Warba Bank KSCP (WARBABANK)

Mubasher: Warba Bank has received approval from the Central Bank of Kuwait and the Capital Markets Authority (CMA) for the second issuance of Sukuk at a value not exceeding KWD 150 million. The issuance is part of a Sukuk programme at a maximum …

Mubasher: Moody's Investors Service has affirmed Warba Bank’s Baseline Credit Assessment (BCA) and the adjusted BCA at ‘ba3’, and changed the outlook to ‘Stable’ from ‘Positive’. The bank’s long-term and short-term deposits were affirmed at ‘Baa2’ …

Mubasher: Warba Bank’s ordinary general meeting (OGM) approved the distribution of bonus share at 5% of the authorised, issued, and paid-up capital for 2019. The distributions, totalling KWD 7.5 million, will be granted through issuing 75 million …

Mubasher: Warba Bank announced that its exposure to the NMC Healthcare Group could have a slightly negative impact of 0.98% in the worst case scenario. The percentage is “clearly insignificant” in terms of the lender’s commitment to regulatory …

Mubasher: Warba Bank has a total exposure to NMC Healthcare Group of $67.24 million (KWD 20.75 million) in the form of syndicated Murabaha facilities and investment on its Sukuk. However, Warba Bank has no exposure to Finablr, the UAE Exchange …

Mubasher: Warba Bank has reported a 30% year-on-year profit increase during the fiscal year 2019. The bank’s net profit went up to KWD 16.5 million ($53.94 million) last year, compared to KWD 12.74 million ($41.65 million) in the year-ago period, …

Mubasher: Ream Real Estate Company announced that it will reschedule its existing debt with Warba Bank at a value of KWD 5.95 million. The debt covers one of the company’s investments in Kuwait, according to a bourse statement on Thursday.    The …

Mubasher: Ream Real Estate Company said that talks with Warba Bank to settle debt instalments, according to a bourse statement. The talks with the lender are related to the repayment of KWD 600,000, including due financing costs, the real estate …

Mubasher: Fitch Ratings affirmed Warba Bank’s issuer default ratings (IDR) on the long and short terms at ‘A+’ and ‘F1,’ respectively, with a stable outlook, the lender said in a statement. Moreover, the ratings agency confirmed Warba Bank’s …

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: The profits of Warba Bank leapt by 93% year-on-year during the third quarter of 2019, the bank’s financial statements showed. The profits surged to KWD 5.643 million in Q3-19 from KWD 2.929 million in the corresponding quarter a year …

Mubasher: Nasdaq Dubai has welcomed the listing of Warba Bank, one of Kuwait’s leading banks, with the bank’s chief executive Shaheen Al-Ghanem celebrating the listing by ringing the market-opening bell. The bank aims at supporting its expansion …

Mubasher: Fitch Ratings has affirmed Warba Bank’s Long-Term Issuer Default Rating (IDR) at 'A+', with a stable outlook, according to a bourse statement released on Wednesday. The rating agency also affirmed the bank’s Viability Rating (VR) at …

Mubasher: NBK Capital, a subsidiary of National Bank of Kuwait (NBK), has acted as a local bookrunner among other regional and global bookrunners for Warba Bank’s five-year $500 million unsecured sukuk issue, according to a statement released on …

Mubasher: Moody's Investors Service has completed the periodic review of the ratings of Warba Bank and other associated ratings. Moody’s placed the rating of the bank’s Counterparty Risk Rating at ‘Baa1/P-2’, with a ‘Stable’ outlook, the bank said …

Mubasher: Warba Bank announced the issue of $500 million unsecured sukuk for a specific period of five years. This issue is the first of its kind to be issued from a Kuwaiti financial entity, and it will be listed on Nasdaq Dubai and the Irish …

Mubasher: Kuwait’s Capital Markets Authority (CMA) has approved Warba Bank’s prospectus of the new sukuk issue at a value not exceeding $500 million on Monday, 9 September 2019, the bank disclosed to Boursa Kuwait on Wednesday. Earlier in …

Mubasher: Warba Bank has received the Kuwaiti Capital Markets Authority's (CMA) approval to issue sukuk at a value not exceeding $500 million. The issuance is part of a sukuk programme at a maximum value of $2 billion, the bank said in a statement …

Mubasher: Warba Bank, listed on Boursa Kuwait, announced that Emirates Strategic Investments Company (ESIC), owned by Sheikh Mansour Bin Zayed Al Nahyan, has successfully issued $600 million in debut Sukuk. The sukuk issuance has a tenor of five …

By: Mohamed Farouk Mubasher: The stock of Warba Bank registered negative performance during Tuesday’s session, despite the profitable financials disclosed earlier today. By 11 am Kuwait time, the stock edged down 0.4% to reach 252 fils, with a …

Mubasher:  Warba Bank, listed on Boursa Kuwait, reported a 17.5% year-on-year increase in its profit for the second quarter of 2019. Profits amounted to KWD 2.68 million ($8.83 million) in Q2-19, compared to KWD 2.28 million ($7.51 million) in …

Mubasher: Kuwait-based Warba Bank has obtained the Central Bank of Kuwait’s (CBK) preliminary approval to issue sukuk at a value not exceeding $500 million under $2 billion sukuk programme. The bank will obtain the CBK’s final approval after …

Mubasher: Kuwait-based Warba Bank reported a 31% year-on-year profit rise in the first quarter of 2019. Profits increased to KWD 3.82 million ($12.59 million) during Q1-19 from KWD 2.92 million ($9.63 million) in Q1-18, according to a statement to …

Mubasher: Warba Bank on Wednesday announced that the Central Bank of Kuwait (CBK) has rejected its request to acquire Kuwait and Middle East Financial Investment (KMEFIC). The CBK’s rejection will not affect the bank’s fiscal position, Warba said …

Mubasher: Warba Bank on Monday announced that Moody's Investors Service has affirmed the lender’s long-term deposit ratings at (Baa2), with a “Stable” outlook. The bank’s main credit rating was confirmed at (ba3), while its Counterparty Risk …