Warba Bank KSCP (WARBABANK`R)

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News

16 February 2019 06:29 PM Warba Bank acquires majority stake in KMEFIC

Mubasher: Warba Bank has signed an agreement with Ahli United Bank (AUB) to buy 75.72% stake in Kuwait and Middle East Financial Investment Company (KMEFIC). The deal will be closed following the receiving of all regulatory approvals, Kuwait News …

Mergers and Acquisitions

13 February 2019 01:21 PM Salhia Real Estate inks leasing deal with Warba Bank

Mubasher: Salhia Real Estate has signed an official leasing agreement with Warba Bank for plots up to 14,603 square metres distributed through 22 floors in Al Raya Tower. The building is fully owned by Salhia Real Estate, according to a bourse …

Companies Investments

10 February 2019 01:44 PM Warba Bank buys AUB Bahrain’s equity in KMEFIC for KWD 10m

Mubasher: Warba Bank has signed an agreement with Ahli United Bank – Bahrain (AUB Bahrain) and its subsidiary in Kuwait to purchase their shares in Kuwait and Middle East Financial Investment (KMEFIC). Warba Bank will buy 196.35 million shares …

Banking and Finance

4 February 2019 01:49 PM Warba Bank’s official sells equity in bank

Mubasher: Boursa Kuwait announced that Warba Bank’s board member Eid Nasser Ali Al Rashedi has sold 180,000 shares in the bank during Sunday’s session, 3 February 2019. Selling the shares was at a value of KWD 39,420 or 219 fils per share, …

Banking and Finance

31 January 2019 11:25 AM Warba Bank to launch Islamic products through KMEFIC

Mubasher: Warba Bank plans to launch sharia-compliant investment products through acquiring a stake in Kuwait and Middle East Financial Investment (KMEFIC), the Kuwaiti lender’s CEO said. The takeover of KMEFIC aims to increase profits from …

Companies Investments

30 January 2019 00:50 PM Warba Bank profit jumps 71% in 2018

Mubasher: Warba Bank registered a 71% year-on-year profit surge to KWD 12.74 million ($42.12 million) in 2018, against KWD 7.45 million ($24.63 million). The Kuwaiti lender attributed the annual profit rise to the increase in its financing …

Financial Results

21 January 2019 03:14 PM Talks in progress over acquiring 74% stake in KMEFIC - Warba Bank

Mubasher: Warba Bank is still in negotiations with Bahrain's Ahli United Bank (AUB) and Ahli United Bank - Kuwait (AUB Kuwait) to purchase their shares in Kuwait and Middle East Financial Investment (KMEFIC). No final agreement has been reached …

Banking and Finance

20 January 2019 10:39 AM Warba Bank in talks over acquiring 74% stake in KMEFIC

Mubasher: Ahli United Bank (AUB) and Ahli United Bank - Kuwait (AUB Kuwait) are in negotiations with Warba Bank to sell their shares in Kuwait and Middle East Financial Investment (KMEFIC). When a final agreement has been reached, it has to be …

Corporate Actions

16 January 2019 05:52 PM Oula Fuel Marketing secures KWD 9.5m facility

Mubasher: Oula Fuel Marketing has signed a KWD 9.5 million facility agreement with Warba Bank. The new loan will not impact the company’s current financial status, Oula said in a bourse statement, adding that it would disclose any effect resulting …

Banking and Finance

18 December 2018 04:48 PM Warba Bank capital hike subscribed 206%

Mubasher: Warba Bank has announced on Monday that the procedures for raising its capital were subscribed 205.8%, Al Anbaa Newspaper reported. The rights issue value stood at KWD 185.2 million and was closed on 9 December 2018 after 500 million …

Companies Investments

10 December 2018 01:18 PM Warba Bank’s rights issue fully subscribed

 Warba Bank announced that the subscription for its capital was fully covered.

