Kuwait’s banking sector recorded combined net profits of 922.2 million dinars in the first six months of 2026, up 4.6 percent from 881.8 million dinars in the same period last year, according to statistics compiled by Al-Rai based on the financial results of nine banks that announced their first-half results.
The sector’s profits increased by 40.36 million dinars year-on-year, highlighting the continued strength of banks’ financial performance and their ability to maintain profitability levels.
Traditional banks accounted for the largest share of total sector profits, generating 462.7 million dinars, or 50.18 percent of the overall total. Banks operating in accordance with Islamic Sharia recorded combined profits of 459.5 million dinars, representing 49.82 percent.
Overall banking profitability was supported by several factors, most notably a 7.82 percent year-on-year increase in the combined operating revenues of the nine banks. Operating revenues reached 2.35 billion dinars, compared with 2.18 billion dinars in the first half of last year.
The assets of the listed banks also increased by 7.36 percent, or 9.6 billion dinars, to reach 140.03 billion dinars, compared with 130.43 billion dinars a year earlier.
KFH and NBK lead banking profits
At the individual-bank level, Kuwait Finance House recorded net profits of approximately 363.05 million dinars, an increase of 6.1 percent from 342.15 million dinars in the first half of 2025.
National Bank of Kuwait posted net profits of approximately 324.78 million dinars, compared with 315.26 million dinars a year earlier, representing growth of 3.02 percent.
Together, the two banks accounted for approximately 76.6 percent of the Kuwaiti banking sector’s total first-half profits, with combined earnings of 687.83 million dinars.
Commercial Bank of Kuwait reported net profits of approximately 62.28 million dinars, up 3.18 percent from 60.36 million dinars.
Boubyan Bank recorded profits of 54.72 million dinars, an increase of 4.6 percent from 52.3 million dinars. The National Bank recorded profit growth of 16.9 percent, with earnings reaching 37.09 million dinars compared with 31.73 million dinars.
Warba Bank’s profits increased by 18.9 percent to 24.18 million dinars, from 20.33 million dinars, while Gulf Bank’s profits rose 14.1 percent to 27.43 million dinars, compared with 24.04 million dinars.
Kuwait International Bank reported profits of 17.54 million dinars, representing growth of 18.2 percent from 14.84 million dinars. Burgan Bank recorded net profits of 11.12 million dinars.
Second-quarter profits rise 7.68%
Kuwait’s local banks also maintained profit growth during the second quarter of 2026. Combined net profits for the quarter rose to 513.24 million dinars, compared with 476.6 million dinars in the same period last year. This represents an increase of 36.64 million dinars, or 7.68 percent year-on-year.
Traditional banks again accounted for the larger share of second-quarter profits, generating 270.56 million dinars, equivalent to 52.7 percent of the sector’s total quarterly profits.
Islamic banks recorded combined profits of 242.68 million dinars, representing 47.3 percent of the sector’s total profits during the second quarter of 2026.
