Al-Othman:

  • For NBK, maintaining leadership is not a choice but a mindset, driving us to continuously push boundaries in banking excellence
  • The Bank is spearheading a transformation in redefining quality banking standards in Kuwait
  • NBK's unmatched position in personal and digital banking inspires us to constantly outdo ourselves, setting new records and raising the bar
  • We consistently think beyond conventional solutions, striving to fulfill our customers' needs and surpass their aspirations
  • Our journey of innovation and development remains relentless, ensuring NBK’s enduring leadership on both local and regional fronts
  • With strategic investments in cutting-edge technology and a deep commitment to understanding customer needs, we have elevated our standards of innovation and excellence
  • NBK continues to prioritize technology, talent development, and customer-focused strategies, strengthening its competitive edge
  • Our 2024 accomplishments underscore our unwavering dedication to exceeding expectations and setting benchmarks for the industry

Key Figures and Performance Indicators for NBK in 2024:

  • NBK achieved a remarkable 93% customer satisfaction rate, reflecting the Bank's consistent commitment to delivering exceptional services and products
  • The customer turnout rate for Weyay Bank exceeded projections by an impressive fourfold before its official launch, highlighting its strong appeal among the target audience

In 2024, National Bank of Kuwait (NBK) maintained its pioneering position by delivering an unparalleled banking experience tailored to its customers' evolving needs. Through continuous innovation of new services and enhancements to existing products, the Bank consistently exceeded expectations, reaffirming its role as a leader in redefining banking excellence.

Mr. Mohammed Al-Othman, CEO, Consumer and Digital Banking Group at NBK, stated:
"The latest figures and indicators reaffirm NBK’s leadership in surpassing local peers and setting benchmarks in delivering world-class digital banking products and services. As we advance our digital transformation strategy, we remain committed to adapting to the evolving needs of our customers, ensuring a comprehensive and seamless banking experience that aligns with their aspirations and diverse lifestyles."

"Remaining at the forefront and consistently launching pioneering products and services, the first of their kind in Kuwait, is not just a goal but a steadfast approach for us. This vision drives NBK’s personal and digital banking teams to work tirelessly in maintaining the bank’s leadership position. Our significant lead over competitors is not a reason for complacency but a challenge to continually surpass our own achievements, setting higher benchmarks and widening the gap with the competition. By thinking outside the box, we aim to address our customers’ needs and deliver beyond their expectations, ensuring a banking experience that remains unmatched," Al-Othman emphasized.

He further highlighted that NBK consistently maintains a strong customer satisfaction rate of 93% for its services and products. He emphasized the bank's leadership in digital innovation, underscoring its commitment to offering a carefully curated suite of digital services and products designed to meet the evolving needs of its customers, reaffirming NBK’s position at the forefront of financial institutions in Kuwait.

Al-Othman highlighted the notable increase in demand for NBK's Mobile Banking Service, and explained that the turnout for Weyay Bank, Kuwait's first digital bank, surpassed expectations by four times the target prior to its launch in 2021. This highlights the significant customer interest and demand for fully digital banking services, reinforcing Weyay Bank’s pivotal role in shaping the future of banking in Kuwait.

Al-Othman emphasized that NBK's continuous path of development and innovation is integral to strengthening its leadership both locally and regionally. This commitment is driven by the bank's dedication to delivering innovative financial solutions and exceptional experiences tailored to meet the diverse needs of its customers. He also highlighted the importance of seamlessly integrating digital services and products with the offerings available through traditional branches, ensuring that NBK provides its customers with an unparalleled banking experience across all channels.

He explained that the bank's achievements serve as a testament to its unwavering commitment to not only meeting but exceeding customer expectations. By integrating cutting-edge technology with a profound understanding of its customers' needs, NBK has reinforced its market leadership and set new benchmarks for innovation and excellence in consumer banking. Looking forward, the bank remains dedicated to delivering unparalleled value and continuing its journey of enhancing customer experiences.

He added that Consumer Banking Group continues to make substantial investments in technology, talent development, and customer-centric strategies to sustain its momentum and deliver lasting value for both customers and shareholders.

NBK Mobile Banking App Enhances Users’ Experience With Over 90 New Features

Since the fourth quarter of last year, NBK has significantly enhanced NBK Mobile Banking App by adding and improving more than 90 features. These enhancements aim to deliver a more efficient and seamless digital banking experience for customers.  

These updates include, among other improvements, the integration of the Civil ID renewal process through the Public Authority for Civil Information. The app has also streamlined the electronic Know Your Customer (eKYC) form, now excluding the need for users to input their parents’ or children’s names to complete the update. Additionally, customers can now easily view their relationship manager’s name and contact details, schedule appointments, and benefit from the enhanced 3D secure payment service—providing an extra layer of protection against fraud when using their bank cards for transactions.

The enhanced features on the NBK Mobile Banking App now allow users to access transfer receipts immediately after completing transfers—whether between private accounts or for local and international transfers—available 24/7. Additionally, the app has improved the user experience by enabling easier access to key transaction features directly from the main page. These include quick payment, bill splitting, loading accounts, quick send, and the ability to add a beneficiary’s International Bank Account Number (IBAN) and phone number for streamlined transactions.

NBK customers now have the ability to pay for their purchases in installments of up to 12 months through the NBK Mobile Banking App, along with the added flexibility of using NBK FlexiPay. Additionally, customers can open NBK Flexi Deposit accounts and choose from a range of interest payment options—whether in advance, monthly, quarterly, or annually—offering more convenience and control over their financial planning.

Pioneering the Launch of "WAMD" Services

NBK was among the pioneering banks in Kuwait to launch the "WAMD" service in collaboration with the automated banking company "Knet," under the supervision of the Central Bank of Kuwait. This service, available through the NBK Mobile Banking App, enables seamless, easy, and convenient money transfers using only the recipient's mobile number, eliminating the need for additional banking details.

NBK Unveils New Branch Concept Aligned with International Standards

As part of its commitment to providing customer-centric services, NBK expanded its presence by opening its 72nd branch in Kuwait, located in Sabah Al-Ahmad Residential City in 2024. This move aims to further strengthen NBK's position as the leader in Kuwait's banking sector with the largest network of branches.

In line with global banking trends, NBK has transformed the concept of its branches, incorporating modern design and cutting-edge technology. The new Sabah Al-Ahmad Residential City branch reflects these changes, offering interactive services and advanced banking solutions that align with international standards, ensuring a more efficient and seamless banking experience for customers.

Introducing Fully Digital Prepaid Cards

In its continued commitment to innovation, NBK has launched fully digital prepaid cards, setting a new benchmark in the Kuwaiti market. These include the NBK Visa Signature Prepaid Card, in collaboration with Qatar Airways and British Airways, marking the first of its kind in the MENA region. Furthermore, the new 247 Cashback Visa Platinum Prepaid Card offers customers up to 24% cashback on their daily purchases.

NBK has also launched the revamped UEFA Champions League Platinum MasterCard, the first of its kind in Kuwait to implement the Double Profit concept. This card offers exclusive benefits and rewards for its holders.

Available to the entire family, starting from the age of 7, it stands as the first prepaid cashback card of its kind in Kuwait, allowing both parents and their children to benefit from its unique features.

Exclusive Offers and Exceptional Discounts

In 2024, NBK continued to provide exclusive offers and exceptional discounts to its diverse customer base, partnering with leading companies across various sectors.

A key collaboration was with Safat Home, a subsidiary of Alghanim Industries. This partnership saw Safat Home joining NBK's "NBK Rewards Program," enabling NBK customers to earn 5% in NBK Rewards Points on all purchases made at Safat Home when using any NBK credit or prepaid cards.

NBK has also entered into an exclusive partnership with X-cite Electronics, offering NBK Visa Infinite Credit Cardholders a variety of benefits. This collaboration enables customers to earn 10% in NBK KWT Points when using their card for purchases at X-cite Electronics' physical stores, online platform, or mobile App. In addition, cardholders enjoy an instant 2% discount on select products.

Raising Al Jawhara Prizes to KD 5 million Annually

Since the beginning of 2024, NBK has enhanced the offerings of Al-Jawhara Account by increasing its total prize pool to KD 5 million annually. This includes a grand prize of KD 1 million, awarded three times a year. Additionally, there are weekly prizes of KD 20,000 and monthly prizes of KD 125,000.

In a bid to engage younger customers, NBK has introduced special Al-Jawhara draws for customers under 21. The monthly draw for this category includes seven winners, with KD 1,000 awarded to three winners and KD 500 to four other lucky individuals. Furthermore, one winner is awarded KD 10,000 in each grand prize draw. Customers under 21 are eligible to participate in both the regular Al-Jawhara draws and the new Al-Jawhara Junior draws.

This year, NBK launched Al-Jawhara Savings Account, offering customers an added benefit of up to 1.5% interest for the first year. Customers who maintain a balance of KD 5,000 or more are also eligible for monthly draws as well as the grand prize draw.

Global, Regional and Local Recognition

In recognition of NBK's exceptional achievements in innovation, digital transformation, and its commitment to providing top-tier banking solutions that align with evolving customer needs and the rapid pace of technological advances, the bank has been honored with several prestigious awards. Notably, it received the 2024 Global Finance award for the Best in Innovation Global Winner, in both conventional and Islamic banking categories. Additionally, NBK was recognized as the Best in Innovation in the Middle East and Kuwait, alongside winning awards for Best Bank Online Product Offering at the regional and local levels.

These accolades highlight the bank's leadership in revolutionizing banking experiences and its continuous efforts to stay ahead in the fast-changing financial sector.

NBK was also honored with several key awards from Global Finance, reinforcing its dominance in the local market. These accolades included the Best Bill Payment and Presentment, the Best Mobile Banking App, and the Best in Lending.

NBK’s outstanding achievements in 2024 were further recognized with a series of prestigious awards from MEED magazine at the MENA Banking Excellence Awards 2024. The bank was honored with the Best Retail Bank in Kuwait award, in addition to naming Mohammed Al-Othman the best Retail Banker in the MENA region for the third consecutive year.

Furthermore, NBK was celebrated for its leadership in digital payments, receiving the " Market Leader in Digital Payment Acceptance " award from MasterCard during the MasterCard EDGE Forum 2024 in Dubai.  

Weyay Stays Ahead in Driving Digital Banking Innovation in Kuwait

In 2024, Weyay Bank reinforced its commitment to digital banking excellence by launching a series of innovative products and services. Among the highlights was the introduction of the first digital prepaid card tailored specifically for student customers. This card offers exclusive SELECT membership benefits, cashback offers, and immediate discounts with top brands and popular delivery apps in Kuwait. Additionally, Weyay introduced an exclusive cashback campaign for Student Allowance customers.

The bank also enhanced the Jeel card, a groundbreaking product designed for children aged 8 to 14. This card incorporates innovative features such as "Quick Pay Request" and "Request Payment via Link" services, allowing young customers and their families to experience a seamless and secure way of managing money while fostering digital financial independence.  

In 2024, Weyay Bank expanded its range of innovative products by launching a new multi-currency prepaid card, designed to provide customers with a seamless experience for both travel purchases and online transactions in various currencies.  

In an effort to promote a culture of savings among all societal segments, particularly the youth, Weyay introduced the saving pot “Pro". This product offers an attractive annual interest rate of up to 1%, helping customers boost their savings with a simple, user-friendly platform.

Recognizing these efforts, Weyay Bank earned several prestigious accolades in 2024. The bank was named the Best Digital Bank in Kuwait by MEED Magazine and received the Best Digital Bank in Information Security and Fraud Management in Kuwait award by Global Finance. Furthermore, Weyay’s commitment to innovation was acknowledged with the “Most Innovative App for Young People” award at the Global Finance's Innovators Awards 2024.