Dear Colleagues,

Wishing you and your loved ones health, prosperity and a peaceful 2025.

2024 witnessed significant moments for Qatar including a constitutional development and successful referendum on Shura Council elections, economic initiatives such as covid loan write-offs to support the private sector, defending the AFC Asian Cup title and hosting the FIFA Intercontinental Cup. Qatar also continued its relentless mediation efforts to stop the war on Palestine/Gaza – our prayers go out to all the victims and their families.

I would like to thank every one of you for your dedication and hard work. 2024 was a challenging year on the global, regional, and local fronts. Global inflation and regional wars lasted longer than expected affecting prices, supply chains, consumer sentiment and the talent pool. The automotive sector also underwent corrections and continues to go through a transformation. Despite all of this, we remained focused on our mission and collectively navigated skillfully through all challenges completing projects successfully across many functions and subsidiaries. Take a moment to reflect on your performance, participation and celebrate our collective achievements.

We remain confident and optimistic during 2025. I ask you to stay focused, cost conscious and remember that every decision we make must align with NBK’s core values and the impact we aim to create. Challenges often come with hidden opportunities. Whether it’s rethinking strategies or the way we do things, adopting a new technology, or finding creative solutions to complex problems. Let’s approach change with a mindset of growth, collaboration, efficiency and best in class communication.

As we finalize the 2025 budgets in the coming days, I will communicate to all business leaders our strategic priorities and actions required to tackle the challenges ahead. Your feedback and ideas will be instrumental in shaping our path forward. Our decision making will be carefully considered in the best interest of our shareholders, our customers, our staff, and hence the whole of the NBK group.

I take this opportunity to thank our Chairman, Vice Chair the Board of Directors and all of you for your support and for trusting me as your CEO. NBK is a great organization made up of great people and I am confident that together we can continue to realize sustainable profitable growth.

Regards,

Hani Abdo

Chief Executive Officer