The National Bank of Kuwait (NBK) Group, the largest financial institution in Kuwait, has broken ground on its first international headquarters in Bahrain, marking a significant milestone in the group’s regional expansion strategy, underscoring its longstanding commitment to the kingdom.

The announcement took place on the sidelines of the Gateway Gulf investment forum and the groundbreaking ceremony was attended by Noor bint Ali Alkhulaif, Minister of Sustainable Development, and 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, NBK Bahrain, 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 $66 million.

Addressing the gathering, Minister Alkhulaif said: “We are delighted to see NBK deepen its presence in Bahrain through this landmark investment. NBK’s decision to establish its first international headquarters in Bahrain is a strong vote of confidence in the kingdom’s dynamic financial ecosystem, our talented workforce, and our sustainable development vision.”

“This project reflects the strength of our partnership with leading regional institutions and underscores Bahrain’s role as a hub for financial innovation and growth,” she stated.

Fardan said this ground-breaking milestone marks an important chapter in NBK’s journey in Bahrain, where it has proudly operated for nearly four decades.

“The establishment of our first headquarters outside Kuwait reflects the depth of our partnership with Bahrain and our continued confidence in its role as a platform for regional growth. This investment represents both a celebration of our long-standing presence and a commitment to our future expansion, positioning Bahrain as a central hub for NBK’s evolving operations and new business opportunities across the region,” he noted.

The new headquarters will be developed in line with Leadership in Energy and Environmental Design (LEED) standards, reflecting NBK’s commitment to sustainability and green building practices, he added.