Marcopolis.net has ranked the 10 largest banks since 2010. Banks have overcome the financial crisis that posed a threat to the global banking system. The financial health of the biggest banks is still mixed. To sort out the largest we used the assets, to sort out the best we used the awards received.
Which bank is Kuwait's biggest Bank? Which one is the best bank in Kuwait? The following list ranks Kuwait's top banks by assets. Traditionally, the largest bank in Kuwait is NBK, followed by Gulf Bank and Burgan Bank. In terms of the quality of service and innovation Gulf Bank is the best bank in Kuwait. This ranking is corroborated by the numerous Best Bank in Kuwait awards that Gulf Bank received in 2013 and 2014. View our latest ranking of banks in Kuwait.
Highest Rated Banks in Kuwait for 2014
The 2014 order of the highest ranking banks remains unchanged. Out of 10 largest local banks (not including 9 international banks), the NBK topped the list followed by Gulf Bank and Burgan Bank. The most highly-acclaimed banks excelled on their speed of service and card deliveries. Most banks reduced their NPL ratios and increased profitability.
The main feature of the banking system in Kuwait is the dependence on the large scale public sector projects that are difficult to predict due to Kuwait's volatile political situation. The limited number of the lending opportunities in Kuwait emanating from low degree of diversification of the economy can put a downward pressure on profitability and increase the competition between banks. Thus on the home-front the biggest project banks are NBK and Gulf Bank.
Many banks are refocusing their strategies on retail segment instead of concentration on real estate and investment. Outlook for the sector depends on the implementation of the Kuwait Development Plan. A salient feature of the Kuwaiti banks is their mixed ownership structure, often the banks are owned by the big Kuwaiti families. Kuwait banking sector has relatively low number of banks due to strict regulations and difficult procedures (from 2004 maximum limit for any shareholder is at 5% of a bank's capital). For more information visit structure of Kuwait's Banking system.
Note: click here for other top 10 strongest banks in Kuwait Islamic banks in Kuwait, investment banks in Kuwait, foreign banks in Kuwait.
The following is the ranking of the best banks in Kuwait.
Top Commercial Banks in Kuwait (Best Banks in Kuwait)
National Bank of Kuwait (NBK)
Mohammed Abdulrahman Al-Bahar | Chairman
NBK was the first national bank in Kuwait and the entire Arabian Gulf region. All the board members and the founders of NBK were renowned merchants of Kuwaiti origin. NBK was established with a capital of 13,100 shares, each valued 1,000 Rupee equivalent to KD 75 today. NBK is one of the largest banks in the Middle East with the regional exposure.
Assets: USD 47,6 billion in 2011 ( up 5% compared to September 2010 )
Gulf Bank - No.1 in Quality -- Gulf Bank is the Best Bank in Kuwait for 2013
Omar Kutayba Alghanim | Chairman
Gulf Bank is Kuwait's second largest and fastest growing commercial bank and industry leading financial services provider. Gulf bank won several awards for being the best bank in Kuwait for 2013. The bank's strategy is to be the fastest and the best bank in Kuwait. Gulf bank focuses exclusively on the local domestic market raising the quality standards for all other players.
Assets: USD 17,3 billion in 2011
Interview: Gulf Bank of Kuwait: 2nd Largest Bank in Kuwait
Article: Gulf Bank's "Rags-to-Riches-to-Rags-and-Back-to-Riches-Again" Story-line
Profile of Gulf Bank: Best and Fastest Service in Kuwait
Project Finance and Kuwait's Development Plan
Retail Banking in Kuwait
Gulf Bank's Strategy
Gulf Bank's Performance in 2012
Gulf Bank's Governance
Differentiation of Gulf Bank in Kuwait
Corporate Banking in Kuwait
Competition in Kuwait's Banking Sector
Kuwait: Banking Sector in 2012-2013
Kuwait Banking: Non-Performing Loans in Kuwait 2012
Demand for Loans and Loan Loss Provisions in Kuwait 2012
Lending Opportunities for Kuwait's Banking Sector
Majed Essa Al Ajeel | Chairman
Burgan Bank was established in 1977. KIPCO is currently Burgan's largest shareholder with 40% stake. Burgan bank is active in the region and completed its acquisition of 4 regional banks (Jordan Kuwait Bank, Algeria Gulf Bank, Bank of Baghdad and Tunis International Bank). The bank has a network of 25 domestic branches.
Assets of the Group: USD 15,4 billion in 2011
Commercial Bank of Kuwait (Al Tijari Bank)
Ali Yousef Al Awadhi | Chairman
Established on 19th June 1960, Commercial Bank is the second oldest Bank in Kuwait. From retail banking to mega project finance, CBK is mobilizing its substantial capital base and decades of expertise to assume a cutting edge role in Kuwait economy.
Assets: USD 13,3 billion in 2011
Al Ahli Bank of Kuwait
Ahmed Yousuf Behbehani | Chairman
Al Ahli Bank of Kuwait is the 4th largest bank in Kuwait by assets with roughly 7% market share of total assets. The bank was established in 1967 by the Behbehani group. The group currently owns 24% of the bank's total share capital.
Assets: USD 10,3 billion in 2011
Top Specialized Banks in Kuwait
Industrial Bank of Kuwait
IBK was established in 1973 to promote industrial development, primarily in Kuwait, but also throughout the Gulf region in general. However, non-Kuwait lending remains minimal. The Bank's main shareholders at the end of 2010 included the Government of Kuwait (31.39%) and three governmental entities, Wafra International Investment Company (13.57%), the Central Bank of Kuwait (12.56%), and the Public Institution for Social Security (5.16%).
Assets of the Group: USD 2.1 billion in 2010
Top Banking Institutions in Kuwait
Central Bank of Kuwait
H.E. Sheikh Salem AbdulAziz Al-Sabah | Governor
The Central Bank of Kuwait was established in 1969 with a mission to lay the foundations and maintain a flexible and stable monetary financial system in the State of Kuwait.
- Kuwait Banking Association