Bloomberg News

National Bank of Kuwait May Raise Boubyan Bank Stake, Qabas Says

April 11, 2012

National Bank of Kuwait SAK may offer as much as 125 million dinars ($449 million) to buy an additional 12.7 percent stake in Boubyan Bank KSC (BOUBYAN), Al-Qabas reported, citing people it didn’t identify.

National Bank of Kuwait (NBK), the country’s biggest lender, got the central bank approval to raise its stake in Boubyan Bank from 47.29 percent to 60 percent, state-run news agency KUNA reported yesterday. The approval is valid for three months from April 8, the news service said.

To contact the reporter on this story: Dahlia Kholaif in Kuwait at dkholaif@bloomberg.net.

To contact the editor responsible for this story: Shaji Mathew at shajimathew@bloomberg.net


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