National Bank of Kuwait SAKP (NBK) Q4 2025 earnings summary

Executive summary

• Net profit for FY 2025 was reported as KD 576 million by some sources and KD 615.9 million by others, reflecting a year-over-year decline, with Q4 2025 net profit at KD 108 million.

• Profit before tax rose 5% to KD 735 million in 2025, and net operating income increased 3.6% to KD 1,297 million.

• Return on average equity declined to 13.4% and return on average assets to 1.33% in 2025.

• Consolidated financial statements for 2025 were audited and present a fair view in accordance with IFRS as adopted by the Central Bank of Kuwait.

• No material misstatements or regulatory violations were found during the audit.

Financial highlights

• Net interest income grew to KD 1,000 million, and non-interest income rose 10% to KD 297 million in 2025.

• Total assets increased 13% year-over-year to KD 45.6 billion, with loans and advances up 13% to KD 26.8 billion.

• Customer deposits rose 14% to KD 26.1 billion.

• Basic earnings per share was 64 fils, compared to 66 fils in 2024.

• Total comprehensive income for the year was KD 729.2 million, up from KD 569.4 million in 2024.

Outlook and guidance

• 2026 guidance projects low double-digit loan growth, contracting net interest margin, and cost to income ratio in the high 30s.

• Cost of risk expected to rise to around 40bps in 2026 from 15bps in 2025.

• The Group is evaluating the impact of new IFRS standards effective in 2026 and 2027, with adoption planned upon effectiveness.

• Management continues to monitor macroeconomic conditions and regulatory changes, including tax reforms and capital adequacy requirements.

• Capital adequacy ratio expected to remain robust at 17%.