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26 December 2024 06:54 PM Two GCC banks witness 100% acquisition transaction
Mubasher: Burgan Bank has recently received the final approval from the Central Bank of Kuwait (CBK) to acquire 100% stake in United Gulf Bank (UGB), a licensed conventional wholesale bank headquartered in Bahrain. The execution of this …
Banking and Finance
Photo Archive
25 December 2024 11:20 PM NBK’s Weyay Bank unveils service to boost cross-border payments within GCC
Mubasher: Weyay, part of the National Bank of Kuwait (NBK), has launched AFAQ service to endorse bank transfers between the GCC countries while linking the payment systems of the Gulf countries, according to a press release. The new service …
Banking and Finance
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22 December 2024 08:45 PM NBK sponsors Bloom Market to promote sustainability within Kuwaiti community
Mubasher: The National Bank of Kuwait (NBK) sponsored the Bloom Market, a pioneering event held at Al Raya Shopping Center organised by Seeds, which gathered eco-friendly vendors and sustainable brands in one vibrant space, according to a press …
Event
Raed Jawad Bukhamseen, Vice Chairman and CEO of KIB, and Jamal Al Barrak, CEO of KIB Invest
9 December 2024 10:52 AM KIB Invest, UAE-listed banks lead Bahrain’s 7-year Sukuk issuance
Mubasher: Kuwait International Bank (KIB), through its investment arm KIB Invest, served as joint lead manager (JLM) in the issuance of a seven-year for Bahrain via CBB International Sukuk Programme Company W.L.L. The USD-denominated senior …
Global Economy
Photo Archive
1 December 2024 00:28 PM NBK-Egypt’s net profits surge 101% in 9M-24
Cairo – Mubasher: National Bank of Kuwait - Egypt (NBK-Egypt) generated net profits of EGP 5.20 billion in the first nine months (9M) of 2024, an annual leap of 101% from EGP 2.60 billion. Net operating income stood at EGP 9.70 billion as of 30 …
Banking and Finance
Photo Archive
16 September 2024 11:57 AM Nama Chemicals unveils SAR 35.5m loan from NBK
Riyadh – Mubasher: Nama Chemicals Company rescheduled its SAR 35.50 million loan from the National Bank of Kuwait (NBK) on 15 September 2024, according to a bourse disclosure. The existing loan is set to mature on 24 October 2025, while the tenor …
Companies Investments
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8 July 2024 00:54 PM NBK seals 5-year deal to deploy Super iPaaS solution in Middle East
Mubasher: The National Bank of Kuwait (NBK) has entered into a five-year strategic partnership agreement with Software AG, a leading technology solutions company, to utilise its Super iPaaS solution as a unified platform for integrating …
Banking and Finance
Photo Gallery
19 June 2024 03:08 PM National Bank of Egypt signs $1bn syndicated loan; regional, international entities partake -Update
Cairo – Mubasher: The National Bank of Egypt (NBE) has announced, on 19 June 2024, the successful signing of a $1 billion senior unsecured syndicated term loan facility in which several regional and global financial institutions participated. The …
Banking and Finance
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15 April 2024 02:41 PM Qalaa Holdings settles over EGP 13bn in debt with 5 banks
Cairo – Mubasher: Qalaa Holdings has signed an agreement with five banks to settle around EGP 13.45 billion in debt. The first agreement was signed with Banque Misr, Banque du Caire, Arab African International Bank, and Al Ahli Bank of Kuwait to …
Companies Investments
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7 December 2023 00:36 PM Travellers through Kuwait International Airport now offered multi-currency ATM by KIB
Mubasher: The listed Kuwait International Bank (KIB) has installed a new multi-currency ATM at the Kuwait International Airport to offer a smoother and more integrated experience for its customers without the need to visit any of the KIB’s …
Banking and Finance
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20 December 2022 03:53 PM Nama Chemicals secures SAR 90m loans from Riyad Bank, NBK
Riyadh – Mubasher: Nama Chemicals Company obtained SAR 90 million facilities from Riyad Bank and the National Bank of Kuwait (NBK) on 19 December 2022, according to a bourse disclosure. The Saudi firm penned a Murabaha facility deal worth SAR 60 …
Banking and Finance
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23 August 2022 02:42 PM NBK-Egypt sees 9% higher profits in H1-22
Mubasher: The National Bank of Kuwait-Egypt (NBK-Egypt) reported net earnings of EGP 756.50 million (about KWD 13.80 million) during the first half (H1) of 2022, according to a statement to Boursa Kuwait on Tuesday. This represents a profit rise …
Banking and Finance
Photo Archive
3 August 2022 09:17 AM East Pipes Integrated secures SAR 275m loan from NBK
