Al-Bahar:

NBK’s performance underscores the strength and resilience of its business model amid heightened regional and global uncertainty

Our strong operational efficiency and disciplined execution enabled us to navigate a rapidly evolving geopolitical landscape with confidence

The Bank continues to reinforce its position as a trusted partner in supporting national economic stability and delivering sustained value to the community across all conditions

Al-Sager:

Our diversified business model and broad geographic presence mitigated the impact of recent geopolitical tensions on performance

NBK continues to operate with efficiency and resilience across domestic and international markets without disruption

We have proactively implemented all necessary measures to ensure a safe working environment, placing the safety of our employees and customers at the forefront of our priorities

Kuwait’s strong financial buffers enhance its capacity to navigate current challenges with confidence

Robust financial assets, ongoing reforms, and sustained infrastructure investments continue to underpin the stability of Kuwait’s economy

Recent measures introduced by the Central Bank of Kuwait further strengthen the banking sector’s capacity to support all economic sectors

National Bank of Kuwait (NBK) has announced its financial results for the three months ended 31 March 2026. The Bank reported a net profit of KD 135.5 million (USD 441.3 million), compared to KD 134.1 million (USD 436.8 million) for the first quarter of 2025.

Total assets as of the end of March 2026 rose by 10.7% year-on-year, reaching KD 46.1 billion (USD 150.2 billion), while Group loans and advances grew by 10.9%, compared to the corresponding period of 2025 to reach KD 27.3 billion (USD 88.9 billion).

Meanwhile, customer deposits increased by 10.0% year-on-year to reach KD 25.9 billion (USD 84.3 billion), while shareholders’ equity rose by 6.0% year-on-year, reaching KD 4.3 billion (USD 13.9 billion) as of the end of March 2026.

Delivering with Efficiency and Discipline

Commenting on the Bank's financial results, Mr. Hamad Al-Bahar, NBK Group Chairman, stated that the Bank’s financial performance in 1Q2026 underscores the strength and resilience of its business model, sustaining stable performance with consistency and discipline amid heightened regional and global uncertainty.

Al-Bahar noted that NBK Group navigated these conditions with efficiency, anchored in a prudent strategic approach, diversified operations and strong operational flexibility, supported by a solid capital base, high asset quality, comfortable liquidity levels, and a robust governance and risk management framework. This enabled the Group to manage the rapidly evolving geopolitical developments with discipline and foresight; effectively mitigating their impact on overall performance.

“In light of the exceptional global and regional developments, we at NBK reaffirm our unwavering commitment to our national responsibility, as well as our continued dedication to supporting the State’s strategic direction and future aspirations. We remain firmly committed to contributing to the effective execution of development plans and advancing sustainable development, in a manner that strengthens the resilience of the national economy and serves the interests of the nation and its citizens. We pray for the continued safety, security, and stability of Kuwait,” Al-Bahar said.

He emphasized NBK’s commitment to its role as a key partner in supporting the stability of the national economy and serving the community with consistency and reliability under all circumstances. He highlighted that the Bank continues to operate in close coordination with the Central Bank of Kuwait, in collaboration with other Kuwaiti banks, to reinforce confidence in the banking sector, ensure the uninterrupted continuity of banking services and to extend support across all economic sectors.

Furthermore, Al-Bahar highlighted that the strength of Kuwait’s banking sector, underpinned by robust capitalization, ample liquidity, and a well-established regulatory framework, constitutes a fundamental pillar reinforcing the economy’s resilience and its capacity to navigate prevailing challenges with confidence.

Operational Resilience

Meanwhile, Mr. Isam J. Al-Sager, Vice Chairman and Group CEO of NBK, highlighted that the Group’s financial performance in 1Q2026 reflects the underlying strength and consistency of its operating model, supported by a well-diversified business mix, a balanced geographic footprint, and disciplined long-term strategic investments, underpinned by a prudent and forward-looking risk management framework.

He emphasized that the diversification of NBK Group’s business portfolio and its broad geographic footprint have materially strengthened its resilience, effectively mitigating the impact of recent geopolitical tensions on performance.

Furthermore, Al-Sager highlighted that the Bank’s operations continued with a high degree of efficiency and stability, without disruption, despite challenges in certain regional markets. “During 1Q2026, NBK continued to deliver the full spectrum of banking services to both retail and corporate customers, within Kuwait and across its international network, in a secure and uninterrupted manner. This was facilitated through its domestic branch network, as well as the International Business Group (IBG)”

He added that all banking systems and customer service platforms remain fully operational and efficient, with no impact on business continuity or the quality of service delivery.

