Best bank 2025: Kuwait Finance House
Kuwait Finance House (KFH) wins in the best bank category following its landmark merger with Ahli United Bank in Kuwait – the largest banking integration in the country’s history. This strategic achievement strengthened KFH’s regional presence and boosted its competitive standing, contributing to robust year-on-year financial growth.
KFH executed its business strategy well, lifting operating income from KD1.460 billion ($4.7 billion) in 2023 to KD1.631 billion in 2024. Targeted initiatives also helped equity rise from KD5.316 billion in 2023 to KD5.519 billion in 2024.
To stay at the forefront of innovation, KFH launched several customer-centric products, including the Al-Hassad Account, which features frequent prize draws that spur engagement and savings. They also expanded its existing capabilities: continuous upgrades to its KFHOnline platform, plus new transfer options via AFAQ network and the WAMD instant-transfer service, have markedly enhanced the customer experience.
KFH’s progressive outlook extends beyond finance to strong ESG commitments. As a green pioneer in Kuwait, the bank funded projects in energy-efficient housing powered by renewables. This commitment also shines through its comprehensive CSR programme, which supported impactful community and educational initiatives, further weaving KFH into Kuwait’s social fabric.
The bank has also implemented pivotal digital enhancements that streamline operations and secure customer interactions, supporting the widespread adoption of its Shariah-compliant digital banking services.
Best bank for corporate responsibility 2025: Boubyan Bank
Boubyan Bank has established itself as Kuwait’s leader in corporate responsibility through a strategic approach that combines community engagement, support for local enterprise, youth development and health initiatives delivering measurable impact.
The bank’s signature event, the Coffee Festival, drew over 100,000 attendees while showcasing more than 60 Kuwaiti coffee shops – representing a 40% year-on-year increase in local vendor participation. This commitment to nurturing Kuwait’s entrepreneurial ecosystem forms a cornerstone of Boubyan’s corporate responsibility strategy, providing valuable exposure and business opportunities for homegrown enterprises.
Community engagement reached significant scale through the Boubyan Bucket List initiative, which attracted 35,000 participants, while the E-Cup gaming tournament engaged over 1,000 gamers, demonstrating the bank’s ability to connect with diverse demographic segments.
Boubyan’s corporate responsibility portfolio also features its notable Steps campaign, now in its eleventh consecutive year. This programme converted physical activity into tangible social impact, with 4,500 participants collectively logging 168 million steps. For every 1,000 steps recorded, the bank donated KD1 ($3.25) to fund eye-restoration surgeries in underserved countries including Mauritania and Uganda – creating a direct link between healthy lifestyles and sight-saving interventions.
During Ramadan, Boubyan’s Neamaty programme distributed more than 25,000 Iftar meals and 3,000 food baskets to those in need, while the WHOOP fitness challenge engaged 950 participants in promoting health and wellbeing during the holy month.
The bank has reinforced its commitment to corporate responsibility through structural investments, expanding its dedicated CSR team by 100% to seven full-time members, with 40% female representation. Team capabilities are continuously enhanced through regular training, while cross-departmental collaboration ensures corporate responsibility principles are embedded throughout.
Through this multifaceted approach combining large-scale community events, health promotion, entrepreneurial support and targeted philanthropy, Boubyan Bank demonstrates how financial institutions can leverage their resources and community connections to deliver meaningful social impact while engaging stakeholders across Kuwait’s diverse society.
Best bank for diversity and inclusion 2025: National Bank of Kuwait
National Bank of Kuwait (NBK) stands as a beacon of excellence in promoting diversity and inclusion (D&I) across the region. This recognition is a testament to its comprehensive efforts, particularly in empowering female leadership and inclusivity across all spectrums of the workforce and customer base.
With the innovative NBK Rise programme, NBK has made a strong commitment towards female empowerment in leadership positions. The initiative focuses on mentorship, executive sponsorship and strategic succession planning.
