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Islamic Finance Briefing - Categorized | Banking, Investment, Market Moves more

NBK to buy commercial Bank’s stake in Boubyan Bank

Posted on 15 June 2009

From Bloomberg: National Bank of Kuwait SAK, the emirate’s biggest lender, agreed to buy Commercial Bank of Kuwait’s stake in Islamic lender Boubyan Bank KSC for about 121 million dinars ($422 million).

Commercial Bank, the country’s second-biggest publicly traded lender, will sell 220,631,095 shares of Boubyan at 550 fils each, National Bank and Commercial Bank said in a joint statement today. The purchase will give National Bank about 19 percent of Boubyan………Full Article: Source

 
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