NBK ‘the Diamond Sponsor' for Kuwait Sustainable Energy Week Conference
NBK's sustainability team participated in a discussion panel titled 'Accelerating Sustainability through Green Projects and Businesses' to highlight the bank's leadership in green projects and its continuous efforts to fully integrate sustainable practices within its operations and institutional culture, further contributing to achieving sustainable development as per international practices.
The conference aimed to strengthen regional cooperation in essential fields such as research and development, advanced technologies in renewable energy sectors, energy efficiency, sustainable energy applications, in addition to the latest environmental technology tools. Moreover, it aimed to shed light on the most recent national innovations and initiatives in the fields of energy, water, and the environment, and enhance fruitful cooperation with international organizations, prestigious scientific research centers, and leading energy companies.
The conference included in-depth workshops and discussions about the latest international developments in energy policies and the effective ways of contributing to developing strategies that further support clean energy transformation and sustainability goals in the region. It should be noted that this conference is a great platform for interactive exchange of ideas and innovative insights on clean energy transformation, which further enhances effective collaboration between the public and private sectors. As for the community, the conference raised awareness and encouraged innovation about using renewable and sustainable sources of energy and highlight its positive effect upon economic growth, such as attracting local and international renewable energy investments.
Many topics were explored in the conference, the most significant of which were policies that support investments in sustainable energy projects, ways of building a sustainable future for coming generations, the exchange of knowledge among participants, the latest international trends in clean energy transformation, and awareness and innovation in this field. NBK's participation in this event reflects its commitment to boosting sustainable development and supporting a low-carbon economy in alignment with Kuwait Vision 2035 and international sustainable development goals, as it believes in the importance of the collaborative efforts of all sectors to achieve a safe and sustainable future for all.
The bank has come a long way in our sustainability and clean-energy transformation efforts, asit made remarkable progress in the four pillars of the bank's environmental, social and institutional governance strategy which include Governance for Resilience, Responsible Banking, Capitalizing on Capabilities, and Investing in Communities. All these have contributed to enhancing NBK's leading role in building a better and more sustainable future. Moreover, NBK is keen on cooperating with strategic partners to constantly support sustainable practices and promote Kuwait's agenda for lowering carbon emissions and relying on renewable energy.
NBK emphasizes its commitment to long-term sustainable practices and low operational effects by implementing low-carbon and energy efficiency initiatives, as this has helped the bank move in the right direction towards achieving low operational emissions and ultimately carbon neutrality by 2060. It is noteworthy that NBK received several prestigious classifications from international institutions, which highlights its commitment to sustainability and governance, confirms its progress in integrating ESG standards in its core strategy, and enhances its leading role in implementing the best international practices.
On the sidelines of the conference, Dr Sabeeh Al-Mukhaizeem, Minister of Electricity, Water, Renewable Energy honored NBK in appreciation of its sponsorship of the 'Kuwait Sustainable Energy Week' Conference, as well as its efforts in supporting sustainability initiatives, enhancing the future for upcoming generations, and effective contributions towards clean energy transformation locally and regionally.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Kuwait Times
a day ago
- Kuwait Times
KD 174.6 million stc's revenues for six months ended June 30, 2025
Net profit increased by 2.7% to KD 17.3m • stc's customer base reaches 2.2m KUWAIT: Kuwait Telecommunications Company (stc), a world-class digital leader providing innovative services and platforms to customers and enabling the digital transformation in Kuwait, announced its financial results for the six months period ended June 30, 2025, highlighting the most significant achievements as well as the financial and operational performance. In this regard, Eng Muataz Abdullah Aldharrab, the company's CEO, stated: 'By the grace of Allah, Kuwait Telecommunications Company (stc) delivered strong operational and financial results during the first half of 2025, reflecting the strength of its strategic plan focused on quality growth, operational efficiency, and the flexibility of its business model. As part of its efforts to expand market share, stc continued to roll out advanced and innovative solutions that cater to the needs of both individual and enterprise customers. The company is also enhancing its technical capabilities, aligning with the increasing demand for digital services and reaffirming its commitment to delivering sustainable and added value to all customer segments.' Commenting on stc's key achievements during the first six months