Boubyan Bank (BOUBYAN`R)

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News

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

1 July 2020 00:22 PM Moody's affirms Boubyan Bank's credit ratings; outlook stable

Mubasher: Moody's Investors Service has maintained all the credit ratings of Boubyan Bank, with a 'Stable' outlook, according to the bank's disclosure to Boursa Kuwait on Wednesday. The credit rating agency has affirmed the bank's long-term …

Ratings

9 June 2020 02:06 PM Unicap’s unit seals KWD 3m loan with Boubyan Bank

Mubasher: The Board of Directors of Unicap Investment and Finance has approved the First Kuwaiti Company for Educational Services, one of its subsidiaries, to sign a credit facility agreement worth KWD 2.82 million with Boubyan Bank. The loan will …

Management Decisions

30 March 2020 02:43 PM S&P downgrades Boubyan Bank’s credit rating to ‘-A’

Mubasher: Standard & Poor's Ratings (S&P) has downgraded the long-term credit rating of Boubyan Bank to ‘-A’ from ‘A’ and maintained a 'Stable' outlook. The agency affirmed the bank’s stand-alone credit profile (SACP) at ‘bbb’, according to a …

Banking and Finance

18 March 2020 03:46 PM Aqar agrees one-year Murabaha facilities with Boubyan

Mubasher: Aqar Real Estate Investments Company has obtained Murabaha credit facilities from Boubyan Bank for one year that could be extended. The loan will be rescheduled during three to six months, according to a bourse disclosure on Wednesday. …

Banking and Finance

15 March 2020 00:13 PM Boubyan Bank’s shareholders approve KWD 14m capital hike

Mubasher: Boubyan Bank’s extraordinary general meeting (EGM) has approved increasing the bank’s authorised, issued, and paid-up capital by 144.203 million shares at KWD 14.42 million, representing 5% of the capital. The capital hike will be …

Board of Directors

8 March 2020 05:00 PM Boubyan Bank’s shareholders nod to KWD 26m cash dividends

Mubasher: The ordinary general meeting (OGM) of Boubyan Bank has approved the board’s recommendation concerning the distribution of cash dividends worth KWD 25.95 million or nine fils per share for the fiscal year ended 2019, representing 9% of …

Banking and Finance

12 February 2020 00:34 PM Boubyan Bank issues $750m Sukuk

Mubasher: Boubyan Bank announced the issuance of US dollar-denominated Sukuk worth $750 million. The issuance was oversubscribed by 6.12 times with orders reaching $4.59 billion. The high demand reflects investors’ confidence in Boubyan Bank’s …

Banking and Finance

28 January 2020 00:16 PM Boubyan Bank raises stake in BLME Holdings to 67%

Mubasher: Boubyan Bank announced that it has received approvals from around 39.5% of the Bank of London and The Middle East Holdings (BLME Holdings) shares for its acquisition offer. As of 27 January, Boubyan received valid approvals from 73.26 …

Mergers and Acquisitions

20 January 2020 00:58 PM Boubyan Bank logs 12% higher profits in 2019; dividends approved

Mubasher: The net profits of Boubyan Bank grew by 12% year-on-year (YoY) at KWD 62.65 million ($206.98 million) during the fiscal year ended 31 December 2019 when compared to KWD 56.11 million ($185.37 million).   Earnings per share (EPS) …

Financial Results

8 January 2020 00:37 PM Boubyan Bank receives regulatory approval to acquire BLME Holdings

Mubasher: Boubyan Bank has obtained the approval of the UK's Prudential Regulation Authority (PRA) to acquire Bank of London and The Middle East Holdings (BLME Holdings). The offer remains subject to the terms and conditions set in the takeover …

Banking and Finance

5 January 2020 01:07 PM Moody's affirms Boubyan Bank’s ratings, outlook

Mubasher: Moody's Investors Service has maintained Boubyan Bank’s baseline credit assessment at ‘ba1’ and its outlook as ‘Stable’. Meanwhile, the bank’s long-term and short-term deposits ratings were affirmed at ‘A3’ and ‘P-2’, respectively, …

