domestic market and expanding its presence across international markets.

Regarding NBK’s recent USD 800 million PNC6 Additional Tier 1 bond issuance, Al-Sager emphasized that strong investor demand afforded the Bank a notable pricing advantage. He noted that the order book peaked at USD 2.2 billion, with subscriptions exceeding 2.75x the issue size; driven by solid interest from a diverse base of global investors and financial institutions.

The Operational Environment

Commenting on the local operating environment, Al-Sager expressed cautious optimism regarding the outlook for project activity in the second half of the year and beyond. He pointed to the government's announcement of 141 projects under the 2025/2026 annual development plan, including large-scale ventures such as Mubarak Al-Kabeer Seaport, the expansion of the T2 passenger terminal at Kuwait International Airport, and the New Al-Sabah Hospital, as key drivers of anticipated momentum.

Furthermore, he emphasized that the adoption of further economic legislative reforms would serve as a catalyst for accelerated economic growth, commending the government’s commitment to enacting key legislation in the near term, including the anticipated approval of the mortgage law. He also underscored the importance of empowering the private sector to take a leading role in economic activity under Kuwait Vision 2035, noting that such measures are vital to enhancing the local business climate and supporting the growth of the national economy going forward.

Prestigious Awards

During the first half of 2025, NBK garnered several prestigious accolades that reaffirm its leadership both locally and regionally. These included being named Best Bank in Kuwait - 2025, as well as receiving awards for Best Retail Bank and Best Bank for SMEs in Kuwait by MEED International Magazine.

Euromoney magazine also honored the Bank with multiple accolades in 2025, naming NBK Kuwait's Best Bank for ESG, Kuwait's Best Bank for Large Corporates, and Kuwait's Best Bank for Diversity and Inclusion.

Moreover, NBK has also garnered multiple accolades across the MENA region, including Best Loan Offering-2025, Best Contactless Payment Experience, and Payment Solution for SMEs, awarded by MEED Magazine.

Key financial indicators for 1H2025

  • Net operating income stood at KD 631.4 million (USD 2.1 billion), up 3.1% year-on-year
  • Total assets grew by 15.9% year-on-year, at KD 43.6 billion (USD 143.0 billion)
  • Total loans and advances increased by 12.1% year-on-year to KD 25.5 billion (USD 83.5 billion)
  • Customer deposits grew by 9.5% year-on-year to KD 23.9 billion (USD 78.2 billion)
  • Shareholders’ equity amounted to KD 4.2 billion, (USD 13.9 billion) registering an annual growth of 10.3%.
  • Strong asset quality metrics, with NPL/gross loans ratio at 1.33% and an NPL coverage ratio of 252%
  • Robust Capital Adequacy Ratio of 16.4%, comfortably exceeding regulatory requirements.  

About NBK:

National Bank of Kuwait (NBK) was established in 1952 as the first national bank and the first joint stock company in Kuwait and the Arab Gulf region. NBK achieved profits of USD 1.9 billion (KD 600.1 million) in 2024, while the Bank’s total assets reached USD 130.9 billion (KD 40.3 billion) by the end of 2024, and shareholders’ equity reached USD 12.7 billion (KD 3.9 billion).

NBK is the largest conventional financial institution in Kuwait and has actual predominance in the commercial banking sector. The bank has consistently retained the highest credit ratings among all banks in the region, as affirmed by renowned global ratings agencies such as Moody's, Standard & Poor's, and Fitch. Noteworthy is NBK's extensive network, encompassing branches and subsidiaries across key global financial hubs, including China, Geneva, London, Paris, New York, and Singapore. Additionally, NBK maintains a robust regional presence in Lebanon, Egypt, Bahrain, Saudi Arabia, Iraq, and the UAE.

NBK Long-Term Rating

  • Moody's Credit Rating: A1
  • Fitch Ratings: A+
  • Standard & Poor's Rating: A