BANKING

July 18, 2019

KUWAIT: Deutsche Bank has awarded Gulf Bank with the annual Operational Excellence Award in recognition of nine years of exceptional performance. For the past nine years, Gulf Bank’s Straight-Through Processing (STP) ranges has been in the 99 percent percentile, with the Bank consistently achieving rates of over 99.7 percent year after year.
This achievement demonstrates how Gulf Bank is greatly"... Continue Reading

July 18, 2019

Bank of America reported its second-quarter 2019 financial results today. The news release, supplemental filing and investor presentation can be accessed in the following ways:

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20190717005354/en/

July 17, 2019

KUWAIT: Ahli United Bank K.S.C.P announced a net profit for the first half of 2019 amounting to KD 30.8 million, compared to KD 29 million for the same period in the previous year, with a growth of 6.2 percent.
The bank’s profit from operations amounted to KD 32.2 million, having grown by 6.3 percent over the profit from operations of KD 30.3 million in the same period in the previous year. Total"... Continue Reading

July 11, 2019

KUWAIT: Gulf Bank K.S.C.P. announced its financial results for the first half of 2019. The Bank recorded a net profit of KD 24 million for the first half of 2019. These first half results consisted of KD 12.2 million net profit recorded in the second quarter of 2019 plus KD 11.8 million recorded in the first quarter of 2019.

... Continue Reading

July 10, 2019

KUWAIT: Boubyan Bank has announced a net profit of KD 29 million for the first half of 2019, at a growth rate of 12 percent compared with the same period of the previous year, with an earnings per share of 9.55 fils compared with 8.72 fils for the comparative period of the previous year.

Adel Abdul Wahab Al-Majed, the Bank’s"... Continue Reading

July 10, 2019

KUWAIT: The National Bank of Kuwait (“NBK”, the “Bank” or the “Group”) has announced its financial results for the 6-month period ended 30 June 2019. NBK reported a net profit of KD 209.1 million ($689.7 million), increasing by 12.5 percent compared to 30 June 2018, with total assets increasing by 3.4 percent to reach KD 27.9 billion ($91.9 billion).

"... Continue Reading

July 8, 2019

Kuwait City, 7 July 2019 Watani Investment Co. K.S.C.C. (“NBK Capital”) acted as Joint Lead Manager for the issuance of Burgan Bank K.P.S.C’s (“Burgan” or the “Bank”) US$ 500 million Regulation S Perpetual Tier 1 Capital Securities (the “Capital Securities”). The reoffer yield of the Capital Securities is set at 5.75% and have a first call date set in"... Continue Reading

July 7, 2019

KUWAIT: Watani Investment Co. K.S.C.C. (“NBK Capital”) acted as Joint Lead Manager for the issuance of Burgan Bank K.P.S.C’s (“Burgan” or the “Bank”) $500 million Regulation S Perpetual Tier 1 Capital Securities (the “Capital Securities”). The Capital Securities will offer semi-annual coupon payments set at 5.75 percent per annum and have a first call"... Continue Reading

July 3, 2019

Kuwait'sBurgan Bank is set to raise $500 million in capital-boosting bonds offering investors a 5.75% yield, a document by one of the banks leading the deal showed on Tuesday.

Burgan Bank, Kuwait's second largest conventional bank by assets, has hired HSBC and JPMorgan to coordinate the deal, and Bank ABC, Citi, Emirates"... Continue Reading

July 3, 2019

Michel Accad, Group Chief Executive Officer of Al-Ahli Bank of Kuwait, received an award for his ‘Outstanding Contribution to the Financial Services Industry in the Middle East’ at the Euromoney Awards for Excellence 2019, held at the Grosvenor House Hotel in Dubai on the 26th June 2019.

Michel Accad joined ABK"... Continue Reading