Buhayyan Reports 80.7M KD Net Profit
Algate Bank achieved a net profit of 80.7 million Kuwaiti Dinars during the first nine months of 2026, marking a 4% increase compared to the same period last year, with a earnings per share margin of 16 fils. The bank’s assets also grew to 11 billion Kuwaiti Dinars, reflecting an 8% annual increase, while the loan portfolio reached 8.4 billion Kuwaiti Dinars, an increase of 10%. The bank’s performance was characterized by its financial and operational resilience, with a focus on service development, strengthening digital innovation, and diversifying funding sources through the issuance of Musharakah sukuk worth 90 million Kuwaiti Dinars. This marks the first of its kind in the local currency, aiming to enhance capital structure and support sustainable growth. The bank continues to invest in its digital and human capabilities, expand strategic partnerships, and deliver advanced solutions to clients, all with the goal of strengthening its position as a leading Islamic banking institution in Kuwait and the region.
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