wealth distribution

NBK’s AGM approved distribution of 30% cash dividends and 5% bonus shares



  • Our strong performance helped maximize returns for our shareholders
  • We were committed to maintaining our strategic course by accelerating investment in the innovation and digital transformation
  • We succeeded in creating an impact through a wide range of ESG initiatives
  • NBK is committed to supporting the Government of Kuwait’s development plans and advancing the nation’s agenda for driving economic growth


  • During 2021, we achieved all our goals, despite the continuing challenges in the operating environment
  • As we look to the future, we focus on delivering sustainable and long-term returns for our shareholders.
  • We will always remain committed to achieving responsible and sustainable growth, and sharing our successes with the communities in which we operate
  • Digital transformation strategy was a springboard for regional growth and expansion
  • We are always designing innovative products for our customers and upgrading our infrastructure to be more advanced and innovative
  • We will continue to build on our achievements in the ESG agenda, to remain, as always regarded, a role model, locally and regionally


  • We started bearing the fruits of our efforts in building a digital culture and mindset at Group level
  • We are making significant progress in RPA and increased reliance on AI
  • Launching Weyay is a milestone in our digital transformation journey and preparation for the future
  • We will continue strengthening our wealth management proposition in KSA and linking it to the Group’s global wealth management platform
  • We seek to expand in the retail and wholesale banking in the Egyptian market by investing in digital banking services and acquisition of new customers


  • Weyay is a key pillar in our digital growth and reinforcing our position in the local market
  • Our digital investments represent critical growth avenue in the short- and medium-term
  • NBK supports its clients using its long experience and extensive knowledge of market trends and different business sectors
  • We continued to attract high-caliber national talent and serve the goals of New Kuwait Vision 2035
  • NBK delivered over 41,000 training hours in 2021 for developing its employees

National Bank of Kuwait (NBK) held yesterday (Saturday, 12 March 2022), its annual Ordinary General Meeting (OGM) and Extraordinary General Meeting (EGM) for 2021 with an attendance of 75.46%. The AGM approved the Board of Directors’ recommendation to distribute 30% cash dividends to shareholders (30 fils per share) in addition to 5% bonus shares (5 shares for every 100 shares owned). The general assembly also elected eleven members of the bank’s board of directors for the next 3-year term.

In his speech at the AGM, Mr. Nasser M. Al-Sayer, NBK Group Chairman mentioned that during last year, NBK remained committed to achieving its strategic objectives and goals, namely, to become broadly recognized as the trusted bank of choice in Kuwait, building on its core values, people, and expertise to deliver world-class products and the highest service quality to the customers, whilst also attracting top Kuwaiti talent.

Strategic course

We also were committed to maintaining our strategic course by accelerating investment in the innovation and digital transformation, we seek to grow our business in corporate, consumer and private banking. We also strive to strengthen our geography, products, and services – whilst also leveraging our expanding product portfolio to attract high-net-worth private banking clients, Al-Sayer noted.

Leading position

Al-Sayer continued: “In achieving our goals, we were helped by the improved operating environment in view of easing the restrictions imposed to contain the spread of the COVID-19 pandemic, the state’s improving fiscal standing on the back of rebounding oil prices and increasing consumer spending, supported by loan payment deferrals, stable employment ratios among Kuwaiti nationals as well as reduced overseas travel. This was complemented by the continued support provided by the Central Bank of Kuwait to the banking sector by taking proactive measures that strengthened liquidity levels & capital ratios.”

“In the meantime, NBK remained in a highly attractive market position, as the leading banking Group in Kuwait in terms of assets, customer deposits and customer loans and advances. The bank ranked amongst the 50 safest commercial banks in the world, and the top 10 banks in the region and maintained its position as the most valuable banking brand in Kuwait.”

Supporting national economy

Al-Sayer explained: “Beside its superior financial and operational performance, NBK is committed to supporting the Government of Kuwait’s development plans. In particular, the bank is advancing the nation’s strategic agenda in terms of driving economic growth through the private sector to achieve increasing economic diversification. This includes our contribution to developing and expanding the nation’s financing infrastructure to enable growth in the SME sector and beyond, as well as our role as a key finance facilitator for the establishment of public–private partnerships (PPPs). We are also actively involved in the process of digitizing Kuwait’s economy, as a key partner in the government’s drive to expand the country’s digital innovation.”

ESG initiatives

Al-Sayer emphasized that as part of NBK’s commitment to promote sustainable future growth, we embarked on a new journey to achieve world-class environmental, social and governance (ESG), and initiated intensive planning in 2021 to devise a strategy to guide our sustainability initiatives going forward. Our ESG vision will place sustainability at the heart of our strategy, corporate culture, and operations across the Group.

Significant impact

Al-Sayer mentioned that during 2021, NBK continued to create a significant impact through a wide range of ESG initiatives and partnerships, which included reinforcing the responsibility of our Board committee and subcommittee to overseeing critical ESG issues and collaborating with a number of international financial institutions to develop an overall ESG strategy in this regard.

Al-Sayer extended sincere gratitude to the Bank’s executive management for their successful stewardship throughout 2021. Their dedication to NBK’s strategic objectives has been both admirable and highly effective in realizing our goals in yet another year of challenges.

Al-Sayer also stated that with the end of the current session of the Board of Directors, he has taken the decision not to run for the next elections of the Board. Meanwhile, he wished the new Board of Directors all success and progress in continuing NBK’s prosperous journey towards a future of sustainable growth. He also thanked the shareholders for their consistent support of all of the Bank’s strategic directions

Exceeding expectations

On his part, Mr. Isam J. Al-Sager, NBK Group CEO, said in his speech: “During the past year, we achieved all our goals and exceeded expectations, despite the slowdown in the operating environment and the continued impacts of the pandemic, reflecting our robust business model and strategic focus on diversification.”

The year 2021 was another year of strong growth for our balance sheet, as assets grew by 11.9% year-on-year to reach KD 33.3 billion, whereas shareholders’ equity reached KD 3.3 billion and total loans and advances boosted by 12.7% to KD 19.7 billion, and customer deposits increased by 6.9% to KD 18.3 billion, he added.

During the past year, the Group was able to maintain high levels of capitalization with a capital adequacy ratio of 18.1%, exceeding the minimum regulatory ratios and Basel III requirements.

Asset quality metrics continued to improve, with NPL ratio reaching 1.04%, while the coverage ratio reached 300%, and the return on average shareholders’ equity increased to 10.2%, while the return on average assets grew to 1.15%, he continued.

On the other hand, Boubyan Bank, the Islamic arm…


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