of 2025, Eng. Aldharrab, stated:' The second quarter of 2025 marked a new phase of progress and excellence for stc, reflected in a series of high-quality milestones that reflect the company's ambitious vision and strong commitment to providing the best-in-class digital services and products. In this context, it is worth highlighting that Kuwait stands at the forefront of global innovation as one of the first countries to adopt 5G Advanced in June 2025, representing a key step toward upgrading the digital infrastructure. This reaffirms Kuwait's leadership in next-generation technologies and solidifying its status as a premier digital hub in the region. Consequently, stc launched its 5G Advanced network to provide an exceptional digital experience, in line with its ongoing commitment to supporting Kuwait Vision 2035 through more precise connectivity, faster speeds and smarter networks. While 5G Advanced represents the evolution of 5G technology which is poised to transform the digital experience for both individuals and businesses, this cutting-edge advancement will offer users enhanced capabilities to improve their operations and online activities, paving the way for the widespread adoption of intelligent solutions across multiple industries. As part of its efforts to strengthen its market position and enhance institutional performance within a framework of effective governance and social responsibility, stc obtained the ISO 45001:2018 certification for implementing international standards in occupational health and safety management. This achievement affirms the company's commitment to providing a safe and healthy work environment for its employees and ensuring operational efficiency at the highest global standards. Additionally, during the second quarter, stc launched the third edition of its flagship accelerator program 'inspireU,' designed to support tech startups and small and medium-sized enterprises (SMEs) in Kuwait. The program aims to empower them to reach new levels of growth and innovation, in line with stc's strategic framework that focuses on enabling entrepreneurs to enhance digital innovation and business growth in the region.' Commenting on the financial results for the period ended June30, 2025, Eng Muataz Aldharrab stated: 'stc delivered strong financial performance during the first half of 2025, supported by sustainable growth across its operating segments. Total revenue reached KD 174.6 million during the first half of 2025, representing a growth of 5.2 percent compared to KD 166.0 million during the same period last year. This growth was primarily driven by the rise in the consumer segment revenues, which accounted for 77 percent of total revenue. Meanwhile, the enterprise segment contributed to 23 percent of total revenue, supported by ongoing efforts to enhance the company's business model, digital services, and providing integrated technological solutions that meet the needs of companies across various industries.' Aldharrab added: 'These results led to an increase in EBITDA by 5.7 percent, reaching KD 45.5 million during the first half of 2025, compared to KD 43.1 million in the same period of 2024, driven by higher revenues and improved operational efficiency. Net profit amounted to KD 17.3 million (earnings per share of 17 fils) during the first half of 2025, representing a growth of 2.7 percent, compared to KD 16.9 million (earnings per share of 17 fils) during the same period in 2024. This resilient financial performance reflects the company's success in cost management, balancing growth with future investments, and capitalizing on the accelerated digital transformation in the local market. Along with the continued focus on efficiency and innovation, the solid results highlight stc's ability to enhance profitability and achieve sustainable growth. It is also worth noting that stc's customer base reached approximately 2.2 million by the end of June 2025.' Commenting on the company's financial position as of June 30, 2025, Aldharrab stated: 'The company's total assets reached KD 470.4 million by the end of the first half of 2025, while total shareholders' equity stood at KD 222.9 million, reflecting a solid financial position and a stable capital structure. stc continues to maintain strong financial solvency, ranking among the best in the telecom sector across the region. This enables the company to pursue growth and expansion projects without compromising financial stability. The strength of stc's financial position allows it to respond flexibly to future opportunities and market shifts while supporting its expansion strategies in line with its vision for digital transformation and sustainable growth, striking a balance between investment-driven growth and operational returns. Through this approach, stc aims to diversify its revenue streams, enhance cost and resource management efficiency, and generate sustainable and rewarding returns for its shareholders. The company is also committed to closely monitoring and analyzing key performance indicators, while executing its operational and investment initiatives with high efficiency, relying on its advanced digital infrastructure and well-structured long-term growth plans. These efforts reflect stc's commitment to upholding the highest standards of governance and internal control, fostering a culture of transparency and institutional excellence, and ensuring business continuity while strengthening the company's ability to achieve excellence and competitive superiority in a rapidly evolving business environment.'