Remarkably, 70% of its first cohort participants have risen to more significant roles, indicating successful career advancement facilitated by this scheme. The programme is distinguished by its cross-industry participation, which enhances the growth and development of female professionals beyond the financial sector.
Despite having only one female board member currently, NBK is vigorously actioning plans to enhance female representation on its international boards. This effort includes grooming senior female leaders actively for board roles, reflecting a sustainable approach towards gender diversity in corporate governance.
At the core of its corporate culture, NBK has embedded D&I through various programmes. The Transcendence Leader Coach programme is one notable initiative that not only advocates for inclusion but also engages male executives as active proponents of D&I. This is complemented by mentorship opportunities and unconscious bias training, which together foster an inclusive leadership environment.
Further extending their D&I agenda, NBK has set robust nationalisation objectives, included initiatives for people with disabilities, and implemented progressive policies such as paternity and wellbeing leave. The bank also undertakes regular pay gap analyses to ensure equity, asserting their commitment to fairness and equal opportunity.
Aligning with customer-focused strategies, NBK’s collaboration with Visa on the She’s Next programme champions female entrepreneurs by providing them with grants and mentorship. This initiative not only supports women in business but also integrates D&I into NBK’s service offerings, making a compelling case for their inclusive approach towards clients.
Best bank for ESG 2025: National Bank of Kuwait
In a notable affirmation of its commitment to environmental, social and governance principles, National Bank of Kuwait (NBK) has been recognised as Kuwait’s best bank for ESG. This prestigious accolade underscores the bank’s robust initiatives and achievements in incorporating sustainability across all facets of its operations.
NBK has pioneered the integration of sustainability with innovative financial products, such as the introduction of green mortgage loans and sustainability-linked financing in 2024. These products not only encourage NBK’s clients to make environmentally responsible choices but also align with global green finance trends, underscoring the bank’s role as a forward-thinking institution in the sustainable finance arena.
Further strengthening its commitment, NBK has set a significant target to amass $10 billion in sustainable assets by 2030. By the end of 2024, it reported an impressive growth – a clear demonstration of the bank’s strategic commitment as well as its operational excellence in navigating the sustainable investment landscape effectively.
A landmark achievement in 2024 was NBK’s issuance of its green bond. This initiative, aimed at financing environmental projects, not only catered to the global investors’ growing appetite for sustainable investment options but also reinforced market confidence in NBK’s ESG initiatives.
Beyond financial products and investments, NBK has made commendable strides in embedding ESG principles within its corporate culture. In 2024 alone, the bank dedicated 1,392 training hours to educating its employees on ESG topics, emphasising the importance of sustainability and climate risk management.
A cornerstone of NBK’s ESG strategy is its comprehensive and modular ESG governance framework, instituted with direct oversight from the board. This framework integrates climate and ESG risk management meticulously into the bank’s operational fabric, showcasing NBK’s unwavering commitment to sustainability at the highest levels of its governance.
Best bank for large corporates 2025: National Bank of Kuwait
National Bank of Kuwait (NBK) is recognised as Kuwait’s best bank for large corporates, demonstrating unparalleled leadership in servicing major corporate clients and handling significant proportions of the country’s financial activities.
NBK’s commanding market presence is highlighted by its approximately 70% share of the international corporate market in Kuwait, alongside a robust 90% penetration in the super-large corporate segment. This strong position underscores the bank’s pivotal role in the corporate banking sector and its ability to maintain long-term, high-value corporate relationships.
Adding to its impressive credentials, NBK manages a large percentage of Kuwait’s trade volume, and services a large amount of the diplomatic missions in the country, showcasing not only its extensive reach but also its trusted reputation within both governmental and international circles.
Despite a slight decrease in the number of corporate clients, NBK has successfully increased its total volume of corporate assets. This growth, amid a challenging global financial landscape, speaks volumes about the bank’s resilience and strategic asset management capabilities.
NBK’s significance in the national economy is further evidenced by its role as the house bank for Kuwait Petroleum Corporation, for whom it has arranged substantial financial facilities. These include a notable $1.5 billion loan and a $1.6 billion receivables discounting facility, both of which play critical roles in supporting Kuwait’s principal industry.
