KIB publishes its fourth annual Sustainability Report and highlights its ESG achievements

Kuwait, 10 November 2025: Building on its sustainability program and dedicated Environmental, Social, and Governance (ESG) strategy, Kuwait International Bank (KIB) announced publishing its fourth annual Sustainability Report for 2024, showcasing its contributions to and achievements in supporting Kuwait’s transition to a more sustainable economy. The report, curated in compliance with the Global Reporting Initiative (GRI) Sustainability Reporting Standards as well as the guidelines set forth by the Central Bank of Kuwait (CBK) and Boursa Kuwait for ESG reporting on transparency, expands on KIB’s sustainability efforts in line with Kuwait’s National Vision, United Nations’ Sustainability Development Goals (UN SDGs), and KIB’s role as a participant in the UN Global Compact since 2022.

“The release of this annual report reflects our unwavering commitment to integrating sustainability into the core of our business, not as a slogan, but as imbedded practice in our business model,” commented Mr. Raed Jawad Bukhamseen, Vice Chairman and Chief Executive Officer of KIB. He added: “This manifested on numerous fronts, such as KIB’s continued support for female entrepreneurs and small and medium-sized enterprises. Other areas where KIB’s efforts to sustainable growth were evident, included expanding our human capital programs and advancing women’s empowerment as a key pillar of our social development strategy through targeted initiatives that foster an inclusive and thriving community. Moving forward, we will continue to invest in innovative digital solutions and adopt global governance standards, in line with the needs and aspirations of the changing market and supporting Kuwait Vision 2035.”

On his part, Nawaf Najia, Executive Manager of ESG and Sustainability - Strategy Department at KIB, said: “From the outset, Sustainability Reporting has played a key role in documenting KIB’s ESG journey, providing a factual presentation of its main highlights as the Bank continues to advance its ESG roadmap, strategy, and supporting policies. Today, KIB’s ESG structure is steered by a dedicated ESG Unit and governed by a stringent ESG Policy.”

Recognitions and Awards

KIB's efforts in 2024 were recognized with a number of regional and international awards, most notably:

• “Excellence in FinTech Innovation & Digital Leadership in Kuwait for the Year 2024” - World Union of Arab Bankers (WUAB)
• “Most Innovative Digital Banking Transformation 2024” - World Finance
• “Best Retail Banking Product 2024” - World Finance
• “Best Bank in Financial Literacy Program - MENA 2024” - Capital Finance International (CFI.co)
• “Best Sharia-Compliant Bank - MENA 2024” - Capital Finance International (CFI.co)
• “Best Real Estate Solutions Provider MENA 2024” - Capital Finance International (CFI.co)

The fourth annual Sustainability Report further records KIB's achievements in 2024, reflecting the Bank's leading local and regional position and confirming international institutions' recognition of its initiatives in the areas of sustainability, innovation, and governance.

Sustainable Portfolio Growth and Inclusive Finance

At the heart of KIB’s sustainability efforts is its commitment to promoting inclusive finance by advancing ESG-integrated financing solutions, which drove the Bank’s total financing portfolio to grow 14.5%, amounting to KD 2.85 billion in 2024. Within sustainable financing, the Wholesale Banking Department rose 27.27% to KD 51.48 million. Meanwhile, the International Banking Department increased 22.5% to KD 62.46 million, bringing their combined share of the total financing portfolio to 4% in 2024, compared to 3.67% in 2023.

Ethical Governance Framework

To guarantee its compliance with the global ESG standards, especially in terms of ethical governance and leadership, KIB upholds the independence of its oversight committees, which, together, have guaranteed KIB’s success in meeting all standards, with no reported fines, cases of non-compliance, or data breaches and privacy complaints in 2024.

This was further supported by advancing preexisting initiatives and programs, such as fortifying its cybersecurity and information security capabilities, earning it a certificate renewal for the ISO 27001:2022 certification and maintaining its ISO 22301:2019 on Business Continuity Systems. Furthermore, KIB successfully met the requirements of other critical security frameworks, including PCI DSS, SWIFT CSP, and CBK CSF. The Bank continues to comply fully with CBK’s Corporate Governance Guidelines, which fosters international alignment with standards set by Basel Committee on Banking Supervision (BCBS).

Fostering Inclusive Communities and A Skilled Workforce

KIB is continuously investing in human capital and national talent, with a 24.19% increase in spending on training and e-learning in 2024, which amounted to an average of 66 hours of training per employee. The Bank also grew its Kuwaitization rate to 75.5% of its total workforce, continued to support women in leadership - whereby women accounted for 23.22% of the total managerial roles in the Bank, and onboarded 79 fresh graduates.

Community and local business support also strengthened, with Corporate Social Responsibility (CSR) spending rising by 69.74%, the number of local suppliers increasing by 20.16%, and sponsorship expenditure growing by 28.81%. In parallel, KIB’s Mubader Center supported domestic entrepreneurship and SMEs, while volunteering initiatives, including the “Iftar Saem” program, helped distribute meals to those in need.

Environmental Responsibility

Throughout 2024, KIB continued advancing its environmental stewardship through comprehensive carbon footprint reduction efforts. The Bank continued to refine its GHG emissions monitoring methods to identify reduction opportunities which further improve the accuracy and comparability of year-over-year results. In addition, KIB reported total GHG emissions of 6,165.7 tCO2e at an intensity of 7.93 tCO2e/employee.

Towards the Future

The report affirmed the Bank’s ongoing commitment to expanding sustainable financing, supporting SMEs, and promoting green investments. In addition, KIB is set to continue reducing its environmental footprint, empowering national talent, and expanding financial inclusion. These goals are in line with the Bank’s 2024-2028 corporate strategy, which aims to strengthen its leading position within the Islamic banking sector and deliver long-term sustainable value through innovation, efficiency, and customer centricity.

Key 2024 Achievements

• Growth of the financing portfolio by 14.5% to KWD 2.85 billion.
• Financing SMEs amounting to KD 50.98 million.
• Reporting carbon emissions intensity at 7.93 tons CO₂e/employee.
• Increasing the Kuwaitization rate to 75.5%, with an average of 66 hours of training per employee.
• Increasing spending on local suppliers to 20.16%.
• Launching digital initiatives to enhance customer experience, such as instant card issuance and the Aqari digital platform service.