Commercial Bank of Kuwait K.P.S.C. (CBK) IS A PIONEER IN THE Kuwaiti financial market, with its "innovation-driven, service excellence" philosophy, showing excellence in retail, corporate, investment and digital finance. Founded on June 19, 1960, it is the second oldest bank in Kuwait and is headquartered on Mubarak Al-Kabeer Street, Kuwait City. Listed on the Kuwait Stock Exchange (ticker symbol: CBK), CBK serves more than one million customers and is one of the largest financial institutions in Kuwait thanks to its solid financial performance and innovative capabilities.
basic bank information
The Commercial Bank of Kuwait is a commercial bank, privately owned, established on June 19, 1960 and headquartered in Kuwait City, Kuwait. Founded by Kuwaiti businessmen and the government, the bank was privatized in 1994 and became a subsidiary of Kuwait Project Company (KIPCO) in 2007, one of the largest investment holding companies in the Middle East and North Africa with operations in 24 countries. Major shareholders include institutional investors (e.g., Al-Futtooh Holding Co., Gulf Investment Corporation) and public shareholders, and the holding structure operates as a separate company. Banks are strictly regulated by the Central Bank of Kuwait (CBK) and are required to comply with the Kuwait Banking Act and international financial standards to ensure operational transparency and the safety of customer funds. Its deposits are protected by the Kuwait Deposit Insurance Scheme, with a maximum of KWD 300,000 (approximately US$1 million) per depositor. The SWIFT code for the bank is BBKUKWKW and the Legal Entity Identifier (LEI) is 5493003NOCSC6LUWUF03. CBK has about 70 branches and 200 ATMs in Kuwait, with a total of about 2,000 employees in 2024.
deposit and loan products
depositsCBK
provides a variety of deposit products to meet the savings needs of individual and corporate customers:
Demand Deposits: including checking accounts and savings accounts, such as "My First Account" and "Al Najma Account", with a minimum opening amount of KWD 0 and a base annualized rate of return (APY) of approximately 0.1%-0.5%, subject to confirmation of the latest interest rate through branch or online banking. With flexible deposits and withdrawals, no monthly fees, and up to KWD 1,000,000 lucky draw prizes, the Al Najma account is suitable for day-to-day money management and incentivized savings (deposit services).
Fixed Deposits: Support Kuwaiti dinar, US dollar, euro and other currencies, deposit terms from 1 month to 5 years, the minimum deposit is KWD 1000. In 2025, the fixed deposit interest rate will vary according to the maturity, such as 1.5% for 1 month, 2.0% for 3 months, 2.5% for 6 months, 3.0% for 12 months, and 4.0% for 2-5 years (fixed deposits).
Featured Products:
High Yield Savings Accounts: such as "Al Najma Account", which offers up to 2.0% p.a. interest rate and a cash prize of KWD 1,000,000 through daily sweepstakes, subject to maintaining a balance of KWD 500 or more, No monthly fees (Al Najma account).
Large Certificates of Deposit (CD): Support flexible tenors, suitable for large amount of money customers, the interest rate needs to be queried through the branch or app, and the early withdrawal penalty is 90 to 180 days of interest.
Customers can check the preferential interest rate through the "CBK Mobile" app or online banking, and the deposit products can be opened and calculated instantly, and some accounts can provide free transaction fee discounts.
Loan CBK
provides a comprehensive range of loan products to meet diversified financing needs
Mortgages: Fixed- and variable-rate mortgages with a loan amount of up to 80% of the value of the property and a repayment period of up to 30 years. In 2025, the fixed interest rate will be as low as 3.5% (3 years, with a credit score of 700 or more), and the floating interest rate will be based on the benchmark rate of the Central Bank of Kuwait (about 4.0%), and green mortgage discounts will be provided (energy-efficient properties), and the application will require an annual income of more than KWD 5,000 (mortgage services).
Car Loan: Support new and used car financing, the loan amount is up to KWD 25,000, the term is up to 7 years, the annualized interest rate (APR) is about 4.0%-7.0%, and the credit score is 660 or more (car loan service).
Personal Line of Credit: The loan amount ranges from KWD 1,000 to KWD 25,000, with a term of 1 to 5 years, an annualized interest rate (APR) of about 5.99%-10%, and the application threshold is an annual income of KWD 3,000 or more and a good credit history (personal loan).
Flexible repayment options: Mortgages and personal loans offer no penalty for prepayment, monthly or bi-weekly payment plans, and a revolving line of credit for flexible debt management.
All loans are subject to bank approval, and customers are required to provide credit history, proof of income and asset information, subject to the terms of the loan agreement. The bank's trade finance services (e.g. letter of credit, bill discounting, syndicated loans) provide additional support to SMEs and large enterprises (commercial banks).
Digital Service
ExperienceCBK'smobile banking app "CBK Mobile" is the core of its digital services, which can be downloaded on iOS 14.0 and above and Android 9.0 and above devices, with an App Store rating of about 4.7, Google With a Play rating of around 4.5, users praise its quick startup (in less than 2 seconds) and intuitive interface