On the technological front, NBK is advancing corporate banking with its innovative digital services, where most of corporate banking transactions are now digitised. The bank’s introduction of the hybrid KYC process significantly cuts down client onboarding times, greatly enhancing user experience and operational efficiency.
Best bank for SMEs 2025: Kuwait Finance House
Kuwait Finance House (KFH) has distinguished itself as Kuwait’s best bank for SMEs by demonstrating exceptional innovation in the services it provides to small and medium-sized enterprises.
KFH showcases solid growth dynamics in its micro, small and medium enterprises (MSME) portfolio, which expanded substantially in 2024. This growth not only highlights KFH’s robust support and commitment to this sector but also its pivotal role in fostering the economic fabric of Kuwait by empowering smaller businesses.
The bank’s business health is notably robust, characterised by a low non-performing loan (NPL) rate. This indicates a careful and effective risk assessment process which ensures financial stability and reliability, critical attributes for businesses in the MSME sector that rely on consistent and dependable financial partners.
KFH demonstrates a forward-thinking approach in its array of products and services designed specifically for SMEs. The institution employs more relationship managers dedicated solely to this segment, providing bespoke consultancy that is tailored intricately to the needs of MSME clients.
The level of personalised service is complemented by KFH’s technological advancements, such as the launch of a corporate mobile app and digital onboarding services. These tools facilitate efficient client interactions, highlighting KFH’s leadership in digital transformation and its unparalleled convenience and accessibility to financial services for SMEs.
Best digital bank 2025: Weyay Bank
Weyay Bank has distinguished itself as a leader in digital banking within Kuwait, embodying innovation and customer engagement that sets a benchmark in the sector.
Celebrated as Kuwait’s best digital bank, Weyay Bank has effectively captured a significant portion of the market, boasting a commanding share within the youth demographic. This penetration is bolstered by a substantial surge in new digital consumer accounts over the past year, illustrating its growing appeal and trust among customers.
Transformative in its approach, Weyay contributes to NBK Group’s total brand power, a remarkable feat given its relatively short operation span of just three years. This achievement speaks volumes about its influence and the confidence it instils in its clientele. Furthermore, customer engagement at Weyay Bank is notably high, with most accounts actively funded, reflecting a deep-seated trust and reliance on its services.
Weyay Bank is at the forefront of product innovation, particularly tailored to cater to the needs of younger demographics. It pioneered the Select programme specifically for university students, offering up cashback along with exclusive rewards that promote financial empowerment. Additionally, its cutting-edge product, Weyay Jeel, introduces children aged 8-14 to the foundations of financial management through a gamified approach, including robust parental controls.
In 2024, a notable innovation saw Weyay Bank being the first in Kuwait to introduce fully digital loans, streamlining processes and enhancing customer experience. Another standout offering is the WeHigh Select, a premium prepaid card designed for university students, which includes unique benefits like cashback on daily expenses, discounts on essentials such as fuel and coffee, and access to exclusive events.
Best digital bank for consumers 2025: Al Ahli Bank of Kuwait
Al Ahli Bank of Kuwait (ABK) clinches the accolade as Kuwait’s best digital bank for consumers, showcasing its formidable presence and innovative strides in the digital banking sector.
ABK has demonstrated substantial growth in digital user engagement, a testament to its effective strategy and commitment to adapting to consumer needs. The bank reported a notable increase in digital transactions through its user transfers, a clear indicator of heightened consumer trust and reliance on its digital platforms.
ABK’s dedication to delivering comprehensive digital banking solutions is evident in its robust mobile app enhancements, which combine user-friendly features with stringent security measures. This dual focus not only improves the user experience but also fortifies customer trust in its digital operations.
The bank’s commitment to security is further complemented by its integration of hybrid banking models, addressing a broader spectrum of customer preferences and fostering inclusivity.
