Top List of Banks in Kuwait
The best banks in Kuwait offer a range of financial services and products to both private individuals and businesses. The Kuwaiti banking industry has been rapidly expanding over the past two decades, with new banks opening their doors each year. The Central Bank of Kuwait, which was established in 1969, is the regulator of all the banking services provided by the Kuwaiti banks and other financial institutions.
Banks are moving towards introducing more products and services to meet the growing demands of their clients. The banks in Kuwait are also positively working on enlarging their range of financial products and services to fulfill each and every requirement of their customers.
National Bank of Kuwait
National Bank of Kuwait (NBK), established in 1952, is the first indigenous bank in Kuwait and the largest bank in the Arab world. NBK employs more than 9,000 people and boasts a growing network of over 370 branches spanning five continents, offering a comprehensive range of retail, corporate, and investment banking services to millions of customers worldwide. National Bank of Kuwait has an asset worth KWD 31.0 billion (USD 102.13 billion).
Kuwait Finance House
Kuwait Finance House is the first Islamic bank established in 1977 in the State of Kuwait, and today it's one of the foremost Islamic financial institutions in the world. It focuses on domestic operations. Its main branches are located in Kuwait City, Hawalli, and Salmiya. The bank has an intermediary office in Bahrain called Kuwait Finance House-Kuwait and has subsidiaries in KSA, Turkey, Germany, and Malaysia. Its total assets are accumulated to be KWD 21.22 billion (USD 69.91 billion).
Burgan Bank is one of the leading banks in Kuwait and the Middle East. Established in 1975, Burgan Bank was primarily a financier of international trade and subsequently developed its name for providing creative banking products and services to its valued customers. Burgan Bank is committed to the highest customer service standards, quality, and shareholder value. The bank has over 150 branches, individually designed to cater to the needs of its diverse audience, spread throughout all major cities in Kuwait. Its total asset as of 2021 was KWD 6.90 billion, which is equivalent to USD 22.73 billion.
Founded in 1960, Gulf Bank is one of the biggest leading banks in Kuwait with a broad offering of wholesale banking, consumer banking, treasury, and financial services. This enables it to offer its customers a comprehensive range of innovative and reliable financial solutions designed to help them manage their finances effectively and achieve their goals with branches of over 50 with employers of more than 1000. Gulf Bank has an asset of KWD 6.27 as per the 2021 report, which is around USD 20.66 billion.
Commercial Bank of Kuwait
Commercial Bank of Kuwait is the first local bank established in Kuwait, with operations starting from 1960. With a strong customer focus in mind, CBK has grown over the years and has become a significant player in the local banking sector, with a reputation as one of the most progressive banks. It gives retail, corporate, and investment customers a wide range of banking services. Its products include checking accounts, personal loans, debit cards, car loans, credit cards, wealth management solutions, and many more. The bank operates its own commercial cards business in Kuwait.
Commercial Bank of Kuwait's total assets stand at KWD 4.87 billion( USD 16.04 billion).
aL Ali Bank
With the most extensive branch network in Kuwait, Al Ali Bank helps its customers achieve their banking goals no matter where they are. Within its 37 branches, they provide a wide range of products and services targeted to both individuals and businesses. Clients can also access their Al Ali Bank accounts at any of the 56 ATMs, wholly owned and operated by the Bank. Al Ali Bank has become a leader in providing innovative banking products since its inception in 1967. It boasts of a total asset of KWD 4.81 billion (USD 15.85 billion).
Founded in 2004 by the Ministry of Finance in Kuwait., Boubyan Bank is a Kuwaiti bank offering retail and corporate banking services. It is a subsidiary of the Boubyan Petrochemicals Company and part of the Al-Watani group of companies. As a Sharia-compliant entity, it has more than 4,000 signatory shareholders. They offer personal, home finance, and corporate banking services to customers throughout the country. Its headquarters are located in Al-Saiha Building, Ahmad Al-Jaber Street, Kuwait City, and manages 30 branches. Its total assets from 2021 were KWD 6.77 billion (USD 22.30 billion).
Industrial Bank of Kuwait
Industrial Bank of Kuwait, founded in 1973 as the first bank established in Kuwait by the private sector and listed on the Kuwait Stock Exchange, is keen to have a distinctive presence in all banking areas, locally and internationally. In order to be ahead in technology, the latest state-of-the-art technological infrastructure has been implemented in all sectors of the bank. The newly implemented infrastructure will contribute to the bank's operational efficiency and develop new products and banking services.
Industrial Bank of Kuwait is a leading investment bank with a wide range of products and services with a total of employment of around 179 individuals. Its total assets are KWD 685 million, equivalent to USD 2,26 billion.
Al Ahli United Bank
Al Ahli United Bank competes with some of the biggest banks in the Gulf region. Al Ahli United Bank (AUB) offers a wide range of services and products to individuals, businesses, and corporate clients. Since its opening in 2000, AUB has played a significant role in many major infrastructure projects both in Kuwait and within the region, developing strong ties with local businesses. Today, AUB is a local pioneer in electronically delivered services with an ever-expanding customer base at both retail and corporate levels. AUB manages over 100 branches distributed in different cities. Al Ahli United Bank's assets are KWD 4.30 billion (USD 14.17 billion).
Kuwait International Bank
Founded in 1973, Kuwait International Bank is a leading bank in Kuwait, providing a wide range of banking services and products. KIB operates through 26 branches, and it's one hundred percent subsidiary. KIB was awarded the best bank in Kuwait in 2019 by Euromoney magazine. It has various segments like international and Commercial, Retail, Investment Management, Fund Management, Institutional Banking, and treasury. KIB's total assets as of 2021 were at KWD 2.81 billion (USD 9.26 billion).
How many banks are in Kuwait?
In Kuwait, there are currently 11 local banks. The Kuwait Central Bank supervises the country's banks, keeps the Kuwaiti Dinar stable, and acts as a banker and financial consultant to the government.