Shaikha Al-Bahar, Deputy Group CEO of National Bank of Kuwait (NBK), outlined the bank’s sustained financial growth amid ongoing regional geopolitical tensions, emphasizing the importance of diversification in maintaining resilience. In an interview on October 22, 2026, Al-Bahar reported that NBK posted a net profit of KD 481.7 million ($1.6 billion) for the first nine months of the year. This reflects a rise of more than 3 percent compared to the same period in 2025. Total assets grew by 4.5 percent, while the loan portfolio expanded over 8 percent, underscoring the bank’s ability to adapt to challenging economic and political environments.
Al-Bahar attributed the profit increase to a 4 percent year-on-year revenue growth, improved operating cost efficiency, and a reduction in provisioning charges. She highlighted NBK’s strong balance sheet, asset quality, diverse funding sources, and robust capital ratios as key factors supporting the bank’s performance. The group’s strategy of balanced growth across core business lines and geographic markets has enabled it to mitigate risks linked to regional instability.
The bank’s diversified business model, combined with prudent risk management and a rigorous governance framework, has helped NBK navigate heightened geopolitical uncertainty. Al-Bahar noted that since the outbreak of recent regional conflicts, the bank has focused on operational resilience, client support, and careful monitoring of credit and operational risks across its markets. Access to funding in multiple geographies and long-term client relationships were cited as critical strengths.
Looking ahead, diversification remains central to NBK’s growth plans. The bank aims to expand its international footprint beyond Kuwait, diversify revenue streams, and increase fee and commission income to reduce sensitivity to interest rate fluctuations. Al-Bahar also pointed to opportunities to leverage international operations through enhanced cross-selling of products and services. Key business areas such as consumer banking, wealth management, and non-funded activities like letters of credit and guarantee continue to offer growth potential. Additionally, the bank plans to optimize its asset mix by investing in government debt instruments under Kuwait’s new public debt law, supporting stable net interest margins.
Addressing the impact of geopolitical tensions on Kuwait’s economy, Al-Bahar acknowledged a slowdown in growth compared with pre-crisis levels but asserted that economic activity remains robust. The bank’s international presence has facilitated client expansion across various markets. She further noted strong momentum in Kuwaiti project awards, with approximately KD 3 billion ($9.7 billion) awarded since early 2026, marking a 36 percent increase year-on-year. The pipeline of upcoming tenders is valued at around KD 10 billion ($32 billion), presenting significant financing opportunities for the banking sector.
Al-Bahar also welcomed the recent approval of the real estate financing law, describing it as a positive development that is expected to generate significant medium- to long-term growth opportunities in consumer banking, benefiting both NBK and the wider Kuwaiti banking sector.
Regarding Kuwait’s economic outlook, Al-Bahar remained cautiously optimistic. While near-term growth faces headwinds from ongoing geopolitical tensions, she pointed to the country’s strong economic fundamentals, substantial financial buffers, and the stabilizing influence of its sovereign wealth fund. She indicated that a return to normalcy in maritime shipping routes and oil production levels, potentially surpassing pre-conflict performance, will support the medium-term outlook. Continued demand for inventory replenishment is also expected to sustain oil prices as GCC supply returns to the market.
Al-Bahar concluded that easing regional tensions and progress in development projects and economic reforms will improve growth prospects and have a favorable impact on the banking sector in the medium term.