Ratings

12 December 2019 03:35 PM Boubyan Petrochemical’s profit jumps by 47.3% in Q2-19/20

Mubasher: Boubyan Petrochemical Company’s net profit climbed by 47.3% year-on-year in its second quarter ended 31 October 2019, the company’s bourse disclosure showed on Thursday. Boubyan profit came in at KWD 1.122 million ($3.7 million) in the …

Company News

8 December 2019 10:19 AM Boubyan Bank offers $158m to acquire BLME Holdings

Mubasher: Boubyan Bank has reached an agreement with Bank of London and The Middle East Holdings (BLME Holdings) regarding the conditions of its recommended all-cash offer to fully acquire BLME Holdings’ entire issued and to be issued ordinary …

Mergers and Acquisitions

14 November 2019 02:38 PM S&P assigns ‘A’ credit rating to Boubyan Bank; Outlook stable

Mubasher: Standard and Poor’s rating agency has assigned ‘A’ long-term credit ratings to Boubyan Bank, with a stable outlook. The bank’s anchor and stand-alone credit profile (SACP) was assigned ‘bbb’ rating, according to a bourse statement …

Banking and Finance

5 November 2019 02:05 PM KPC obtains KWD 350m financing from local banks

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 …

Sukuk and Islamic Finance

19 October 2019 08:50 PM EWEC, ACWA Power announce financial closing of Taweelah desalination plant

UAE – Mubasher: Emirates Water and Electricity Company (EWEC), a subsidiary of Abu Dhabi Power Corporation (ADPower), and Saudi Arabia's ACWA Power have announced the successful financial closing of the AED 3.19 billion Taweelah reverse osmosis …

Macroeconomics

9 October 2019 09:58 AM Boubyan Bank logs 12% higher profit in Q3-19

Mubasher: The interim financial statements of Boubyan Bank showed a 12.3% year-on-year increase in profits during the third quarter of 2019. Year-on-year, the profits amounted to KWD 16.36 million ($53.93 million) in Q3-19, compared to KWD 14.57 …

Financial Results

29 September 2019 04:05 PM Fitch affirms ABK, Boubyan Bank’s IDRs at ‘A+’; Outlook ‘Stable’

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 …

Ratings

18 September 2019 03:01 PM Moody’s affirms Boubyan Bank’s rating at 'A3'; Outlook 'Stable'

Mubasher: Moody’s Investors Service has reviewed the status of Boubyan Bank and issued a recent report affirming the ratings previously assigned, with a 'Stable' outlook. Moody’s affirmed Boubyan’s long-term deposits rating at ‘A3’, according to a …

Ratings

9 September 2019 00:16 PM United Real Estate’s unit renews KWD 20m deal with Boubyan Bank

Mubasher: United Real Estate announced that its subsidiary, United Building Co, has signed a contract with Boubyan Bank to renew and raise its credit facilities. The total value of this contract amounts to KWD 30.907 million which will be …

Real estate

18 August 2019 04:13 PM Kuwait C.bank nods to raising NBK’s stake in Boubyan Bank

Mubasher: The governor of Kuwait’s central bank Mohammed Al Hashel approved for the National Bank of Kuwait (NBK) to reduce its stake in NBK-France’s capital to 80.32% from 85%. In addition, Al Hashel approved raising the NBK’s stake in Boubyan …

Central Banks

19 July 2019 11:32 PM Boubyan Bank’s revenue may grow 20% by 2020

Mubasher: Boubyan Bank’s revenue is expected to grow 20% by 2020, a report by Arqaam Capital showed, according to Al-Anba newspaper. Arqaam Capital expected that the Kuwait-listed company’s revenue will reach KWD 183 million by 2020. Profit is …

Financial Results

16 July 2019 03:57 PM Boubyan Bank inks tech services agreement

Mubasher: Boubyan Bank has signed a preliminary agreement with Ripple.Net company for high-quality tech services in relations to money transfers. Under the agreement, the bank’s customers will be offered speed, secure, and safe service, according …

Central Banks

9 July 2019 03:55 PM Boubyan Bank posts 8% YoY profit hike in Q2

Mubasher: Boubyan Bank reported an 8.1% year-on-year increase in net profit during the second quarter of 2019, recording KWD 14.25 million ($47 million). The bank’s profit reached KWD 28.87 million in the first six months of the year, up 12.2% …

Financial Results