NCB reported third-quarter profits of SR878m ($233m), compared to SR1.26bn for the three months to the end of September 2007.
Profits for the first nine months of the year were down 4.9 per cent to SR4.58bn.
The bank said its loans and advances grew by 28.9 per cent to SR111.85bn at the end of September, while deposits grew by only 14.4 per cent, bringing total deposits to SR156.4bn.
The bank says it does not have any direct exposure to defaulting mortgage-based assets.
National Bank of Kuwait has also reported a 10 per cent decline in profit for the third quarter, at KD68.6m ($256m).