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13 May 05:31 AM

Sector News

The growth in Q1 profits is attributed to higher operating revenues of KWD 4.8 million
10 April 2018 10:09 AM Boubyan Bank records 18% rise in Q1 profits
Mubasher: Boubyan Bank achieved an increase of 17.8% in profits during the first quarter of 2017 compared to the same quarter in the prior year. Earning grew to KWD 12.56 million ($41.93 million) in Q-18 from KWD 10.66 million ($35.59 million) in …
Financial Results
Earning per share (EPS) reached 15 fils in Q1-18
9 April 2018 05:20 PM NBK reports KWD 93.6bn profit in Q1-18
Mubasher: National Bank of Kuwait (NBK) on Monday posted a 9.6% year-on-year growth in its profits for the first quarter of 2018. The lender's profits amounted to KWD 93.6 billion in Q1-18, compared to KWD 85.4 billion in the same quarter a year …
Financial Results
The net lettable area of Menara Prestige tower amounts to about 500,000 square meter
9 April 2018 11:09 AM KFH to sell Menara Prestige for $194m
Mubasher: Kuwait Finance House (KFH) announced offering Menara Prestige tower, which is located in Kuala Lampur in Malaysia, for sale. The Kuwait-based firm is seeking to sell the grade A, 36-storey property with a value ranged between $181 …
Companies Investments
ABK has raised its stake in HEISCO to 15.3%
3 April 2018 04:32 PM ABK raises equity in HEISCO by 5.51%
Mubasher: The equity ownership movement registered in Boursa Kuwait showed that Al Ahli Bank of Kuwait (ABK) has increased its stake in Heavy Engineering Industries and Shipbuilding (HEISCO) by 5.51% during Monday’s session, 2 April. ABK has …
Trading Activities
AUB Kuwait’s shareholders elected new board members
2 April 2018 09:43 AM AUB Kuwait nods to FY17 dividends, bonus
Mubasher: The ordinary general meeting (OGM) of Ahli United Bank – Kuwait (AUB Kuwait) approved on Sunday the board’s recommendation to distribute 13% and 5% of the capital as cash dividends and bonus shares, respectively, for fiscal year 2017. …
Board of Directors
CBK’s shareholders also approved raising the capital to KWD 164.63 million
1 April 2018 00:35 PM CBK nods to FY17 dividends, bonus; capital hike approved
Mubasher: The ordinary general meeting (OGM) of the Commercial Bank of Kuwait (CBK) approved the board’s recommendation to distribute 18% of capital as cash dividends for fiscal year 2017. The Kuwait-based lender will pay 18 fils per share as …
Cash Dividends
Operating profits increased by 8% in FY17 to KWD 130.2 million
28 March 2018 03:42 PM Burgan Bank’s shareholders nod to FY17 dividends, bonus
Mubasher: Burgan Bank will distribute 7% of the capital as cash dividends and 5% bonus shares, upon the ordinary general meeting’s (OGM) approval. The Boursa Kuwait-listed bank will pay 7 fils per share dividends for FY17, in addition to …
Financial Results
Bank lending was stagnated in a range of sectors
27 March 2018 06:33 PM Banks to boost UAE's growth in 2018 – NBK
Dubai – Mubasher: The UAE banking system has adjusted to the decrease in oil prices, which will enable it to back the nation's growth rate this year. Credit is still declining, recording a rise of 0.5% year-on-year in 2018, down from 11% …
Financial Results
The loan will be used for general financing
25 March 2018 08:59 AM Burgan Bank closes $350m syndicated loan
Mubasher: Burgan Bank on Sunday announced it succeeded in closing a three-year syndicated loan worth $350 million (KWD 105 million) with a consortium of leading international and regional banks. The loan will be used for general financing, as the …
Banking and Finance
Photo Archive
24 March 2018 10:11 PM KIB approves 10% dividends
Kuwait - Mubasher: The ordinary general meeting (OGM) of Kuwait International Bank (KIB) has approved the board of directors’ recommendation to distribute cash dividends at 10 fils per share, equivalent to 10% of the company’s capital. The bank …
Financial Results
Warba Bank registered a growth of 35% in the clients’ deposits in FY17
21 March 2018 04:28 PM Warba Bank’s financing portfolio grows 53% in FY17
Mubasher: The financing portfolio of Warba Bank increased by 53%to register KWD 1.263 billion in fiscal year 2017 compared to KWD 828 million in the previous fiscal year, the deputy chairman of the bank, Bassel Al Haroun, said. Al Haroun clarified …
Banking and Finance
Warba Bank has postponed its EGM to 27 March
20 March 2018 03:08 PM Warba Bank nods to board’s no dividend proposal for FY17
Mubasher: The ordinary general meeting (OGM) of Warba Bank approved the board’s recommendation of zero dividends for the fiscal year ended on 31 December 2017. The Kuwait-based bank has postponed its extraordinary general meeting (EGM) to 27 March …
General Assembly
KFH has maintained its profitability and growth despite the challenges in the region
19 March 2018 02:36 PM KFH nods to FY17 dividends, bonus shares
