Al Ahli Bank of Kuwait (ABK)

Cairo – Mubasher: Qalaa Holdings has signed an agreement to settle debt 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 …

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 …

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 …

Cairo – Mubasher: Al Ahli Bank of Kuwait - Egypt (ABK - Egypt) reported a 54% year-on-year (YoY) increase in its net profits, logging EGP 354 million in the first half (H1) of 2020, the Middle East News Agency (MENA) reported on Wednesday. The …

Mubasher: Moody’s Investors Service has affirmed the long-term deposits rating of Ahli Bank of Kuwait (ABK) at ‘A2’, with a ‘Stable’ outlook. The ‘baa3’ standalone Baseline Credit Assessment (BCA) reflects the lender’s strong capitalisation, …

Cairo – Mubasher: Al Ahli Bank of Kuwait - Egypt (ABK-Egypt) reported a 22% year-on-year (YoY) growth in its net profits to EGP 140 million during the first quarter of 2020. The lender’s net operating profit amounted to EGP 316 million in the …

Mubasher: The Central Bank of Kuwait (CBK) approved Ahli Bank of Kuwait’s request to appoint three top executives.   In this respect, Abdulla Mohammad Alsumait has been named as the deputy CEO for the ABK group, according to a stock exchange …

Mubasher: The general assembly of Al Ahli Bank of Kuwait (ABK) agreed to distribute a cash dividend distribution of seven fils per share or 7% of the share’s nominal value for 2019. The distribution will be to the shareholders registered on …

Mubasher: Al Ahli Bank of Kuwait (ABK) on Wednesday revealed that its exposures to troubled NMC Healthcare Group, totalling KWD 13.6 million, represent 0.31% of the bank’s loan portfolio. The impact of the exposure on the capital adequacy ratio …

Mubasher: Al Ahli Bank of Kuwait (ABK) said that its exposure to the NMC Healthcare Group amounts to $26.28 million (KWD 8.11 million) and AED 65.44 million ($5.49 million). The Kuwaiti lender has no exposure to any subsidiary of NMC, according to …

Mubasher: Al Ahli Bank of Kuwait (ABK) recorded KWD 28.7 million during the fiscal year ended on 31 December 2019, down by 32% from KWD 42.12 million in 2018. Earnings per share (EPS) totalled 14 fils last year, according to a press release on …

Mubasher: Al Ahli Bank of Kuwait (ABK) concluded a buy and sell agreement on 31 January 2020 for the full acquisition of Bank & Clients, a UK fully licensed bank.      The acquisition will be subject to the approvals of regulatory authorities in …

Mubasher: The CEO of Al Ahli Bank of Kuwait (ABK), Michel Ontowan Accad, will retire as of 15 January 2020. The bank’s board of directors approved the CEO's retirement request during the meeting held in mid-December, according to a statement on …

Mubasher: Al Ahli Bank of Kuwait (ABK) said on Monday that Moody's Financial Services assigned the lender’s long-term foreign-currency deposit rating at ‘A2,’ with a ‘stable’ outlook. Furthermore, ABK’s long-term foreign-currency counterparty risk …

By: Mohamed Farouk Mubasher: Al Ahli Bank of Kuwait (ABK) sold its stake in its stake in Kuwait Finance and Investment (KFIC) to stakeholder Falah Hamad Mohammed al Hajri, Boursa Kuwait said. ABK sold a total of 25.984 million KFIC shares at 44 …

Mubasher: Al Ahli Bank of Kuwait (ABK) announced on Thursday the sale of its stake in Kuwait Finance and Investment (KFIC). The sold stake amounted to roughly 25.984 million shares, or 8.047% of KFIC’s capital, according to the lender’s bourse …

Mubasher: Al Ahli Bank of Kuwait (ABK) has incurred net losses worth KWD 7.143 million ($23.57 million) during the third quarter of 2019, against net profits of KWD 7.94 million ($26.2 million) in the corresponding quarter in 2018. During the …

Mubasher: The National Bank of Kuwait (NBK) and the Kuwait Finance House (KFH) have jointly managed and issued a KWD 350 million ($1.2 billion) financing to the Kuwait Petroleum Corporation (KPC). The two banks were chosen by KPC to manage …

Mubasher: Fitch Ratings has affirmed Ahli Bank of Kuwait’s (ABK) long-term issuer default rating (IDR) at ‘A+’, with a ‘Stable’ outlook. ABK’s short-term IDR was affirmed at ‘F1’, the bank said in a filing to Boursa Kuwait on Monday. Moreover, the …

Mubasher: Fitch Rating has affirmed all ratings of Boubyan Bank and Al Ahli Bank of Kuwait (ABK), with a ‘Stable’ outlook. The agency affirmed Boubyan Bank’s long-term issuer default rating (IDR) at ‘A+’, and the short-term IDRs at ‘F1’. The …

Mubasher: Al Ahli Bank of Kuwait (ABK) achieved a 12% year-on-year increase in profits during the second quarter of 2019. The profits for the period grew to KWD 10.17 million ($33.05 million) in Q2-19 from KWD 9.08 million ($29.91 million) in …

By: Mohamed Farouk Mubasher: Ten Kuwaiti banks listed on Boursa Kuwait are expected to achieve an increase of 9.6% in profits during the first half of 2019, compared to the year earlier, capital market analyst Ahmed Jassim Al Qamr told Mubasher. …

Mubasher: Alafco Aviation Lease and Finance Co has signed an unsecured consolidated financing agreement valued at $470 million for a period of five years. This unsecured loan will be operated by Al Ahli Bank of Kuwait (ABK) – Dubai International …

Mubasher: Al Ahli Bank of Kuwait (ABK) reported a 23.6% year-on-year growth in profits during the first quarter of 2019. ABK’s profits amounted to KWD 12.4 million ($40.84 million) during Q1-19, up from KWD 10.04 million ($33.06 million) in Q1-18, …

Mubasher: Kuwait Finance House (KFH) has been playing a leading role in leveraging blockchain by this technology in instant cross-border remittance service using Ripple’s blockchain technology, according to a recent press release. This emphasises …