Warba Bank KSCP (WARBABANK`R)

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News

27 May 2020 03:56 PM Warba Bank receives regulatory approval for KWD 150m Sukuk

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 …

Sukuk and Islamic Finance

17 May 2020 00:36 PM Warba Bank's outlook changed to 'Stable' from 'Positive' - Moody's

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’ …

Banking and Finance

20 April 2020 03:30 PM Warba Bank approves 5% bonus shares for 2019

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 …

General Assembly

7 April 2020 02:09 PM Warba Bank may see minor impact from NMC exposure

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 …

Banking and Finance

6 April 2020 11:06 AM Warba Bank’s exposure to NMC Healthcare tops $67m

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 …

Companies Investments

19 February 2020 11:20 PM Warba Bank registers 30% YoY higher profit in 2019

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, …

Banking and Finance

23 January 2020 01:00 PM Ream Real Estate to reschedule KWD 6m debt with Warba Bank

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 …

Real estate

19 December 2019 01:02 PM Ream Real Estate in talks with Warba Bank over debt settlement

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 …

Company News

12 December 2019 04:34 PM Fitch confirms Warba Bank’s credit ratings, stable outlook

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 …

Ratings

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 …

Banking and Finance

29 October 2019 09:58 AM Warba Bank achieves 49% higher profit in 9M

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 …

Company News

9 October 2019 01:27 PM Kuwait’s Warba Bank lists $500m Sukuk on Nasdaq Dubai

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 …

Sukuk and Islamic Finance

2 October 2019 03:47 PM Fitch Affirms Warba Bank’s IDR at 'A+'; Outlook stable

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 …

Ratings

24 September 2019 02:28 PM NBK Capital manages Warba Bank’s $500m sukuk issue

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 …

Banking and Finance

22 September 2019 00:34 PM Moody’s affirms Warba Bank’s Outlook at ‘Stable’

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 …

Ratings

18 September 2019 05:15 PM Warba Bank issues $500m sukuk; oversubscribed 6.3 times

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 …

Companies Investments

11 September 2019 10:33 AM CMA nods to Warba Bank’s $500m sukuk prospectus

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 …

Sukuk and Islamic Finance

1 September 2019 05:33 PM Warba Bank gets CMA’s nod to issue $500m sukuk

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 …

Banking and Finance

30 July 2019 09:29 AM Kuwait’s Warba Bank among ESIC’s $600m sukuk issue arrangers

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 …

Corporate Actions

23 July 2019 11:31 AM Warba Bank’s stock falls on Tuesday despite positive Q2 financials

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 …

Trading Activities

23 July 2019 08:47 AM Warba Bank Q2 profits rise 18%

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 …

Financial Results

17 July 2019 04:21 PM Kuwait C.bank approves Warba Bank’s $500m sukuk issue

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 …

Sukuk and Islamic Finance

15 May 2019 00:31 PM Warba Bank achieves KWD 3.8m profit in Q1

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 …

Banking and Finance

8 May 2019 11:02 AM Kuwait C.bank rejects Warba’s request to acquire KMEFIC

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 …

Mergers and Acquisitions

1 April 2019 01:43 PM Moody's affirms Warba Bank’s deposit ratings at Baa2, outlook stable

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 …

Ratings