Kuwait International Bank (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 …

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, …

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 …

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 …

Mubasher: Kuwait International Bank (KIB) has received preliminary approval from the Central Bank of Kuwait (CBK) on 30 June for a Sukuk issuance programme. The value of the issuance is up to KWD 2 billion, or the equivalent in other currencies. …

Mubasher: KIB on Tuesday said that it is too early to estimate the impact of the bank’s exposure to the NMC Healthcare Group. However, it added that, in all scenarios, the exposure’s impact on KIB’s capital adequacy ratio (CAR) is …

Mubasher: KIB announced that it has a total exposure to NMC Healthcare Group worth $74.98 million (KWD 23.13 million) in the form of two syndicated Murabaha facilities. The Kuwaiti lender, however, has no exposure to Finablr, the UAE Exchange …

Mubasher: Shareholders of the Kuwait International Bank (KIB) approved the recommendation of the board of directors to distribute cash dividends for 2019. The approved dividends amount to 7 fils per share, representing 7% of the share’s par value, …

Mubasher: The assets of KIB grew by KWD 520 million or 24% on an annual basis to reach KWD 2.69 billion in the fiscal year ended 31 December 2019 from KWD 2.17 billion.   The increase in assets was backed by growth in its financing portfolio by …

Mubasher: KIB has reported 17.9% lower annual profits for the fiscal year ended 31 December 2019. The profits amounted to KWD 17.15 million ($56.56 million) last year, down from KWD 20.89 million ($68.9 million) in 2018, according to a statement …

Mubasher: Kuwait International Bank (KIB) was chosen to manage for Qatar International Islamic Bank’s (QIIB) Sukuk issuance, the first of its kind in Qatar, according to the Kuwaiti lender’s press release. KIB will manage QIIB’s $300 million …

Mubasher: The financial statements of Kuwait International Bank (KIB) showed a 9.1% annual drop in the profits attributed to the owners of the parent at KWD 3.193 million ($10.54 million) during the third quarter (Q3) of 2019, compared to KWD …

Mubasher: Kuwait International Bank (KIB) has appointed Hesham Ahmad Al-Mubaraki as deputy general manager of wholesale banking – head of domestic commercial banking, according to a bank statement released on Saturday. Al-Mubaraki will oversee 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 KIB’s long-term issuer default rating (IDR) at ‘A+’, with a ‘Stable’ outlook. The bank’s viability rating (VR) was affirmed at 'bb-', KIB said in a filing to Boursa Kuwait on Tuesday. The new ratings enhance …

By: Mohammed Farouk Mubasher: A group of 10 Boursa Kuwait-listed bank grew by 9.4% year-on-year to KWD 247.74 million ($816.13 million) in the second quarter of 2019. On the top, the National Bank of Kuwait (NBK) recorded a growth of 9.9% in …

Mubasher: The value of real estate transactions in Kuwait declined by 17% month-on-month to KWD 283 million ($928.81 million) in June. The number of transactions went down by 19% month-on-month to 485 in June, according to a report released …

Mubasher: Kuwait International Bank’s (KIB) financing portfolio grew 13% year-on-year to KWD 1.72 billion ($5.65 billion) during the first six months of 2019, chairman Sheikh Mohammed Jarrah Al-Sabah announced on Thursday. The bank’s total assets …

Mubasher: The Kuwaiti bank KIB achieved a profit of KWD 3.39 million ($11.17 million) during the second quarter of 2019, 20.6% lower than KWD 4.27 million ($14.07 million) registered in the corresponding period a year ago. During the first six …

Mubasher: The total value of real estate sales in Kuwait reached KWD 1.88 billion ($5.9 billion) during the first six months of 2019, a report by Kuwait International Bank (KIB) showed on Saturday, according to the Kuwait News Agency (KUNA). The …

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: Property sales in Kuwait grew 11% year-on-year in May, according to a report released on Saturday by Kuwait International Bank (KIB). Sales in the GCC country’s recorded KWD 341 million ($1.123 billion) last month. The number of property …

Mubasher: Kuwait International Bank (KIB) on Tuesday announced that it received the proceeds of $300 million AT1 sukuk. The sukuk offering was listed on the Irish Stock Exchange (Euronext Dublin), according to a bourse statement. In May, the …

Mubasher: KIB has issued AT1 perpetual Sukuk at a total value of $300 million under Tier 1 capital as per Basel III and CBK guidelines at an annual profit rate of 5.625%. This sukuk issue comes as a result of the bank’s outstanding achievements …

Mubasher: Kuwait’s Capital Markets Authority (CMA) on Thursday approved Kuwait International Bank’s (KIB) request to issue up to $300 million perpetual additional Tier 1 capital securities. The subscription will be limited to professional clients …