On Tuesday, 17 June 2025, The Industrial Bank Of Kuwait held its 52nd Ordinary General Assembly Meeting at the bank’s headquarters under the chairmanship of Ms. Hadeel Faisal Boukhodour, Chairperson of the Board. The meeting was conducted electronically in accordance with the Kuwait Clearing Company’s policies and procedures, with an attendance quorum of 95.416%.
During the meeting, Ms. Boukhodour presented the Board of Directors’ report on the bank’s performance during 2024, which was approved. The bank’s external auditor also presented the consolidated financial statements for the year ended 31 December 2024, which were ratified. The General Assembly approved the distribution of a 30% cash dividend to shareholders for the year 2024.
Ms. Boukhodour highlighted the bank’s significant achievements throughout its 51-year journey in supporting and promoting industrial investment, particularly through the provision of industrial credit facilities. Since launching its lending operations in 1974 and up until the end of 2024, the bank has provided a cumulative KWD 1.54 billion in industrial loans to 1,220 projects.
Despite the global economic challenges of 2024—including persistent inflation, rising commodity prices, and an intensifying energy crisis—The Industrial Bank Of Kuwait maintained solid performance and stable credit ratings. The industrial loan portfolio reached KWD 148.834 million by year-end, while the commercial facilities portfolio stood at KWD 157.618 million.
Ms. Boukhodour emphasized the bank’s continued role in supporting economic development through the management of three specialized government portfolios, offering credit and financial services to Kuwaitis in areas such as small enterprises, agriculture, livestock, and Sharia-compliant industrial financing. In 2024, the small enterprises portfolio financed 56 projects totaling approximately KWD 4.5 million. The agricultural portfolio supported 35 projects with a total of KWD 8 million, while the Islamic industrial financing portfolio funded one project valued at around KWD 133,000.
By year-end 2024, the bank recorded a net profit of KWD 28.2 million—up 42.4% from KWD 19.8 million in 2023. Operating income grew by 30.8%, reaching KWD 44.2 million compared to KWD 33.8 million in the previous year. Total assets amounted to approximately KWD 815.2 million.
The bank also places great emphasis on national workforce development, actively recruiting Kuwaiti graduates and equipping them with the training and technical skills needed to raise performance standards. By the end of 2024, Kuwaiti nationals comprised 82.4% of the bank’s total workforce, reflecting its strong commitment to human capital development.
Ms. Boukhodour concluded by affirming the bank’s continued implementation of its 2022–2026 five-year strategic plan, aimed at strengthening the industrial sector as a key economic pillar in Kuwait. This includes enhancing operational efficiency, pursuing digital transformation projects to improve banking services, refining credit risk evaluation frameworks, and advancing the bank’s ESG strategy to support sustainable industrial growth.
She expressed deep gratitude to the shareholders and clients for their continued trust and support, and extended her sincere appreciation to the executive management and the bank’s employees for their dedication and contributions in reinforcing Kuwait Industrial Bank’s leadership in the country’s industrial development.