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 (IPO), according to a bourse statement on Thursday.

The Kuwaiti sharia-compliant lender clarified that the issue premium will be 80 fils per share to be added to the par value, 100 fils per share.

Currently, Warba Bank has a capital of KWD 100 million distributed on a billion shares.