Al Ahli Bank of Kuwait (ABK`R)

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News

1 June 2016 02:50 PM CBK, ABK exit Kuwait-15 index

Kuwait-Mubasher: Boursa Kuwait Company has reevaluated the firms listed under Kuwait-15 index by the end of May, according to an issued statement. Thus, the Commercial Bank of Kuwait (CBK) and Al Ahli Bank of Kuwait (ABK) have exited the index, …

Markets Regulations

26 May 2016 04:18 PM ABK gets approval to buy/sell shares

Kuwait-Mubasher: The Central Bank of Kuwait has agreed to extend Al Ahli Bank of Kuwait’s (ABK) purchase or sell programme for 10% or less of its shares, according to a bourse statement. The buy/sell period has duration of six months from 10 June …

Macroeconomics

26 May 2016 01:57 PM Moody’s assigns ‘A2’ rating to ABK

Kuwait-Mubasher: Al Ahli Bank of Kuwait (ABK) said that Moody’s Financial Services assigned the bank’s long-term global local currency deposit rating at A2, with a future ‘Stable’ outlook, according to a bourse statement. The rating “reflects our …

Ratings

15 May 2016 09:01 AM ABK Q1 profits down 14% on provisions

  Kuwait – Mubasher: Al Ahli Bank of Kuwait (ABK) on Sunday posted a net profit of KWD 7.76 million ($25.73 million) in the first three months of the year, registering a 14.4% decline from KWD 9.06 million ($30.04 million) reported in the year-ago …

Financial Results

26 March 2016 01:33 PM ABK shareholders endorse 10% cash dividends for 2015

By Ahmed Awad Kuwait – Mubasher: The ordinary general meeting of Al Ahli Bank of Kuwait (ABK) gave a nod on Saturday to the distribution of cash dividends for 2015 at 10% of capital, or 10 fils per share. The approved dividends total KWD 16.2 …

General Assembly

25 March 2016 07:13 PM Kuwait's ABK may raise capital in 2017, says CEO

By Ahmed Awad Kuwait – Mubasher: Ah Ahli Bank of Kuwait (ABK) may carry out a capital increase in 2017 to proceed with its growth and expansion plan, said the lender's chief executive in an exclusive interview with Mubasher. CEO Michel Accad added …

Companies Investments

6 March 2016 04:07 PM Kuwaiti equities see weekly changes

Kuwait-Mubasher: Alshall Investment Company increased its stake in Injazzat Real Estate Development by 0.644% to 12.814% from 12.17%, according to a recent report issued by Al-Joman Center for Economic Consultancy. Nasca Hollings raised its stake …

Mergers and Acquisitions

17 February 2016 01:27 PM ABK files with GAFI regard acquisition of Piraeus Bank Egypt

Cairo – Mubasher: Al Ahli Bank of Kuwait ( ABK) said it submitted a request to the General Authority for Investment and Free Zones (GAFI) to secure its approval regards its acquisition of  100% of Piraeus Bank Egypt. Around 7.4% or 117,150 stocks …

Corporate Actions

10 February 2016 02:00 PM ABK’s Q4 profits fall 89%; dividends proposed

Kuwait-Mubasher: Al Ahli Bank of Kuwait (ABK) reported a plunge of 89% in earnings for the fourth quarter in 2015, according to a bourse statement. ABK has achieved KWD 1.14 million ($3.8 million) profits in Q4-15, compared to KWD 10.3 million …

Financial Results

4 February 2016 02:04 PM Noor repays KWD 4.31m to ABK

Kuwait-Mubasher: Noor Financial Investment said it has repaid KWD 4.31 million to Al Ahli Bank of Kuwait (ABK) on Thursday. Noor said in a bourse statement that this repayment is part of the company’s debts due to ABK, in light ofthe firm’s plan …

Banking and Finance

29 December 2015 02:02 PM Piraeus Bank Egypt addresses investors to convert ISIN code

Cairo - Mubasher: Piraeus Bank Egypt addressed its investors, thus did not respond to the buy offer submitted by Al Ahli Bank of Kuwait, to convert their stocks from the ISIN code in US dollar to Egyptian pound. The investors will have to submit a …

Mergers and Acquisitions

28 December 2015 10:28 AM EGX to open OPR market for Piraeus Bank Egypt

Cairo-Mubasher: The Egyptian Exchange (EGX) will open the OPR market for 10 working days starting 29 December to place the sell and buy orders on Piraeus Bank Egypt. Earlier, the Egyptian Financial Supervisory Authority (EFSA) said received an …

Mergers and Acquisitions

27 December 2015 06:03 PM Kuwait’s ABK offers to buy Piraeus Bank’s remaining shares

Cairo – Mubasher: Al Ahli Bank of Kuwait has submitted a mandatory tender offer for the remaining 1.51% in Piraeus Bank Egypt, Egypt’s market regulator said on Sunday. The Kuwaiti lender has requested the purchase of shares at $1.47 each. ABK’s …