Riyadh – Mubasher: East Pipes Integrated Company for Industry has sealed a Sharia-compliant facility agreement worth SAR 275 million with the National Bank of Kuwait (NBK). The Saudi company obtained the loan to finance the working capital of one …
Banking and Finance
Photo Archive
14 December 2021 10:27 AM MIS renews SAR 155m facility with NBK
Riyadh – Mubasher: Al Moammar Information Systems Company (MIS) has renewed a Sharia-compliant facility worth SAR 155 million with the National Bank of Kuwait (NBK). Valid until 31 August 2022, the facility aims to finance new project contracts …
Banking and Finance
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24 November 2021 05:23 PM NBK launches Kuwait’s 1st digital bank Weyay
Mubasher: The National Bank of Kuwait (NBK) has launched Weyay to be the first fully digital bank in Kuwait to serve the youth in the state. Weyay aims to enhance NBK’s position in digitising banking services, according to a press release on …
Banking and Finance
Photo Archive
13 September 2021 04:54 PM NBK issues $1bn Senior Unsecured notes; first of kind across CEEMEA
Mubasher: The National Bank of Kuwait (NBK) has issued bonds worth $1 billion, marking the first callable structure for senior unsecured notes, fixed to floating, across the Central and Eastern Europe Middle East and Africa (CEEMEA) region. Final …
Banking and Finance
The transaction would enhance the bank's financial position
22 August 2021 11:12 AM KIB completes sale of exposure to NMC Healthcare
Mubasher: Kuwait International Bank (KIB) has completed the sale of its exposure to NMC Healthcare Company following the fulfillment of the relevant procedures. The KWD 3.98 million transaction would enhance the bank's financial position; however, …
Banking and Finance
This agreement does not have a present impact on the bank's financial position
31 May 2021 09:37 AM KIB signs agreement to sell $74m exposure to NMC Healthcare
Mubasher: Kuwait International Bank (KIB) has inked an agreement to sell its $74.11 million (KWD 22.74 million) exposure to NMC Healthcare in exchange for $13.25 million (KWD 3.98 million). KIB has granted this exposure to NMC Healthcare in the …
Banking and Finance
Wahby has started his career as an investment banker in Egypt
9 February 2021 02:10 PM Al Ahli Bank of Kuwait names new CEO in UAE
Mubasher: Al Ahli Bank of Kuwait (ABK) has appointed Omar Wahby as the bank's CEO in the UAE, according to a press release. With a 25-year experience, Wahby has started his career as an investment banker in Egypt and occupied senior roles in a …
Management Decisions
These bonds have fixed and floating interest rates
11 October 2020 04:45 PM NBK exercises call option for KWD 125m subordinated bonds
Mubasher: The National Bank of Kuwait (NBK) has obtained the Central Bank of Kuwait’s (CBK) approval to exercise a call option to redeem KWD 125 million bonds at the interest payment date falling on 5 years from the date of issuance of the bonds …
Bonds
Photo Archive
6 October 2020 00:16 PM NBK announces the retirement of its Group CFO
Mubasher: The National Bank of Kuwait Group (NBK) announced that its Group Chief Financial Officer (CFO) Jim Murphy is retiring after a 20-year career with the Bank. Murphy plans to step down from his position at NBK as of 31 October 2020, …
Board of Directors
The KFH will contribute to KWD 304 million in financing
4 October 2020 00:38 PM NBK, KFH ink KWD 1bn credit facility agreement with KPC
Mubasher: The National Bank of Kuwait (NBK) and Kuwait Finance House (KFH) have signed a credit facility agreement worth KWD 1 billion with Kuwait Petroleum Corporation (KPC) to fund the KPC's capital expenditure. Under the agreement, the KFH …
Banking and Finance
The agreement’s financiers include Al Rajhi Bank and Arab National Bank (ANB).
29 September 2020 09:30 AM Zain KSA signs deal to reschedule SAR 3.85bn Murabaha facility
Riyadh – Mubasher: Mobile Telecommunication Company Saudi Arabia (Zain KSA) signed an agreement to reschedule its existing five-year syndicated Murabaha facility valued at SAR 3.85 billion maturing on 30 September 2020 (originally SAR 5.9 billion, …
Companies Investments
Photo Archive
15 September 2020 03:47 PM Fitch affirms KIB’s long-term A+ rating, with stable outlook
Mubasher: Fitch Ratings has affirmed Kuwait International Bank’s (KIB) long-term issuer default rating (IDR) at 'A+' and viability rating (VR) at “bb-”, with a stable outlook. KIB is exposed to slower domestic economic growth due to the …
Ratings
The loan is guaranteed by a promissory note
14 September 2020 10:33 AM MIS extends, amends SAR 84.6m loan with NBK
Riyadh – Mubasher: Al Moammar Information Systems (MIS) Company has amended and extended a Sharia-compliant credit facility agreement with the National Bank of Kuwait (NBK) to finance projects and issue letters of guarantee. The loan is valued at …
Banking and Finance