Mubasher: The ordinary general meeting (OGM) of Kuwait Finance House (KFH) has approved the board’s recommendation to distribute 17% of capital as cash dividends for fiscal year 2017. The Islamic bank will pay 17 fils per share to the entitled …
Financial Results
This funding will promote KIB’s profitability in the long term
18 March 2018 04:01 PM KIB pledges KWD 32m in funding Kuwait Oil Tanker
Mubasher: Kuwait International Bank (KIB) announced that it has earmarked KWD 32 million in the funding provided to Kuwait Oil Tanker Co. This sum represents 22.8% of the overall KWD 140 million funding, according to a bourse statement issued on …
Companies Investments
The increase in the capital represents the 5% bonus shares approved for FY17
18 March 2018 10:33 AM Boubyan Bank to raise capital by KWD 11m
Mubasher: The extraordinary general meeting (EGM) of Boubyan Bank has approved increasing the authorised, issued, and paid-up capital by KWD 11.38 million. The Kuwait-based bank will raise its capital to KWD 238.85 million from KWD 227.47 million, …
Corporate Actions
ABK will pay 12 fils per share as dividends for FY17
18 March 2018 10:14 AM ABK shareholders nod to 12% dividends for FY17
Mubasher: The ordinary general meeting (OGM) of Al Ahli Bank of Kuwait (ABK) approved the board’s recommendation to distribute 12% of capital as a cash dividend for fiscal year 2017. The Kuwait-based lender will pay 12 fils per share as dividends …
General Assembly
The deal is still under negotiations
15 March 2018 01:45 PM Ezdehar Fund, NBK Capital bid for majority stake in Misr Café
Cairo – Mubasher: Ezdehar Egypt Mid-Cap Fund, Ezdehar Management’s affiliate, and NBK Capital Company, National Bank of Kuwait’s (NBK) unit, submitted two bids for acquiring a majority stake in Misr Café​ Company, Al Mal newspaper reported on …
Companies Investments
Boubyan Bank will pay 7 fils per share as a dividend for FY17
11 March 2018 01:29 PM Boubyan Bank to pay KWD 15.8m cash dividends for FY17
Mubasher: The ordinary general meeting (OGM) of Boubyan Bank approved the board’s recommendation to distribute 7% of capital as cash dividends and 5% as bonus shares for the fiscal year 2017. The Kuwait-based lender will pay 7 fils per share as a …
Financial Results
NBK’s assets went up 7.4% to KWD 26 billion in 2017
11 March 2018 09:21 AM NBK OKs 30% cash dividends for 2017
Mubasher: The National Bank of Kuwait (NBK) has announced that the ordinary and extraordinary general assembly approved distributing 30% of cash dividends to the shareholders, equivalent to 30 fils per share. The bank will also distribute bonus …
Cash Dividends
Burgan Bank disclosed a decline of 4.4% in profits in FY17
8 March 2018 03:07 PM Burgan Bank to consider FY17 dividends, capital hike
Mubasher: Burgan Bank will hold its ordinary general meeting (OGM) on 28 March to discuss the board’s recommendation of distributing 7% of capital as a cash dividend for fiscal year 2017. Burgan’s board proposed paying 7 fils per share for FY17, …
General Assembly
GBK will pay 9 fils per share dividends for FY17
7 March 2018 02:37 PM GBK shareholders nod to 9 fils/shr dividends for FY17
Mubasher: The ordinary general meeting (OGM) of Gulf Bank of Kuwait (GBK) approved the board’s recommendation to distribute 9% of capital as cash dividends for fiscal year 2017. GBK will pay 9 fils per share dividends for FY17, an increase of 29% …
Corporate Actions
The board members have proposed 10% of capital as dividends
4 March 2018 04:34 PM KIB to consider 10% dividends late March
Mubasher: Kuwait International Bank (KIB) will hold its ordinary general meeting (OGM) on Saturday, 24 March, to discuss the board’s recommendation of distributing dividends for fiscal year 2017. The board members have proposed 10% of capital or …
Financial Results
Real estate deals in Kuwait hit KWD 2.5bn in 2017 – Report
3 March 2018 00:35 PM Real estate deals in Kuwait hit KWD 2.5bn in 2017 – Report
Mubasher: Total value of real estate transactions in Kuwait amounted to KWD 2.5 billion ($ 7.5 billion) in 2017, a report by Kuwait Finance House (KFH) revealed. There were 5,280 transactions which were implemented in Kuwaiti real estate sector, …
Corporate Actions
Warba Bank’s capital stands at KWD 100 million
28 February 2018 03:19 PM Warba Bank denies news on capital hike
Mubasher: Warba Bank clarified that the news article on raising the bank’s capital was not stated by Warba. Warba said that the bank was not informed about the source of this news article which was published in a local newspaper on Wednesday. …
Companies Investments
Earnings of the total 60 firms declined to KWD 398.22 million ($1.33 billion) in Q4-17
26 February 2018 04:47 PM 60 listed firms post 5% decline in Q4-17 profits
By: Mohamad Farouk Mubasher: The income statements of 60 companies listed on Boursa Kuwait reported a decrease of 4.9% in profits during the fourth quarter of 2017 compared to the same quarter in 2016. Earnings of the total 60 firms declined to …
Financial Results