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stc agrees KWD 40m agreement with NBK

stc agrees KWD 40m agreement with NBK
The National Bank of Kuwait (NBK)
STC
STC
-1.39% 782.00 -11.00
NBK
NBK
-0.10% 1,024.00 -1.00
STC
7010
-1.58% 87.40 -1.40

Riyadh – Mubasher: Kuwait Telecommunications Company (stc), a subsidiary of Saudi Telecom Company (stc), has signed a long-term finance agreement with the National Bank of Kuwait (NBK).

The KWD 40 million finance deal extends to ten years, with the aim to fund stc’s expansion and operational plans, according to a company statement.

Commenting on the agreement, Maziad Nasser Al Harbi, CEO of stc Kuwait, said that the deal crowns the cooperation and mutual trust between stc and NBK, especially as the telecom company recently launched its new brand identity.

Meanwhile, NBK’s board member Yacoub Al Fulaij noted that NBK is the first choice for financing deals and megaprojects for private sector companies in Kuwait with its long history and leadership in the banking sector.