Berliner Boersenzeitung - KIB Group nine-month profit rises 30% to KD 26.6 million

KIB Group recorded KD 26.6 million in net profit attributable to Kuwait International Bank shareholders for the nine months ended September 30, 2026, Chairman Sheikh Mohammed Jarrah Al-Sabah said. Profit rose 30% from KD 20.4 million in the corresponding period of 2025.

Earnings per share increased to 13.51 fils from 9.98 fils. Third-quarter profit attributable to shareholders was about KD 9 million, representing growth of 62%.

Al-Sabah said the results reflected continued growth despite rapid regional developments affecting markets. He attributed the performance to the bank’s focus on business quality, broader income sources, operational efficiency and prudent risk management, as well as its experience in Islamic banking and capital markets.

Total assets rose 8% to KD 4.74 billion as of September 30, 2026, from KD 4.37 billion a year earlier. The financing portfolio increased by KD 269 million, or 8%, to KD 3.48 billion from KD 3.21 billion. KIB’s investment portfolio, including high-quality sukuk, grew 12% to about KD 582.7 million from KD 520.4 million.

Vice Chairman and Chief Executive Raed Jawad Bukhamseen said net fee and commission income climbed 33% to KD 10.3 million from KD 7.7 million. Net investment income rose 4% to KD 4.5 million, helping total operating income increase 7% to KD 69 million.

Bukhamseen said the results also reflected work to build a more diversified and resilient business model, improve service quality and operational efficiency, and invest in employees and technology. The bank continued developing products for changing customer needs while expanding its activity in regional capital markets.

Customer deposits grew 2% to KD 3.08 billion from KD 3.03 billion, while total shareholders’ equity increased 1% to KD 374 million from KD 371 million. The total capital adequacy ratio stood at 20.32% under Basel III requirements, and the liquidity coverage ratio was 238.1%.

In September, KIB priced its inaugural $500 million five-year senior unsecured sukuk under a $1.5 billion programme. Orders reached about $1.2 billion, or 2.4 times the issue size. The final spread was 95 basis points over US Treasury yields and the annual profit rate was set at 5.502%.

Through KIB Invest, the group also acted as a joint lead manager on a $2.75 billion international sukuk guaranteed by the Saudi government for the Saudi Real Estate Refinance Company.

KIB was named Best Bank for Real Estate Banking Services and Innovation in PropTech in Kuwait for 2026 by the World Union of Arab Bankers. It also received the IFN Kuwait Deal of the Year 2025 and IFN Regulatory Deal of the Year 2025 awards for its $300 million Tier 2 sukuk.

The real-estate banking and PropTech honour was presented during the Arab Banks Awards and Commendations of Excellence 2026. The two Islamic Finance News awards were presented in Dubai and recognised the significance of KIB’s Tier 2 issue in Islamic capital markets.

The chairman and chief executive said the group would continue developing its main businesses, diversifying income, improving efficiency, investing in technology and customer experience, and maintaining a balanced approach to capital, liquidity and risk. They also thanked the Central Bank of Kuwait, Capital Markets Authority, directors, management and employees for their roles.

(K.Müller--BBZ)