Warba Bank Obtains CBK's Initial Approval For 100 Pct Capital Increase

2025-01-12 02:03:41

(MENAFN- Kuwait News Agency (KUNA)) KUWAIT, Jan 12 (KUNA) -- Warba Bank said on Sunday it has obtained the initial approval of the Central Bank of Kuwait (CBK) to increase its capital by 100 percent.
In a disclosure on Boursa Kuwait's website, the bank said its Board of Directors would recommend that the General Assembly empower the Board to determine the issuance premium for the new shares, in addition to the nominal value set by law, as decided by the Board.
It added that it would announce all the details, conditions, and procedures related to the issuance process after obtaining all necessary approvals from the Capital Markets Authority and the extraordinary general assembly of the bank.
Warba Bank was established in 2010 and listed on Boursa Kuwait in 2013 with an authorized capital of KD 218.3 million (around USD 672.3 million). It carries out all banking services for its own account as well as for third parties in accordance with the principles of Islamic Sharia. (end)
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