Kuwait Times
a day ago
- Kuwait Times
NBK reports KD 315.3 million in net profit for six-month period of 2025
NBK reports KD 315.3 million in net profit for six-month period of 2025 Bank's strong performance reflects its ability to navigate varying economic conditions KUWAIT: National Bank of Kuwait (NBK) has announced its financial results for the six-month period ended June 30, 2025, reporting a net profit of KD 315.3 million ($1.0 billion), compared to KD 292.4 million ($957.8 million) for the corresponding period in 2024, marking a year-on-year increase of 7.8 percent. Profit before tax reached KD 401.5 million ($1.3 billion) during the period, marking a 17.0 percent increase compared to KD 343.1 million ($1.1 billion) in the corresponding period of 2024. As of the end of June 2025, total assets rose by 15.9 percent year-on-year to KD 43.6 billion ($143.0 billion), while total loans and advances grew by 12.1 percent year-on-year, reaching KD 25.5 billion ($83.5 billion). Customer deposits grew by 9.5 percent on an annual basis, reaching KD 23.9 billion ($78.2 billion) by the end of June 2025. Meanwhile, shareholders' equity reached KD 4.2 billion ($13.9 billion), reflecting a growth of 10.3 percent year-on-year. The Board of Directors has opted to retain interim earnings till year-end, focusing on end of year final dividend distribution. The decision reflects the Board's commitment to strengthening the Group's balance sheet in seizing promising growth opportunities across its operating markets, particularly in light of the anticipated pickup in business activity in Kuwait, while maintaining flexibility in managing interim capital adequacy ratio. A robust strategy Commenting on the Bank's 1H2025 financial results, Hamad Al-Bahar, NBK Group Chairman stated, 'NBK's strong performance reflects its ability to navigate varying economic conditions, even amid heightened geopolitical challenges and global trade tensions stemming from recent US tariffs. The Bank's solid operational results underscore the strength of its well-established strategy, anchored in a diversified business model and prudent risk management.' Al-Bahar emphasized that NBK's strong balance sheet, solid capital base, and high asset quality reinforces the Bank's ability to deliver sustainable profitability and optimal returns for shareholders and customers, while continuing to support the prosperity of the communities in which it operates. Al-Bahar noted that the Bank achieved several milestones across various areas during the first half of the year, most notably its selection as Kuwait's Main Settlement Bank. He emphasized that this recognition reflects years of continuous investment in enhancing the Bank's digital infrastructure, which qualified NBK to meet the technical and operational requirements set by Kuwait Clearing Company (KCC); securing the highest ratings among participants in the Central Counterparty Project (CCP). Reflecting its long-standing commitment to sustainability, Al-Bahar noted that NBK has continued to make significant strides toward a more sustainable future. He pointed to recent upgrades in the Bank's ESG ratings by leading global agencies, including Morningstar Sustainalytics and MSCI, as clear recognition of NBK's dedication to environmental stewardship, social responsibility and sound governance practices. This was reinforced by the publication of the first allocation and impact report for its debut USD 500 green bond issued in June 2024, which is the first issuance of its kind in Kuwait. The report provides relevant information that highlights the allocation of proceeds from the green bond as of March 31, 2025 and the estimated environmental impact during the reporting period. Isam J Al-Sager NBK Group Vice Chairman and CEO Hamad Al-Bahar NBK Group Chairman Sustainable growth Meanwhile, Isam J Al-Sager, NBK Group Vice Chairman and CEO, said: 'Once again, NBK continues to affirm the resilience of its business model and its agility in navigating a shifting operating environment, consistently delivering profit growth across economic cycles. This performance underscores the strength of the Group's geographic diversification strategy and the effectiveness of its long-term approach to driving sustainable growth.' He noted that the Bank delivered solid operating performance across its core business segments during the first half of 2025, with the Group's net operating income rising by 3.1 percent year-on-year to reach KD 631.4 million ($2.1 billion). Al-Sager highlighted the strong contribution of the International Banking Group (IBG), as well as Boubyan Bank — the Islamic banking arm of NBK — to the Group's net operating income and profitability during H1 2025. In addition, NBK Wealth continues to strengthen its position as the leading wealth management firm in Kuwait and among the largest in the region; offering a comprehensive suite of private banking, wealth and investment management solutions and advisory services through an integrated global network. During the first half of 2025, NBK continued to deliver an enriched banking experience, underpinned by innovative solutions tailored to meet evolving customer needs. The Bank further reinforced its digital leadership by introducing