Kuwait-based Gulf Bank reported substantial progress in sustainability and corporate governance in its 2025 Environmental, Social, and Governance (ESG) Report, underscoring its commitment to reducing environmental impact and fostering national development. The report, titled “Converting to a Sustainable Path,” highlights the bank’s strategic initiatives and operational achievements amid continued expansion within Kuwait, where it operates more than 45 branches and 265 ATMs with total assets of KD 7.7 billion.

In 2025, Gulf Bank achieved a notable reduction in Scope 2 emissions—those generated from purchased electricity—lowering them from 11,390.21 tCO2e in 2024 to 9,514.87 tCO2e, representing a decrease of approximately 1,875 tCO2e. This reduction is equivalent to removing roughly 408 passenger vehicles from the road for a full year. Emission intensity per employee improved by 3.21 percent compared to the previous year, reflecting gains in operational efficiency. The bank also expanded its emissions inventory to include additional categories under Scopes 1 and 3, establishing 2025 as a new baseline for long-term emissions tracking. Total emissions across all scopes reached 16,997.85 tCO2e for the year.

Gulf Bank’s operational sustainability efforts encompassed deploying photovoltaic solar panels at renovated branches, installing electric vehicle charging stations, implementing occupancy sensors, and utilizing a Building Automation System to optimize energy use in HVAC and electrical systems. The bank also conducted a comprehensive energy audit of its headquarters as part of preparations to attain green building certification.

The institution unveiled its Corporate Strategy 2030 to guide future growth and furthered implementation of its Sustainability Strategy 2030, structured around four Pillars: Responsible Governance, Fair Workplace, Community Engagement, and Responsible Banking. Gulf Bank completed a readiness assessment aligning with upcoming IFRS S1 and IFRS S2 sustainability disclosure standards, covering governance, strategy, risk management, and metrics. It also established a Sustainability Management Committee Charter, a Supplier/Vendor Code of Conduct, and launched an internal sustainability communications framework. The board comprises 11 non-executive directors, including four independent members and one woman.

Throughout 2025, Gulf Bank reported no regulatory complaints, corruption cases, marketing compliance violations, or data privacy breaches. Employee coverage for training in privacy and cybersecurity reached 100 percent. The bank maintained strong credit ratings, holding “A” category assessments from Moody’s (A3), S&P Global Ratings (A+), and Fitch Ratings (A), all with stable outlooks, and earned a BBB sustainability rating from MSCI ESG Ratings.

The workforce increased to 1,699 employees, with women accounting for 40.26 percent and Kuwaitization—a national employment initiative—at 70.45 percent. Gender pay ratios were close to parity in entry-level roles but lower at middle and senior management levels. Gulf Bank continued talent development through specialized academies focused on IT and risk management and welcomed 51 trainees as part of its Kuwaitization efforts. The bank is pursuing ISO 45001 certification for occupational health and safety management.

Support for the local economy remained strong, with 97.53 percent of procurement budgets directed to local suppliers. Financing commitments totaled KD 29.1 million for healthcare projects, including expansions at Taiba Hospital and funding for Sama Medical Services Company and Alghanim Healthcare Company. Road infrastructure projects financed by the bank exceeded KD 162 million. Additional indirect financing supported educational and renewable energy initiatives.

Community engagement and financial literacy formed central components of Gulf Bank’s 2025 agenda. The bank renewed a partnership with INJAZ Kuwait for the nineteenth year and continued backing the “Diraya” financial awareness campaign, which reached approximately 35 million individuals. Around 170 employees took part in volunteer activities with organizations such as Bayt Abdullah Children’s Hospice and environmental drives including desert clean-ups. The bank also recycled over 2,300 square meters of advertising materials, converting them into nearly 100,000 reusable bags.

In alignment with regulatory requirements, Gulf Bank instituted a Sustainable Finance Framework to govern green loans, bonds, and sustainability-linked syndicated loan facilities aimed at renewable energy and environmental projects. Digital transformation initiatives advanced, with fully digital account opening, expanded interactive teller machines, drive-through banking, and enhanced ATM accessibility for people with disabilities across Kuwait's governorates.

Gulf Bank’s 2025 achievements reflect a comprehensive approach to integrating sustainability into its business model, combining emissions reductions, governance enhancements, employee development, and community investment to support long-term, responsible growth within Kuwait’s financial sector.