Warba Bank discusses issuing Islamic facilities at $200m

Warba Bank discusses issuing Islamic facilities at $200m
The bank aims at expanding its international investments
WARBABANK WARBABANK 0.00% 214.00 0.00

Mubasher: Warba Bank is holding talks with other banks to enter the loans market through issuing a 3-year Islamic facility worth $200 million.

The bank aims at expanding its international investments after the positive results in the first half of 2017, the bank’s chairman, Abdul Wahab Al Houti, had said in July.

Earlier, the bank had announced a 453.9% profit growth to KWD 2.52 million in H1-17 versus KWD 455,000 in the year-ago period.

By 11:17 am Kuwait time on Thursday, the bank’s stock stabilised at 265 fils, after trading 130,200 shares for KWD 34,500.

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Source: Mubasher

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