Companies Investments

26 November 2015 11:48 AM Moody’s affirms ABK’s local currency deposit at ‘A2’

Kuwait-Mubasher: Al Ahli Bank of Kuwait (ABK) said that Moody’s Ratings Agency has affirmed the bank’s long-term local currency deposit at ‘A2’, with a ‘Stable’ future outlook, according to a bourse statement. Moody’s has affirmed ABK’s baseline …

Stock Evaluations

24 November 2015 02:35 PM Kuwait's ABK seeks to raise Piraeus Bank Egypt capital

Cairo - Mubasher: Al Ahli Bank of Kuwait (ABK) plans to increase the capital of Piraeus Bank Egypt to EGP 1 billion through the upcoming period, after cutting it earlier to EGP 800 million, said Michel Accad, CEO. ABK acquired so far 98.5% of …

Mergers and Acquisitions

10 November 2015 03:12 PM Kuwait’s ABK completes Piraeus Bank Egypt takeover

Kuwait/Cairo – Mubasher: Al Ahli Bank of Kuwait (ABK) announced on Tuesday the completion of procedures of a deal to acquire a 98.5% stake in Piraeus Bank Egypt, as equity in the bank has been successfully transferred to ABK’s ownership on 10 …

Mergers and Acquisitions

25 October 2015 02:27 PM ABK posts KWD 29.2m profits in 9M

Kuwait-Mubasher: Al Ahli Bank of Kuwait (ABK) announced a growth of 7.1% to KWD 29.23 million in earnings of the first nine months of 2015, as compared to KWD 27.29 million reported in the same period a year ago. The bank’s Q3 profits increased to …

Financial Results

7 October 2015 00:55 PM UAE banks join consortium for $155m Kenya loan

Dubai-Mubasher: CFC Stanbic Bank Limited in Kenya, a unit of Standard Bank Group Limited in South Africa, signed a dual tranche term loan facility worth $155 million on 5 October 2015, in Dubai. Emirates NBD Capital Limited was the sole …

Banking and Finance

27 September 2015 08:57 AM Al Shall reviews Kuwaiti banks performance in H1

Kuwait-Mubasher: Al Shall Consulting completed the last analysis for the individual performance of the 10 Kuwaiti banks in the first half of 2015. The banking sector’s net profits, after deducting taxes and equities rights, increased by 13.3% or …

Financial Results

13 September 2015 02:23 PM Moody’s affirms ABK at ‘baa3’

Moody's Investors Service kept its credit rating of Al Ahli Bank of Kuwait (ABK) unchanged, according to a recent report. The rating agency kept ABK’s baseline credit assessment at “baa3”, with a “Stable” Outlook. Moody’s affirmed bank deposits at …

Ratings

9 September 2015 09:11 AM Changes in KSE equities Tuesday

Kuwait-Mubasher: Kuwait Stock Exchange’s (KSE) saw a number of changes in equity ownership on 8 September, as Al Ahli Bank of Kuwait increased its stake in Al Mal Investment by 0.003% to 5.153% from 5.15%. Shareholder Reda Abdul Hadi decreased its …

Trading Activities

23 August 2015 04:29 PM Kuwait’s ABK to buy OW’s stake in Piraeus Bank Egypt

By Ahmed Awad Kuwait – Mubasher: Al Ahli Bank of Kuwait (ABK) is awaiting completion of procedures to acquire an 89.5% stake in Piraeus Bank Egypt within a month to submit a bid to buy remaining shares, said CEO Michel Accad. Speaking exclusively …

Mergers and Acquisitions

23 August 2015 00:20 PM Kuwait’s ABK exempted from submitting mandatory offer for Piraeus

Cairo-Mubasher: The Egyptian Financial Supervisory Authority (EFSA) has exempted Al Ahli Bank of Kuwait (ABK from submitting a mandatory tender offer to a 98.5% stake in Piraeus Bank Egypt, the bank said in a bourse filing. Earlier, the Kuwaiti …

Mergers and Acquisitions

23 August 2015 09:08 AM Kuwait’s ABK operational incomes boost H1 profits

AlAhli Bank of Kuwait (ABK) showed a growth of 7.1% or KWD 1.4 million to KWD 20.4 million in its earnings of the first half as compared to KWD19.1 million in the same period of 2014, according to a report issued by AlShall Consulting. The report …

Company News

20 August 2015 11:32 AM Kuwait’s ABK gets regulatory nod to buy Piraeus Bank Egypt

Kuwait – Mubasher:  Al Ahli Bank of Kuwait (ABK) said it obtained the approval of Egyptian Financial Supervisory Authority (EFSA) to acquire a 98.5% stake in Piraeus Bank Egypt. After concluding a $150 million deal with Piraeus, ABK is expected to …

Mergers and Acquisitions