Further distinguishing ABK are its innovative customer engagement strategies, such as the introduction of a loyalty programme and digital-exclusive promotions. These initiatives are tailored to reward and encourage continuous usage of digital channels, effectively fostering a shift towards digital-first banking habits. This approach not only benefits the customer with value-added services but also aligns with global trends in digital banking.
ABK’s contribution to financial literacy cannot be overlooked. Its integration of educational content and active support of the Diraya awareness campaign significantly empower its customers. By promoting informed financial decisions, ABK enhances customer experience and trust.
The phased rollout strategy employed by ABK for its digital initiatives stands out as a forward-thinking approach to technological implementation. By prioritising ongoing enhancements based on customer feedback, ABK exemplifies its commitment to continuous improvement and customer-centric innovation.
Best digital bank for SMEs 2025: Boubyan Bank
Boubyan Bank has been recognised as Kuwait’s best digital bank for SMEs, evidencing its dynamic responsiveness to the nuanced needs of small and medium enterprises.
This remarkable achievement is underpinned by its strategic initiatives and measurable achievements across several dimensions of banking and customer service.
The bank’s assertive expansion within the SME sector is impressive, evidenced by a 165% increase in SME clients and a 15% growth in its portfolio.
These figures underscore the bank’s effective engagement strategies and products tailored specifically for small businesses. Credit card usage among SMEs has risen by 104%, thanks to conscientiously developed new product offerings that resonate with small business needs. Use of digital banking services has soared by 57%, while branch transactions have decreased by 29%, reflecting a successful transition to digital platforms.
In terms of innovation in payment solutions, Boubyan Bank’s ePay Service stands out, significantly enhancing transaction convenience and efficiency for SMEs. The service’s ability to support scheduled payments and subscription models has led to a 27% increase in its users. This system, coupled with the comprehensive mobile banking app that delivers over 140 functionalities, empowers SMEs to manage their diverse banking needs quickly and efficiently.
Adding to its suite of innovative solutions, Boubyan Bank has introduced the eRent system for property management and the multiple companies login feature, simplifying multifaceted financial management tasks for SMEs operating multiple accounts. These features not only facilitate ease of transactions but also provide robust support for property management.
The bank’s digital-first strategy is further validated by more than 349,000 digital transactions, totalling $3.49 billion – a testament to its robust platform. Its SME B2B marketplace and strategic partnerships offer exclusive access to services and discounts, further enriching its value proposition to SME clients.
The bank has also shown commendable performance with its cash loan product, reaching 86% of its annual target within just six months, signifying its capability to provide swift and effective financial solutions.
Best investment bank 2025: KFH Capital
KFH Capital has been crowned the best investment bank in Kuwait for 2024, standing out with exemplary performances, especially in the domain of sukuk issuance.
KFH Capital led with breakthrough digital transformations, streamlining client experiences significantly. One such example is its new investment platform which integrates various client services into a single channel, improving accessibility and efficiency in portfolio management, trading and funds.
Additionally, the bank registered a record year of arranging approximately $17.8 billion in sukuk issuance globally. The firm’s adept involvement in high-value deals, such as the $3 billion sukuk for Aramco and a $1 billion arrangement for Al Rajhi Bank, underscores its dominant position.
Beyond the sukuk space, the bank also stood out with its marketing of ijarah real estate funds, which aim to generate attractive returns by venturing into essential and strategic asset classes, such as residential properties in major US urban centres and student housing in London.
Best investment bank for DCM 2025: Kamco Invest
Kamco Invest firmly established itself as Kuwait’s best investment bank for debt capital markets (DCM) in 2024, underpinning its dominance through a remarkable blend of volume, innovation and strategic expansion in Shariah-compliant financing.
Over the last year, Kamco expertly closed nine bond and sukuk issuances worth $4.2 billion. Its performance not only represents an increase from the previous year in volume but also underscores the bank’s robust activity across Kuwait and the broader GCC region, including pivotal markets such as the UAE, Saudi Arabia and Bahrain.
Key among these transactions were landmark deals such as Kuwait’s first and largest perpetual AT 1 capital bond at KD150 million ($488 million), as well its dominance in cross-border GCC sukuk.