Al-Sager also emphasized that digital channels, including the NBK Mobile Banking App and NBK Online Banking platforms, continue to operate with full efficiency, alongside the Bank’s ATM network deployed across multiple locations and operating on a 24/7 basis. He further emphasized that all critical and support functions continue to perform seamlessly, ensuring uninterrupted service delivery, particularly across trade finance and corporate banking activities.

He also underscored that the safety of employees and customers remains a paramount priority, with all necessary measures and precautionary protocols firmly in place to maintain a secure and stable working environment, while upholding the highest standards of operational readiness and business continuity across all markets.

Core Business Segments

Al-Sager stated that NBK Group’s core business segments delivered a resilient and well-balanced performance during 1Q2026, reflecting the depth and quality of its earnings base. This translated into a 6.6% year-on-year increase in net operating income, reaching KD 331.2 million (USD 1.1 billion) during the period.

He noted that NBK continued to expand its customer base through the disciplined rollout of innovative digital products and services, complemented by a consistently differentiated customer experience. Moreover, he added that the Bank’s sustained investments in technology and innovation are strategically positioned to reinforce its leadership in digital banking, enabling scalable growth, enhancing operational efficiency and driving long-term value creation for both customers and shareholders.

In parallel, Al-Sager highlighted that NBK Group’s international operations, alongside its Islamic banking arm, Boubyan Bank, played a pivotal role in supporting the growth of net operating income and net profit during 1Q2026, reflecting the strength of the Group’s strategic vision and the effectiveness of its diversified business model.

Al-Sager further emphasized that NBK Wealth continues to reinforce its standing as the largest wealth management entity in Kuwait and among the region’s leading players, reflecting the strength of its platform and the consistency of its performance. He added that this momentum has been recognized through a series of prestigious international awards, including “Best Private Banking Services for the Next Generation in the World 2026” and “Best Private Bank in Kuwait 2026” from Global Finance magazine, as well as the “Best Regional Investment-Focus in the Middle East 2026” award from MandateWire.

Sustainability and Organizational Excellence

Al-Sager reaffirmed NBK’s continued commitment to advancing its sustainability agenda through the expansion of green financing initiatives and the development of products and services aligned with leading global practices, while supporting the State’s direction toward achieving carbon neutrality by 2060.

As part of its efforts to further enhance the workplace environment, he highlighted the launch of the Diversity, Equity, and Inclusion (DEI) Council during 1Q2026, reflecting the Bank’s commitment to fostering a fair and inclusive workplace that leverages diversity as a source of strength and innovation.

Business Environment

Commenting on the business environment in Kuwait, Al-Sager said: “The business environment demonstrated early signs of improvement at the start of the year, supported by credit expansion, heightened real estate activity, and a surge in project awards. However, recent geopolitical tensions in the region have weighed on the broader outlook, rendering economic prospects more susceptible to elevated uncertainty”.

Al-Sager added that, despite prevailing uncertainty, Kuwait continues to benefit from strong financial buffers that reinforce its capacity to navigate current challenges. He emphasized that the strength of the country’s financial assets, alongside sustained momentum in economic reforms and infrastructure investments in the period ahead, constitute key pillars underpinning the stability of Kuwait’s economy.

He further noted that NBK will continue to reinforce its operational resilience, deepen the diversification of its income streams, and uphold its disciplined and prudent approach, ensuring the sustained creation of value for shareholders and customers across evolving economic conditions.

Al-Sager concluded by commending the recent regulatory and precautionary measures introduced by the Central Bank of Kuwait, underscoring their critical role in further strengthening the stability and resilience of the domestic banking sector and enhancing its capacity to sustain support for the broader economy under prevailing conditions.

Key financial indicators for the financial in1Q2026

  • Net operating income stood at KD 331.2 million (USD 1.1 billion), up 6.6% year-on-year
  • Total assets grew by 10.7% year-on-year, at KD 46.1 billion (USD 150.2 billion)
  • Total loans and advances increased by 10.9% year-on-year to KD 27.3 billion (USD 88.9 billion)
  • Customer deposits grew by 10.0% year-on-year to KD 25.9 billion (USD 84.3 billion)
  • Shareholders’ equity amounted to KD 4.3 billion (USD 13.9 billion), registering an annual growth of 6.0%.
  • Strong asset quality metrics, with NPL/gross loans ratio at 1.35% and an NPL coverage ratio of 241%
  • 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 net profits of USD 1.9 billion (KD 575.6 million) in 2025, while the Bank’s total assets reached USD 149.4 billion (KD 45.6 billion) by the end of December 2025, while shareholders’ equity reached USD 14.0 billion (KD 4.3 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+