National Bank of Kuwait-Bahrain (NBK-Bahrain) reported net profit of BD139.81 million ($370.85m) for the financial year 2024, compared to BD132.79m ($352.23m) in 2023.

As of the end of 2024, NBK-Bahrain’s total assets stood at BD7.75 billion ($20.56bn) compared with BD7.08bn ($18.78bn) in 2023.

Total shareholders’ equity increased by 11 per cent year-on-year to BD1.35bn ($3.58bn), whereas customers deposits stood at BD3.29bn ($8.73bn) by end of December 2024.

Commenting on NBK-Bahrain’s year-end financial results, NBK Group vice-chairman and chief executive Isam Al Sager said: “NBK Bahrain realised good profits in FY 2024, despite heightened geopolitical tension regionally and globally. This underscores our resilient business model and robust financial standing.”

He added: “Our profits last year were driven by the expansion of the bank’s operational activity. Moving forward, we aim to bolster this momentum by broadening our presence and operations in the Bahraini market, capitalising on the promising growth opportunities and favourable outlook that this market offers.”

Mr Al Sager further said: “Our international operations are key contributors to the Group’s profits and its exceptional operating results over the past year, which proves our resilient business model, and at the same time, the success of our regional expansion strategy in hedging against the risks and fluctuations, and its contribution to diversifying income sources.”

He also emphasised that the group has consistently expanded its customer base by introducing innovative digital products and services that meet international standards, delivering exceptional customer experiences, and maintaining strategic investments in technology and innovation. These efforts reaffirm the bank’s leadership in digital banking and its commitment to driving sustainable future growth.

Meanwhile, NBK-Bahrain general manager Ali Fardan said: “NBK-Bahrain’s results for 2024 prove our focus on strategic goals, sustained business growth and leading position in the Bahraini market, despite the challenges faced during this year.”

Mr Fardan pointed out that the bank is moving steadily in strengthening its position in Bahrain by providing high-quality banking and financial services to its retail and corporate customers, noting that the bank has great potentials to achieve further growth in the Bahraini market in the future.

“Over the course of the year, NBK-Bahrain has been successful in providing various high-quality banking products and services that effectively helped meet customers’ needs and enrich their banking experience,” he added.

Furthermore, Mr Fardan added that NBK-Bahrain boasts a highly skilled and experienced professional team that plays a key role in driving its operations and maintaining the highest standards of service for all customer segments. At the same time, this expertise positions the bank for continued growth in the years ahead.

He praised the Central Bank of Bahrain’s efforts, in particular, and all government agencies, in general, for their continued support extended to NBK-Bahrain and the Bahraini banking sectors.

Mr Fardan also highlighted that the great support extended by NBK Group has contributed to strengthening the bank’s performance, through capitalising on NBK’s high credit ratings, broad relationship network, and leading reputation as one of the top banks in the Middle East, and one of the safest banks in the world.

Get Noticed.

Send us your company’s news today and they could be featured on ABC’s Community News tommorow.