According to a report issued by Mnakh Research & Studies

• Reduced Scope 2 emissions by 1,875 tCO₂e and improved operational efficiency.
• Completed a comprehensive energy audit of its headquarters in preparation for green building certification.
• Zero regulatory complaints, public corruption cases, or documented customer data privacy breaches.
• Adopted a Sustainable Finance Framework aligned with the requirements of the Central Bank of Kuwait and the Capital Markets Authority.

Mnakh Research & Studies highlighted a number of notable achievements featured in Gulf Bank’s 2025 ESG Report, titled “Converting to a Sustainable Path.” The report covers the Bank’s operations in Kuwait, where Gulf Bank serves its customers through a network of more than 45 branches and 265 ATMs, with total assets reaching KWD 7.7 billion.

The report revealed the launch of the Bank’s Corporate Strategy 2030, significant progress in climate-related disclosures, a substantial reduction in carbon emissions from purchased electricity, and the adoption of a comprehensive sustainability governance structure.

Reduction in Electricity Consumption

In 2025, Gulf Bank achieved a significant reduction in Scope 2 emissions (purchased electricity), decreasing from 11,390.21 tCO₂e in 2024 to 9,514.87 tCO₂e in 2025—a reduction of 1,875 tCO₂e. This is equivalent to removing approximately 408 passenger vehicles from the roads for an entire year.

Emission intensity per employee also declined from 6.85 tCO₂e in 2024 to 6.63 tCO₂e in 2025, representing a 3.21% year-on-year improvement, reflecting enhanced operational efficiency.

Total emissions across Scopes 1, 2, and 3 reached 16,997.85 tCO₂e in 2025. However, the inventory was expanded methodologically to include additional categories within Scopes 1 and 3 that were not previously reported, making direct comparison with 2024 inappropriate. Gulf Bank also established 2025 as a new baseline year for long-term emissions tracking.

Operational sustainability initiatives included the deployment of photovoltaic solar energy systems at renovated branches, electric vehicle charging stations, occupancy sensors, and a Building Automation System (BAS) to manage HVAC and electrical systems. The Bank also completed a comprehensive energy audit of its headquarters as part of its preparations for green building certification.

Transformation in Corporate Governance

During 2025, Gulf Bank launched its Corporate Strategy 2030, which serves as the operational and commercial roadmap for the coming years, while continuing to implement its Sustainability Strategy 2030, built around four pillars: Responsible Governance, Fair Workplace, Community Engagement, and Responsible Banking.

The Bank completed a readiness assessment for alignment with the new IFRS S1 and IFRS S2 sustainability disclosure standards across the four key dimensions of governance, strategy, risk management, and metrics and targets. It also launched its Sustainability Management Committee Charter, Supplier/Vendor Code of Conduct, and a structured internal sustainability communication plan.

The Bank’s Board of Directors consists of 11 non-executive members, including four independent directors and one female board member.

Throughout 2025, Gulf Bank recorded:

• Zero regulatory complaints.
• Zero public corruption cases.
• Zero incidents of non-compliance related to marketing communications.
• Zero documented customer data privacy breaches.

Employee training coverage in privacy and cybersecurity reached 100%.

Strong Performance in Quality and Sustainability Ratings

Gulf Bank maintained its “A” category credit ratings from:

• ⁠Moody’s (A3)
• S&P Global Ratings (A+)
• Fitch Ratings (A)

All with Stable Outlooks.

The Bank also achieved a BBB sustainability rating from MSCI ESG Ratings.

During 2025, Gulf Bank received a number of regional and local awards, including:

• ⁠Best Sustainability Initiative 2025
• Best Digital Corporate Bank in Kuwait 2025
• Best Banking Brand in Kuwait
• Best Mobile Banking App and Customer Experience
• Multiple social media marketing awards across Kuwait and the Middle East

Growth in Human Capital

The Bank’s workforce grew to 1,699 employees in 2025, an increase of 18 employees compared to the previous year.

Women represented 40.26% of the workforce, while Kuwaitization remained strong at 70.45%.

The female-to-male pay and remuneration ratio stood at:

• 0.976 (97.6%) in entry-level positions.
• 0.799 in middle management.
• 0.800 in senior management.

The overall ratio reached 0.75 (75%).

As part of its talent development efforts, Gulf Bank welcomed 51 trainees and continued its multi-year Kuwaitization initiative aimed at building a sustainable pipeline of national talent through specialized academies, including GBTech and GBRisk, focusing on information technology and risk management.

The Bank is also pursuing ISO 45001 certification for Occupational Health and Safety Management Systems.

Supporting Local Suppliers and National Development

Gulf Bank allocated 97.53% of its procurement budget to local suppliers in 2025, reinforcing the national value chain.

In financing activities, the Bank provided direct financing totaling KWD 29.1 million for healthcare projects, including:

• Taiba Hospital expansion (KWD 8.5 million)
• Sama Medical Services Company (KWD 8.7 million)
• Alghanim Healthcare Company (KWD 11.9 million)

The Bank also financed road infrastructure projects exceeding KWD 162 million.

Indirect financing included:

• Kuwait College of Science and Technology projects (KWD 6 million)
• Solar energy systems in Al-Mutlaa and Sabah Al Ahmad residential cities (KWD 1.1 million)

Financial Literacy and Community Engagement

Gulf Bank renewed its partnership with INJAZ Kuwait for the nineteenth consecutive year and continued supporting the “Diraya” financial awareness campaign in collaboration with the Central Bank of Kuwait.

The campaign achieved:

• Approximately 35 million people reached.
• 26 million video views.
• 34 million impressions across social media platforms.

Approximately 170 employees participated in nine volunteer initiatives with organizations such as Bayt Abdullah Children’s Hospice and LOYAC, in addition to environmental campaigns including TrashTag desert clean-up initiatives.

As part of its circular economy efforts, the Bank recycled more than 2,300 square meters of advertising materials, transforming them into nearly 100,000 reusable bags distributed to the community, demonstrating a practical commitment to waste reduction and responsible consumption.

Sustainable Finance Framework and Accelerated Digital Transformation

Gulf Bank adopted a Sustainable Finance Framework aligned with the requirements of the Central Bank of Kuwait and the Capital Markets Authority. The framework establishes eligibility criteria and governance mechanisms for sustainable finance instruments, including green loans and green bonds.

During 2025, the Bank participated in sustainability-linked syndicated loan facilities, covering:

• Use-of-proceeds structures supporting renewable energy, energy efficiency, water efficiency, and green buildings.
• Sustainability-linked financing structures with preferential pricing tied to environmental and social performance targets.

On the digital transformation front, Gulf Bank continued offering fully digital account opening with instant IBAN issuance and paperless onboarding. The Bank also expanded its interactive teller machines (ITMs), drive-through banking services, and accessible ATM network designed for people with disabilities across all governorates.

A Milestone in Gulf Bank’s Sustainability Journey

Gulf Bank’s 2025 Sustainability Report marks an important milestone in its transition toward institutional sustainability. The launch of Corporate Strategy 2030, strengthened governance structures, and enhanced climate disclosures through an expanded emissions inventory aligned with international best practices demonstrate the Bank’s commitment to long-term sustainable growth.

The report highlights Gulf Bank’s ability to translate sustainability ambitions into measurable outcomes, particularly through reducing purchased electricity emissions, maintaining strong Kuwaitization levels, and supporting the local economy through a supplier base that is more than 97% local.

This version is written in a professional corporate and media style suitable for publication, investor communications, or international ESG reporting.