National Bank of Kuwait


The National Bank of Kuwait was founded in 1952. Ii is the largest financial institution in Kuwait, and has branches and subsidiaries in China, Geneva, London, Paris, New York, and Singapore and a regional presence in Lebanon, Jordan, Egypt, Bahrain, Saudi Arabia, Iraq, Turkey, and the UAE.
The Group reported a net profit after non-controlling interests of KD 370.7 million compared to KD 322.4 million for
2017, an increase of 15%. Operating profit amounted to KD 606.9 million as compared to KD 557.2 million in 2017, an
increase of 8.9%.
Net interest income and net income from Islamic financing at KD 690.5 million reflects a 9.8% increase on 2017. Net fees and commissions at KD 150.2 million reflects a 8.4% increase on 2017. Net
gains from dealing in foreign currencies amounted to KD 39 million in 2018 as compared to KD 33.7 million in 2017.
Operating expenses amounted to KD 276.3 million as compared to KD 265.4 million in 2017. The cost to income ratio
for 2018 improved to 31.3% as compared to 32.3% in 2017.
Provision charge for credit losses and impairment losses amounted to KD 179.7 million as compared to KD 188.2
million in 2017.
The return on average equity at 12% in 2018 compared to 10.8% in 2017.

History and profile

The idea of a National Bank of Kuwait started in 1952; a meeting was held with the Amir of Kuwait, Abdullah Al Salem Al Sabah, who issued a decree on 19 May 1952 to establish the National Bank of Kuwait, and NBK started operating through a small branch on 15 November 1952. NBK grew to be one of the largest banks in the region.
NBK reported net profits of USD 898.7 million for the first nine months of 2018 on the net growth of 14.3% year-on-year. NBK has 68 branches in Kuwait, and a total of 143 branches worldwide. It has branches, subsidiaries and representative offices in Geneva, London, Paris, New York, Singapore, and China, and a regional presence in Lebanon, Jordan, Iraq, Egypt, Bahrain, Qatar, Saudi Arabia, UAE, and Turkey.

Subsidiaries

NBK was the first bank in the Middle East to establish an international advisory board. The Bankers' Roundtable is a subgroup comprising the banking and financial specialist contingent of the parent Advisory Board.

NBK Chairmen

YearsChairman Name
1952–1955Khaled Al Zaid Al Khaled
1956–1958Ahmed Saud Al Khaled
1959–1964Abdulaziz Hamad Al Sager
1965–1979Yaqoub Youssef Al Hamad
1980–1992Mohammed Abdulmohsin Al Kharafi
1993–2014Mohammed Abdulrahman Al Bahar
2014-Nasser Musaed Abdulla Al Sayer