a suite of carefully designed digital services and products aligned with customer expectations. He added that NBK remains committed to investing in technology and innovation as a core driver of growth, underscoring the Bank's focus on strengthening its competitive edge in the domestic market and expanding its presence across international markets. Regarding NBK's recent $800 million PNC6 Additional Tier 1 bond issuance, Al-Sager emphasized that strong investor demand afforded the Bank a notable pricing advantage. He noted that the order book peaked at $2.2 billion, with subscriptions exceeding 2.75x the issue size; driven by solid interest from a diverse base of global investors and financial institutions. The operational environment Commenting on the local operating environment, Al-Sager expressed cautious optimism regarding the outlook for project activity in the second half of the year and beyond. He pointed to the government's announcement of 141 projects under the 2025/2026 annual development plan, including large-scale ventures such as Mubarak Al-Kabeer Seaport, the expansion of the T2 passenger terminal at Kuwait International Airport, and the New Al-Sabah Hospital, as key drivers of anticipated momentum. Furthermore, he emphasized that the adoption of further economic legislative reforms would serve as a catalyst for accelerated economic growth, commending the government's commitment to enacting key legislation in the near term, including the anticipated approval of the mortgage law. He also underscored the importance of empowering the private sector to take a leading role in economic activity under Kuwait Vision 2035, noting that such measures are vital to enhancing the local business climate and supporting the growth of the national economy going forward. Prestigious awards During the first half of 2025, NBK garnered several prestigious accolades that reaffirm its leadership both locally and regionally. These included being named Best Bank in Kuwait - 2025, as well as receiving awards for Best Retail Bank and Best Bank for SMEs in Kuwait by MEED International Magazine. Euromoney magazine also honored the Bank with multiple accolades in 2025, naming NBK Kuwait's Best Bank for ESG, Kuwait's Best Bank for Large Corporates, and Kuwait's Best Bank for Diversity and Inclusion. Moreover, NBK has also garnered multiple accolades across the MENA region, including Best Loan Offering - 2025, Best Contactless Payment Experience, and Payment Solution for SMEs, awarded by MEED Magazine. Key financial indicators for H1 2025 •Net operating income stood at KD 631.4 million ($2.1 billion), up 3.1 percent year-on-year. •Total assets grew by 15.9 percent year-on-year, at KD 43.6 billion ($143.0 billion). •Total loans and advances increased by 12.1 percent year-on-year to KD 25.5 billion ($83.5 billion) •Customer deposits grew by 9.5 percent year-on-year to KD 23.9 billion ($78.2 billion). •Shareholders' equity amounted to KD 4.2 billion, ($13.9 billion) registering an annual growth of 10.3 percent. •Strong asset quality metrics, with NPL/gross loans ratio at 1.33 percent and an NPL coverage ratio of 252 percent. •Robust Capital Adequacy Ratio of 16.4 percent, comfortably exceeding regulatory requirements. Hamad Al-Bahar The Bank's strong financial performance underscores its ability to adapt effectively to shifting economic conditions
Arab Times
2 days ago
- Arab Times
Private sector in Kuwait shows upturn
KUWAIT CITY, July 21: Official statistics from the Public Authority for Civil Information (PACI) revealed that the number of private companies reached 175,673 in the first half of 2025 -- 57,408 of which operate as sole proprietorships and 82,948 operate as headquarters. The newspaper obtained a copy of the statistics, stating that the number of company branches reached 35,360 while the number of service providers in the private sector totaled 371. The statistics also confirmed that 25,840 companies are under investigation, 6,613 have expired licenses; one company was closed and three are unlicensed. The total number of companies -- including those operating, under study, closed, and unlicensed -- reached 208,220. A source from the Ministry of Finance (MoF) confirmed that the increase in the number of private companies in recent years is the fruit of governmental efforts to support the private sector. The source stressed that the ministry is intensifying efforts, in coordination with other ministries, to diversify sources of income by allowing the private sector to contribute to the realization of development objectives. The source indicated that the ministry provides numerous services to the private sector; such as supporting the salaries of national workers, removing companies that demonstrate good faith from the blacklist, and continuing to amend laws to better serve the private companies, encourage investment and attract foreign capital. The source added that one of the most important policies of the ministry at present is opening doors for the private sector to be a partner in economic development, in line with Kuwait Vision 2035 and as per the directive of His Highness the Amir Sheikh Mishal Al-Ahmad Al-Jaber Al-Sabah Al-Sabah to push the private sector forward.