Additionally, Kamco’s insightful and adaptive financial strategies shine through its structured blanket funding agreements developed with principal banks, propelling win-win opportunities for issuers and investors.
The bank’s commitment to innovation in DCM is further demonstrated by its significant strides in Shariah-compliant offerings. In 2024, 50% of Kamco’s DCM transactions adhered to Shariah principles, expanding its foothold.
Kamco Invest’s assertive steps in leading and innovating within both the local and GCC debt markets amplify its credentials as the standout leader in Kuwait’s investment banking landscape for DCM.
Best investment bank for ECM 2025: National Investments Company
National Investments Company (NIC) distinguishes itself as Kuwait’s best investment bank for equity capital markets through its pioneering approach and robust execution capabilities in the region’s investment banking sector.
NIC’s flagship undertakings include the highly successful IPO of Beyout Investment Group, which generated over KD767 million ($2.5 billion) in demand, the highest recorded locally in recent years.
NIC also played a key role as co-lead bank in the IPO of Lulu Retail Holdings, valued at $1.7 billion. It led the first-ever issuance of preferred shares in Kuwait for Action Energy Company – valued at $60 million – a fully subscribed transaction that demonstrated NIC’s innovative edge in introducing new financial instruments to the Kuwaiti market.
Technological advancements are evident in its proprietary IPO subscription system, which significantly enhances investor involvement, as shown by the 11x oversubscription rate for the Beyout Investment Group IPO.
This platform has proven instrumental in cultivating long-term value creation, as illustrated by sterling post-IPO performances such as Ali Alghanim, boasting a more than 16.5% increase, and Boursa, which surged by over 118%.
Through these landmark initiatives and consistent technological integration, National Investments Company has not only led substantial, oversubscribed deals but has also fostered a tech-driven, investor-friendly ecosystem that sets the standards high in Kuwait’s equity market.
Best investment bank for M&A 2025: HSBC
HSBC has distinguished itself as Kuwait’s best investment bank for M&A, following its adept handling of a pivotal transaction for ALAFCO Aviation Lease and Finance Company.
As the sole financial adviser, the bank was crucial in steering ALAFCO through a strategic review post-Covid-19, which aimed at unlocking shareholder value by divesting its aircraft assets.
HSBC’s provision of a fairness opinion ensured that the board members of ALAFCO were making a well-informed decision that protected shareholder interests. Further amplifying its role in the transaction, HSBC leveraged its global network, coordinating efforts across key financial hubs in Dubai, Hong Kong and London.
The international collaboration was critical in adhering to a tightly compressed timeline, showcasing HSBC’s robust global infrastructure and its ability to mobilise resources quickly and efficiently across continents.
This deal alone places HSBC high among its peers and illustrates the bank’s acumen in managing significant, complex deals that shape the financial landscape of the regions it serves. HSBC’s prominent ranking on the Dealogic M&A table, holding a 32% market share of deal value in the country, cements its reputation.
Best securities house 2025: Markaz
Markaz takes Kuwait’s best securities house award, following a year of extraordinary financial performance, innovative product introductions, exceptional capital markets execution, and strategic M&A and transaction advisory.
In 2024, Markaz executed $433.34 million in investment banking transactions and reported robust growth in assets under management. This financial uptick was complemented by growth in net profit and total revenue, showcasing the bank’s operational efficiency.
In a market that covets innovation, Markaz led with the introduction of first-to-market financial products. These include the pioneering rollout of exchange-traded options on the Kuwait Stock Exchange, the launch of the country’s first true real estate investment trust (REIT), and innovative financial structures through money market funds and private equity funds of funds.
The bank’s expertise further extends to capital markets execution, where it successfully led the issuance of a tier 2 bond for the Commercial Bank of Kuwait and played a significant role in pre-IPO advisory within the education sector.
In the domain of M&A and transaction advisory, Markaz is at the helm of transformative deals with multiple ongoing mandates across various sectors, including insurance, food and beverage, and healthcare.
