Kuwait oil price down 13 cents to $71.29 pb
Globally, the prices of the Brent crude and West Texas Intermediate both went down respectively by seven and 14 cents to settle each at USD 69.21 per barrel and USD 67.20 pb.
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Vice Chairman and Group CEO Speaks on the Sidelines of the 1H2025 Analysts' Conference Call Our loan portfolio recorded Strong growth, both in Kuwait and through our international operations Our regional and global footprint continues to play a key role in mitigating risks and sustaining earnings stability Confident in our ability to navigate challenges, we draw strength from our resilience and strategic investments in technology The outlook for project activity in Kuwait remains promising, with positive momentum expected to continue Effective capital planning remains a top priority to ensure we are aligned with our long-term growth objectives Focusing on year-end dividend distribution gives us the flexibility to capitalize on growth opportunities as they arise Our commitment to sustainability remains steadfast as we make meaningful progress on our sustainable finance roadmap Ronghe: The Group maintains strong operating momentum, fueled by robust growth in business volumes Sustained strength in our loan portfolio reflects high asset quality and prudent diversification strategy Mr. Isam Al-Sager, Vice Chairman and Group Chief Executive Officer of National Bank of Kuwait (NBK), stated that the Bank reported a net profit of KD 315.3 million for the first half of 2025, marking a 7.8% increase from KD 292.4 million in the corresponding period of 2024. 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He explained that the Bank is confident in its ability to adapt and maintain its leadership in the local market, highlighting its readiness to navigate economic headwinds and emerge even stronger, supported by its resilience, continued investment in technology and innovation, and steadfast commitment to meeting the evolving needs of its customers. Dividend Distribution Policy Regarding the dividend distribution policy, Al-Sager stated that NBK's approach remains unchanged, maintaining a sustainable framework that strikes a balance between delivering attractive shareholder returns and prudently managing capital ratios. He added that the Bank continues to prioritize effective capital planning to ensure capital levels align with its future growth ambitions, an approach it has consistently upheld and will continue to follow going forward. Al-Sager stressed that the Bank remains committed to its approved dividend policy, noting that in light of the strong growth in its loan portfolio both locally and internationally, the Bank has opted to retain interim profits until year-end, with a focus on year-end final dividend distribution. This approach provides greater flexibility to capitalize on growth opportunities as they emerge throughout the year, in alignment with the Bank's strategic priorities. He pointed out that NBK's regional and international presence plays a vital role in mitigating risks, sustaining stable returns, and enhancing operational efficiency. Furthermore, he added that the Bank remains focused on leveraging cross-selling opportunities across its diverse geographical footprint. At the same time, its wealth management arm will continue to capitalize on deep expertise to deliver a comprehensive suite of portfolio management, advisory services, and investment solutions. 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He stressed that NBK Group continues to leverage its unique competitive advantages among Kuwaiti banks, particularly its broad geographic footprint and its ability to operate across both conventional and Islamic banking. Amid growing concerns over the impact of the ongoing tariff war and its implications for the global business landscape, Ronghe explained that NBK remains well-positioned to navigate this volatile environment, a testament to the strength and resilience of its diversified business model. Regarding the catalysts for loan growth during the first half of 2025, Ronghe stated that corporate credit was the primary driver, emphasizing that demand was not concentrated in any single geographic area. Instead, it was well distributed across NBK's network, including the GCC region, international markets, and Boubyan Bank.
