Overview of Banks in Kuwait
Currently, there are 11 local banks in Kuwait. The Kuwait Central Bank supervises the banks in the country, maintains the stability of the Kuwaiti Dinar, and serves as a banker and financial adviser to the government.
According to Moody’s, Kuwait’s banking system is stable due to the rating agency’s view that government-funded projects will continue to drive economic growth and subsequently boost business for banks.
For anyone considering a career in banking in Kuwait, this list of top banks in Kuwait is a helpful guide on where to start. To learn more, see our lists of financial institutions.
The Top Banks in Kuwait are:
National Bank of Kuwait
Founded in 1952, the National Bank of Kuwait was the first local bank and first shareholding company in Kuwait and the entire Persian Gulf region. The bank operates through its Consumer and Private Banking, Corporate Banking, Investment Banking and Asset Management, Islamic Banking, Group Centre, and International segments. It is headquartered in Kuwait City.
Net income: KWD 246.3 million (2020)
Total assets: KWD 31.0 billion (3/2021)
Kuwait Finance House
Established in 1977, Kuwait Finance House is a wholly-owned subsidiary of Kuwait Finance House-Kuwait. It provides retail banking and finance services, treasury, corporate banking, investment portfolio, and capital markets products.
The bank employs 15,000 staff in its 515 branches. It is present in Bahrain, Malaysia, Saudi Arabia, and Turkey.
Net income: KWD 148.4 million (2020)
Total assets: KWD 21.22 billion (3/2021)
Burgan Bank was founded in 1975 and is providing banking services in Kuwait. It operates through the following segments: Corporate Banking, Private Banking, Retail Banking, Treasury, Investment Banking, and Others.
The bank is a subsidiary of Kuwait Projects Company Holding KSC and is based in Safat. It operates 166 branches and 341 ATMs.
Net income: KWD 33.7 million (2020)
Total assets: KWD 6.90 billion (3/2021)
Established in 1960, Gulf Bank is one of the leading banks in Kuwait. Headquartered in Safat, it manages a network of 50 branches and 300 ATMs throughout the country.
The bank provides services to individual, corporate, and institutional customers. It operates through Commercial Banking, Treasury, and Investments segments. It employs around 1,100 staff.
Net income: KWD 28.8 million (2020)
Total assets: KWD 6.27 billion (3/2021)
Commercial Bank of Kuwait
The Commercial Bank of Kuwait came into existence in 1960 and is the second-oldest of the banks in Kuwait. It provides commercial banking services, including deposits, loans, and credit cards. Headquartered in Safat, the bank operates through Corporate and Retail Banking, and Treasury and Investment Banking segments.
Net income: KWD 0.06 million (2019)
Total assets: KWD 4.87 billion (2019)
Al Ali Bank
Al Ali Bank was founded in 1967 and is headquartered in Kuwait City. The bank provides corporate, retail, and international banking services. It operates 31 branches in Kuwait, two branches in the United Arab Emirates (Abu Dhabi and Dubai), and 39 branches in Egypt.
Net income: KWD -69.7 million (2020)
Total assets: KWD 4.81 billion (3/2021)
Established in 2004, Boubyan Bank is a subsidiary of the National Bank of Kuwait KSCP. The bank provides various banking products and services in the Middle East, North Africa, North America, Europe, and Asia. It also offers Takaful insurance products. It operates through four segments: Consumer Banking, Corporate Banking, Investment Banking, and Treasury. Headquartered in Safat, it manages 30 branches in Kuwait.
Net income: KWD 34.42 million (2020)
Total assets: KWD 6.77 billion (3/2021)
Industrial Bank of Kuwait
The Industrial Bank of Kuwait was founded in 1973 and is headquartered in Al-Sharq. The bank provides conventional and Islamic loans and credit facilities to the industrial sector, conventional and Islamic asset management services, including portfolio and fund management, and conventional and Islamic direct investments in various sectors. It employs around 179 individuals.
Net income: KWD 8.8 million (2019)
Total assets: KWD 685 million (2019)
Al Ahli United Bank
Ahli Bank was formed in 2000. The bank provides retail, commercial, Islamic, investment, and private banking products and services. It also offers global fund management and life insurance services. The company operates through four segments: Retail Banking, Corporate Banking, Treasury and Investments, and Private Banking.
The bank manages 110 branches, including 22 in Bahrain, 38 in Kuwait, 37 in Egypt, 11 in Iraq, and 1 branch in the United Kingdom. It also oversees 20 branches in the Sultanate of Oman and 11 branches in Libya through its managed associates.
Net income: KWD 29.7 million (2020)
Total assets: KWD 4.30 billion (3/2021)
Kuwait International Bank
Founded in 1973, Kuwait International Bank is an Islamic bank. The bank provides several banking services, including deposit-taking, financing transactions, direct investment, and credit cards. It operates through various segments: Commercial and International, Retail, Treasury, Fund Management and Institutional Banking, Investment Management, and Others. It manages 26 branches throughout Kuwait.
Net income: KWD 0.0 million (2020)
Total assets: KWD 2.81 billion (3/2021)
Careers in Investment Banking
To break into investment banking, there are several important things to focus on. These include networking, resume, experience, and financial modeling skills. To learn more, explore our interactive career map:
For banking careers, you will have a significant edge over the competition with our financial modeling courses.
This has been CFI’s guide to the top banks in Kuwait. For anyone looking for a career in banking, this list is a great place to start your networking. Please also see these additional resources: