KIB Group Posts KD 26.6 Million Nine-Month Profit and Prices Inaugural $500 Million Sukuk

KIB Group reported net profit attributable to shareholders of KD 26.6 million for the nine months ended September 30, 2026, up 30 percent from KD 20.4 million a year earlier, Chairman Sheikh Mohammed Jarrah Al-Sabah said. The Kuwait Times reported the results on October 24, 2026. Earnings per share reached 13.51 fils, and total assets grew 8 percent to KD 4.74 billion. The details were reported by Kuwaittimes.

KIB's Nine-Month Profit and Sukuk Pricing

KIB is a Kuwait-based Islamic bank whose investment arm, KIB Invest, arranges Sharia-compliant debt sales. Third-quarter net profit attributable to shareholders reached about KD 9 million, a 62 percent increase, Al-Sabah said. Net fee and commission income rose 33 percent to KD 10.3 million from KD 7.7 million, and net investment income grew 4 percent to KD 4.5 million from KD 4.3 million. Total operating income rose 7 percent to KD 69 million.

Vice Chairman and CEO Raed Jawad Bukhamseen said: "KIB's results for the first nine months of the year reflect our continued efforts to develop a more diversified and resilient business model, while maintaining a strong focus on enhancing operational efficiency and improving service quality."

The financing portfolio rose 8 percent, or KD 269 million, to KD 3.48 billion, and the investment portfolio, which includes high-quality Sukuk, grew 12 percent, or KD 62 million, to about KD 582.7 million. Customers' deposits reached KD 3.08 billion, up 2 percent, and total shareholders equity rose 1 percent to KD 374 million. The total capital adequacy ratio stood at 20.32 percent and the liquidity coverage ratio at 238.1 percent.

Bukhamseen said KIB priced its inaugural $500 million five-year senior unsecured Sukuk in September 2026 under a $1.5 billion Sukuk program. The orderbook reached about $1.2 billion, 2.4 times the issuance size, with a profit rate of 5.502 percent per annum and a final spread of 95 basis points over the yield on US Treasury securities. KIB Invest also acted as Joint Lead Manager on the $2.75 billion third international Sukuk for the Saudi Real Estate Refinance Company, guaranteed by the Government of Saudi Arabia.

KIB Invest's Earlier Sukuk Mandates

KIB Invest acted as Joint Lead Manager in the Islamic Development Bank's $1 billion sukuk issuance, priced at 4.227 percent on May 7, 2026, Zawya reported. The five-year bond was oversubscribed more than 2.6 times, with final terms at five-year US SOFR Mid-Swaps plus 52 basis points. In May 2026, KIB Group, through KIB Invest, also acted as Joint Lead Manager in First Abu Dhabi Bank's $700 million five-year senior unsecured sukuk issuance, according to Zawya.

KIB's Awards and Next Priorities

KIB received two Islamic Finance News awards for its $300 million Tier 2 Sukuk issuance, "IFN Kuwait Deal of the Year 2025" and "IFN Regulatory Deal of the Year 2025," presented at a Dubai ceremony. Al-Sabah and Bukhamseen said the bank's priorities for the next phase include developing core businesses, diversifying income sources, improving operational efficiency, investing in technology and enhancing the customer experience.