Global Reports

5 December 2018 10:38 AM Kuwait C.bank nods to acquiring stakes in Warba Bank

Mubasher: Warba Bank announced that the Central Bank of Kuwait has approved for Abdullah Saleh AlShaflan to own a stake of 15% in the bank, according to a bourse statement on Wednesday. The bank clarified that this approval has a duration of three …

Central Banks

19 November 2018 03:20 PM Warba Bank says distributing dividends will be hard for 2018

Mubasher: Distributing cash dividends to the shareholders of Warba Bank is expected to be hard this fiscal year 2018 in line with the increase of its capital, the CEO of Warba Bank Shaheen Hamed Al Ghanim said. Banks tend to raise its cash flow …

Banking and Finance

6 November 2018 02:58 PM Kuwait’s banking sector logs KWD 301m profits in Q3

By: Mohamad Farouk Mubasher: The income statements of eleven banks in Kuwait showed an increase of 18.6% in profits during the third quarter of 2018 compared to the same period in the prior year. Earnings grew to KWD 301.5 million ($994.9 million) …

Financial Results

31 October 2018 05:25 PM Warba Bank nods to 50% capital hike

Mubasher: The extraordinary general meeting (EGM) of Warba Bank approved increased the issued and paid-up capital by 50%. Warba Bank will raise its capital to KWD 150 million from KWD 100 million by adding 1.5 billion shares from 1 billion, …

Corporate Actions

29 October 2018 02:18 PM Warba Bank records KWD 3.5m profits in Q3

Mubasher: Warba Bank achieved an increase of 52% in profits during the third quarter of 2018 compared to the same period a year ago. Earnings grew to KWD 3.48 million ($11.48 million) in Q3-18 from KWD 2.29 million ($7.55 million) in Q3-17, …

Financial Results

3 September 2018 04:05 PM CMA Oks raising Warba Bank’s capital by 50%

Mubasher: Warba Bank on Monday announced that it has obtained the approval of the Capital Market Authority’s (CMA) on increasing its capital by 50%. The Kuwaiti bank’s capital will reach KWD 150 million from KWD 100 million, while its shares will …

Macroeconomics

15 August 2018 04:31 PM CMA OKs Warba Bank’s securities activity licence

Mubasher: Warba Bank on Wednesday announced that it has received Capital Markets Authority’s (CMA) an initial approval and renewable engagement in certain securities activities. The bank is working on fulfilling licensing requirements of the …

Corporate Actions

4 August 2018 06:32 PM Warba Bank profits double in H1

Mubasher: Warba Bank reported a 97% growth in its net profits during the first half of 2018. Profits amounted to KWD 5.198 million in H1-18, compared with KWD 2.645 million for the same period last year. The rise in profits resulted from an …

Financial Results

3 July 2018 00:43 PM Warba Bank’s capital hike boosts shareholders’ equity – Moody’s

Mubasher: Warba Bank clarified that after the Central Bank of Kuwait (CBK) granted its approval on 20 June to increase the capital, Moody’s Investors Service released a report on 28 June that covers the bank’s outlook, according to a bourse …

Ratings

26 June 2018 09:29 AM Warba Bank’s capital hike to lower financing costs – CEO

Mubasher: Raising the capital of Warba Bank by 50% aims at boosting the capital baseline and increasing the bank’s instruments to provide large financing facilities, CEO of Warba Bank Shaheen Al Ghanim has said. The capital hike will lower the …

Management Decisions

21 June 2018 09:13 AM Warba Bank gets nod to 50% capital hike

Mubasher: Warba Bank was granted the Central Bank’s (CBK) approval of increasing the capital by 50% to boost the bank’s regulatory capital adequacy ratio. The capital hike will be executed by issuing new shares through an initial public offering …

Corporate Actions

7 May 2018 11:55 AM Warba Bank affirms offer to buy stake in Global Investment

Mubasher: Warba Bank on Monday confirmed presenting a non-mandatory offer to buy a major stake in Global Investment House (Global).   The Kuwait-based bank will complete the process after receiving the approvals of its board, the Central Bank of …

Companies Investments

30 April 2018 04:21 PM Warba Bank profit leaps 115% in Q1-18

Mubasher: Warba Bank on Monday revealed a 115% year-on-year surge in its profits for the first quarter of 2018. Total revenues of the Kuwait-based Islamic bank surged 54% quarter-on-quarter to KWD 18.77 million in Q1-18. The lender's operating …

Financial Results

24 April 2018 04:00 PM Moody’s affirms Warba Bank rating at “Baa2”

Mubasher: Warba Bank said that Moody’s Investors Service has affirmed the bank’s long-term deposits at “Baa2”, with a “Stable” Outlook. Moody’s noted that the Baseline Credit Assessment (BCA) of the bank reflects the Kuwaiti government’s plan to …

Ratings