Manama: The National Bank of Kuwait (NBK) Group, the largest financial institution in Kuwait, a holder of the Kingdom of Bahrain's Golden License, has broken ground on its first international headquarters in the Kingdom, marking a significant milestone in the Group's regional expansion strategy, underscoring its longstanding commitment to Bahrain.
According to Bahrain News Agency, the announcement took place on the sidelines of the Gateway Gulf investment forum. The groundbreaking ceremony was attended by Noor bint Ali Alkhulaif, Minister of Sustainable Development, Chief Executive of the Bahrain Economic Development Board (Bahrain EDB); Ali Al Mudaifa, Chief of Business Development at the Bahrain EDB; Ali Fardan, Chief Executive Officer of NBK Bahrain; and Mahmood Al Aali, Deputy Chief Executive Officer of NBK Bahrain, alongside senior members from both entities.
Representing one of the largest contributors to Bahrain's Foreign Direct Investment (FDI) within the financial sector, the total investment value of the new NBK Bahrain headquarters stands at USD 66 million.
Noor bint Ali Alkhulaif, Minister of Sustainable Development, Chief Executive of the Bahrain EDB, expressed satisfaction over NBK's expanded presence in Bahrain. She stated that NBK's decision to establish its first international headquarters in Bahrain is a strong vote of confidence in the Kingdom's financial ecosystem, workforce, and sustainable development vision. She emphasized that this project reflects the strength of Bahrain's partnerships with leading regional institutions and highlights Bahrain's role as a hub for financial innovation and growth.
Ali Fardan, Chief Executive Officer of NBK Bahrain, remarked that this milestone signifies an important chapter in NBK's journey in Bahrain, where they have operated for nearly four decades. The establishment of the first headquarters outside Kuwait reflects the depth of NBK's partnership with Bahrain, demonstrating confidence in Bahrain as a platform for regional growth. He noted that this investment celebrates NBK's long-standing presence and is a commitment to future expansion, positioning Bahrain as a central hub for NBK's operations and new business opportunities in the region.
The new headquarters will adhere to Leadership in Energy and Environmental Design (LEED) standards, showcasing NBK's commitment to sustainability and green building practices. Once completed, the building will consolidate all NBK Bahrain's operations under one roof, while providing room for future expansion and the introduction of new business lines.
Established in 1987 as an offshore bank, NBK Bahrain has evolved into a key contributor to Bahrain's financial services sector, obtaining its retail banking license in 2003. With a presence across Asia, Europe, and the Middle East, NBK continues to play a significant role in driving regional financial connectivity and supporting sustainable economic growth.