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Islamic Finance Briefing - Categorized | Banking, Capital Market (Equity, Mutual Funds) more

Kuwait’s NBK plans capital hike to fund expansion

Posted on 19 January 2010

From Finanznachrichten.de: National Bank of Kuwait (NBK) , the country’s biggest lender, said it planned to raise its capital by 10 percent through a rights issue by the end of the year to fund expansion.

The OPEC member’s oldest bank, which has 69 branches in Kuwait, said in 2009 it would scale back its foreign expansion. Instead, it focused on boosting its sharia-compliant business by raising its stake in Kuwaiti Islamic lender Boubyan Bank………………………………..Full Article: Source

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