Mubasher: The Central Bank of Kuwait (CBK) has rejected the request of the Commercial Bank of Kuwait (CBK) regarding the distribution of treasury stocks to shareholders.

The commercial bank had sought the central bank's consent upon shareholders’ request, according to a bourse statement on Wednesday.

During the general assembly held on 8 April, several shareholders demanded the commercial bank to distribute treasury stocks without a consequent increase in capital or the number of issued shares.  

The said treasury stocks amount to around 68.6 million shares and are valued at KWD 6.86 million or 100 fils per share.

Last year, the commercial bank did not register any profits when compared to profits of KWD 63.8 million in 2018.