Currently, Kuwait has 11 local banks including 5 Islamic banks, all of which are supervised by the Kuwait Central Bank to preserve Kuwaiti Dinar's stability, and it also acts as the Kuwait Government's financial advisor and banker. In addition, MNC's like HSBC, Citi-group etc. also work within Kuwait's banking division.


Industrial Bank offers funding for agricultural based projects and manufacturing projects. Two specialist banks operated by the Kuwait government provide medium to long-term funding focusing on savings bank and credit facilities to their clients or consumers ensuring smooth money supply in the economy.

Under the central bank of Kuwait, there are three main broad categories

    Commercial Banks
    Islamic Banks
    Specialized Banks

Further commercial banks are categorized into local branches and foreign branches. Examples for local branches are National bank of Kuwait, Gulf Bank, Bank of Kuwait and the Middle East etc. and for foreign branches are Bank of BNP Paribas, Citibank, Qatar National Bank, Bank of HSBC, Doha Bank, Bank of Bahrain etc.

As per Moody’s, Kuwait has stable banking system as the Moody’s view is that the projects are government-funded, and they shall continue to boost the economic growth and will in future boost the business for Kuwait’s bank.
 
Top 10 Banks in Kuwait

Here is a list of the top 10 Banks which are as follows:
1. National Bank of Kuwait
National Bank of Kuwait was founded in 1952 and it was the 1st shareholding company and a 1st local bank in Kuwait. It provides several services like consumer and private banking, Islamic banking, Asset management, International center, and investment banking. Its headquarter is situated at Kuwait City. It has handled around KD27,427.94 million of the total assets and generated net interest income around KD690.45 million in the year 2018. In the same year, the net income was around KD393.95 million.

2. Kuwait Finance House
Kuwait Finance House was founded in 2002. Kuwait Finance House (KFH) is a wholly owned that is 100% owned subsidiary of the Kuwait Finance House Kuwait. The bank provides service treasury, retail banking and finance services, investment portfolio, corporate banking, and capital markets products. It has handled around RM9.142 billion of the total assets. Kuwait Finance House had generated net interest income around RM509.44 million in the year 2017. In the same year, the net income of the Kuwait Finance House was around RM5.19 million. It employs around 9,000 employees in around 500 branches.

3. Burgan Bank
Burgan Bank was founded in 1977. Burgan bank has a network of 24 branches and has more than 100 ATM’s. The bank operates in segments such as Private Banking, Investment Banking, Corporate Banking, Treasury, Retail Banking, and Others. It has handled around KD5.97 billion of the total assets. Burgan bank had generated net interest income around KD118.94 million in the year 2017. In the same year, the net income of the Burgan bank was around KD55.60 million.



4. Gulf Bank
Gulf Bank was founded in 1960 and its headquarter is situated in Safat. Gulf Bank is one of the leading banks of Kuwait. The bank provides services to corporate, individual, and institutional clients. It operates through Treasury, Commercial Banking, and other Investments segments. It has handled around KD6.016 billion of the total assets. Gulf Bank had generated net interest income around KD152.63 million in the year 2018. In the same year, the net income of Gulf Bank was around KD56.74 million. It employs around 1,500 employees with around 56 branches.



5. Commercial Bank of Kuwait
Commercial Bank of Kuwait was founded in 1960 and its headquarter is situated in Safat and this bank is the 2nd oldest in Kuwait. Services included loans, and credit cards commercial banking services, including deposits. It has handled around KD4.39 billion of the total assets and generated net interest income around KD93.59 million in the year 2017. In the same year, the net income was around KD55.50 million.



6. AL Ahli Bank (ABK)
AL Ahli Bank (ABK) was established in 1967 and its headquarter is situated in Kuwait City. AL Ahli Bank (ABK) provides services like retail, corporate, and international banking services. It has handled around QAR39.88 billion of the total assets. AL Ahli Bank (ABK) had generated net interest income around QAR834.44 million in the year 2017. In the same year, the net income of AL Ahli Bank (ABK) was around QAR639.71 million. It operates with 56 branches.



7. Boubyan Bank
Boubyan Bank was established in 1973 and is an Islamic bank. Bank operates into 4 segments and the key activities of the bank include trading in real estate and establishing investment funds, accepting deposits and other kinds of Islamic Transactions. Boubyan Bank had generated Net interest income around KD120.30 million in the year 2018. In the same year, the net income of Boubyan Bank was around KD56.210 million. It employs around 250+ employees.



8. Kuwait International Bank
Kuwait International Bank was established in 1981. The Bank majorly caters Kuwait with services such as financing transactions, banking services, including deposit-taking, credit cards and direct investment. It operates through several segments: Treasury, Commercial and International, Fund Management and Institutional Banking, Retail, Investment Management, and Others. It has handled around KD2.17 billion of the total assets for the year 2018. It manages around 26 branches in Kuwait.



9. Industrial Bank of Kuwait
Industrial Bank of Kuwait was established in 1973 and its headquarter is situated in Al-Sharq. The primary objective was to cater and blossom the local industries and provides services which include Islamic Loans/Credit and conventional facilities to the conventional and Islamic Asset Management services, Industrial sectors. It has handled around KW671.27 million of the total assets and generated net interest income around KW17.37 million in the year 2017. In the same year, the net income was around KW12.53 million. It employs around 221+ employees.



10. Ahli United Bank
Ahli United Bank was established in 2000 and its headquarter is situated in Safat, Kuwait City. Ahli United Bank of Kuwait is handling around 110 branches across the United Kingdom and the Middle East. This bank caters to retail, Islamic, commercial, private banking products and services, and investment. It also offers life insurance services and global fund management.

The Bank operates through 4 major segments:

    Corporate Banking
    Retail Banking
    Treasury and Investments
    Private Banking

It has handled around KD3.76 billion of the total assets and generated net interest income around KD25.34 million in the year 2018. In the same year, the net income was around KD16.82 million.

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