National Bank of Kuwait (NBK) reported a net profit of KD 315.3 million (USD 1.0 billion) for the first half of 2025, reflecting a 7.8% increase compared to KD 292.4 million (USD 957.8 million) in the same period last year. Profit before tax rose by 17% to KD 401.5 million (USD 1.3 billion), up from KD 343.1 million (USD 1.1 billion) in the first half of 2024.
As of June 2025, NBK’s total assets increased by nearly 16% year-on-year to KD 43.6 billion (USD 143 billion). Total loans and advances grew by over 12%, reaching KD 25.5 billion (USD 83.5 billion). Customer deposits also saw an annual rise of about 9.5%, totaling KD 23.9 billion (USD 78.2 billion), while shareholders’ equity climbed more than 10% to KD 4.2 billion (USD 13.9 billion).
The Board of Directors decided to retain interim earnings until the end of the year, with plans for a final dividend distribution at that time, citing a focus on strengthening the balance sheet and maintaining flexibility in capital adequacy.
Commenting on these results, Hamad Al-Bahar, NBK Group Chairman, said: “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 added that NBK’s robust balance sheet and asset quality support sustainable profitability and returns for both shareholders and customers while supporting local communities.
He highlighted several milestones achieved during the first half of the year, including NBK’s selection as Kuwait’s Main Settlement Bank after meeting technical requirements set by Kuwait Clearing Company and receiving top ratings in the Central Counterparty Project.
On sustainability efforts, Al-Bahar noted upgrades in NBK’s ESG ratings by agencies such as Morningstar Sustainalytics and MSCI, along with publication of an allocation and impact report for its USD 500 million green bond issued in June 2024—the first such issuance in Kuwait—detailing how proceeds were allocated through March 2025.
Isam J. Al-Sager, NBK Group Vice Chairman and CEO, stated: “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.”
Al-Sager reported that net operating income reached KD 631.4 million (USD 2.1 billion), up by just over three percent year-on-year for core business segments during this period.
He credited contributions from International Banking Group operations as well as Boubyan Bank—the Islamic banking arm—for supporting profitability alongside NBK Wealth’s continued leadership in wealth management within Kuwait and regionally.
The bank introduced new digital services aimed at improving customer experience during this period while continuing investments in technology to maintain competitiveness domestically and expand internationally.
Regarding capital markets activity, Al-Sager referenced strong demand for NBK’s recent USD 800 million Additional Tier 1 bond issue; orders peaked at USD 2.2 billion with subscriptions exceeding two-and-three-quarters times available supply due to broad investor interest.
Looking ahead at Kuwait’s economy, Al-Sager expressed cautious optimism about project activity given government plans for large-scale infrastructure projects under its development plan—including Mubarak Al-Kabeer Seaport expansion at Kuwait International Airport T2 terminal—and anticipated legislative reforms such as mortgage law approval aimed at empowering private sector participation under Vision 2035.
During this reporting period, NBK received multiple awards recognizing it as Best Bank in Kuwait—alongside accolades for retail banking excellence and SME services—from MEED International Magazine; Euromoney magazine also honored it for ESG leadership among other categories.
