Kuwait Top Banks
Marcopolis.net has been ranking the top banks in Kuwait since 2010, regularly updating the list according to the latest available Kuwait’s banking sector data. Which bank is Kuwait’s biggest Bank? Which one is the best bank in Kuwait? The following list ranks Kuwait’s top banks by assets. Traditionally, the largest bank in Kuwait is NBK, followed by Gulf Bank and Al Ahli Bank of Kuwait. View our latest ranking of banks in Kuwait.
Top Banks in Kuwait
Largest Banks in Kuwait
Marcopolis.net has been ranking the top banks in Kuwait since 2010, regularly updating the list according to the latest available Kuwait’s banking sector data.
Which bank is Kuwait’s biggest bank? Which one is the best bank in Kuwait? The following list ranks Kuwait’s top banks by assets. Traditionally, the largest bank in Kuwait is NBK, followed by Gulf Bank and Al Ahli Bank of Kuwait.
The latest 2017 order of the top ranking banks remains more-or-less unchanged. Out of 5 largest local banks, the NBK topped the list followed by Gulf Bank and Al Ahli Bank of Kuwait. In addition, Boubyan Bank currently appears to be one of the fastest growing banks in Kuwait. The most highly-acclaimed banks excel on their speed of delivering high-end banking services. In line with the trend of the previous years, most banks reduced their NPL ratios and increased profitability.
The main feature of the banking system in Kuwait is the dependence on the large scale public sector projects that are difficult to predict due to Kuwait’s volatile political situation.
According to the latest IMF Country Report on Kuwait issued in January 2017, “the banking system dominates the financial sector and is expected to absorb a large share of government debt instruments. Banks represent more than 80 percent of the financial sector. They are well capitalized, profitable, liquid, and show resilience to various stress scenarios. Banks hold about 8 percent of their assets in cash and cash assets which will determine market capacity, at least in the short run, to absorb further government debt instruments—currently represent only 3 percent of total assets. This will be sufficient to absorb what is currently being envisaged for this years’ issuance without much, if any, crowding out other assets. Beyond this, a larger portfolio of public debt instruments will need to be accommodated by reducing other assets on banks’ balance sheet including credit facilities and foreign assets, which accounted for 62 percent and 22 percent of total banks assets, respectively, as of end June 2016.”
Note: click on the following links to access other top banks lists according to other criteria: Islamic banks in Kuwait, investment banks in Kuwait, foreign banks in Kuwait.
The following is the ranking of the best banks in Kuwait.
The List of Top Banks in Kuwait
| Rank | Company | Country | Industry | Chairman | Total Assets (2016) | Description |
|---|---|---|---|---|---|---|
| 1 | Kuwait | Banking & financial services | Nasser Musaed Al-Sayer | USD 81.6bn | Market Capital as of May 2016 $11.6 Billion USD. The National Bank of Kuwait was the first indigenous bank in Kuwait; all board members and founders were renowned merchants of Kuwaiti origin. It is the largest bank in Kuwait and has established itself as a financial leader in the Arab world. The National Bank of Kuwait has assets of over $43billion USD and a market share of 35%. | |
| 2 | Kuwait | Banking & financial services | Omar Kutayba Alghanim | USD 18bn | Market Capital as of May 2016 $4.6 Billion USD. Gulf Bank is a Kuwait based financial institution providing a wide range of financial and investment services. The bank is structured into four business units including personal, priority banking, business banking and corporate and institutional banking. | |
| 3 | Kuwait | Banking & financial services | Talal Mohamed Reda Yousuf Behbehani | USD 14.4bn | The creation of ABK in 1967 brought together diverse departments which are extraordinary in their individual capabilities as well as in the ways they enhance and complement each other. Whether serving the needs of the retail market through deposit products, the provision of Visa or MasterCard credit services or a comprehensive consumer loan programme, ABK works together to provide superior solutions to their customers’ financial needs. It has a retail network of 22 branches and one overseas branch in Dubai, UAE & Abu Dhabi. Al Ahli Bank of Kuwait is the Best Retail Bank in Kuwait for 2017 as it recently won the prestigious Best Retail Bank in Kuwait award from The Asian Banker for the second year in a row. |
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| 4 | Kuwait | Banking & financial services | Ali Mousa Al-Mousa | USD 13.4bn | Market Capital as of 2016 $2 Billion USD. Commercial Bank of Kuwait is one of the largest financial institutions in Kuwait. Established in 1960 it is the second oldest bank in Kuwait. The Bank is one of the leading lenders to diverse power, construction and infrastructure projects in Kuwait. | |
| 5 | Kuwait | Banking & financial services | Mahmoud Yousef Al-Fulaij | USD 11.53bn | Boubyan Bank belongs to the fastest growing banks in Kuwait. The Bank’s indicators witnessed a remarkable growth during 2016 where the total assets increased to KD 3.5 billion at a growth rate of 11% while the operational revenues increased to reach KD 103.3 million with a growth rate of 13% in addition to the increase in customers’ deposits by 23%, amounting to KD 2.9 billion. |
Top Banking Institutions in Kuwait
| Rank | Company | Country | Industry | Description |
|---|---|---|---|---|
| 1 | Kuwait | Banking & financial services | Dr. Mohammad Y. Al-Hashel – Governor, Chairman The Central Bank of Kuwait was established in 1969 with a mission to lay the foundations and maintain a flexible and stable monetary financial system in the State of Kuwait. |
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| 2 | Kuwait | Banking & financial services | Since the establishment of Kuwait Banking Association (KBA) in 2001, member banks have been working closely to achieve KBA’s vision and mission aiming at boosting cooperation among local banks, and highlighting banks’ role and contributions to the national economy and society development. |