Commercial Bank of Kuwait, the country's fifth-largest lender by assets, has received regulatory approval to issue up to 120 million dinars ($425.8 million) of bonds, as it prepares to convert into an Islamic bank.
In April, C
Commercial Bank of Kuwait, the country's fifth largest lender by assets, said a majority of shareholders had approved a plan to convert the bank into a full-fledged Islamic lender, state news agency KUNA reported.
Commercial Bank of Kuwait, the Gulf state's fifth largest lender by assets, reported a steep rise in first-quarter net profit on Tuesday, as the amount of non-performing loans fell but said it still had to book hefty impairment charges.
Commercial Bank of Kuwait, said on Sunday it plans to liquidate its investment unit, according to a bourse filing.
The bank has received necessary approval to hold an extraordinary general meeting and discuss the liquidation of Co
National Bank of Kuwait moved a step closer to a takeover of Kuwait's Boubyan Bank on Wednesday, but a disputed stake held by another bank remains an obstacle to the $2.1 billion deal.
The Boubyan Bank board gave its backing to its main sh
Commercial Bank of Kuwait (CBK), the country's fourth-largest lender, reported a 75-percent drop in first-quarter net profit on Thursday.
Net profit was 329,000 Kuwaiti dinars ($1.19 million) in the first three months of the year, c
Commercial Bank of Kuwait (CBK), the Gulf state's fourth largest lender, has named Ali Al-Moussa as its new chairman, the company said in a statement posted on the bourse website on Monday.
In February CBK reported a sharp drop in full-yea
Commercial Bank of Kuwait (CBK) made a net profit of KD810,000 ($2.92 million) in 2011, down from KD40.5 million in the prior year period, according to a company statement.
The board recommended that no dividend be paid out for 2011, said
Commercial Bank of Kuwait (CBK) said that a regulatory court had dismissed a case brought by Investment Dar over a disputed stake in Boubyan Bank.
CBK and Dar are in litigation over the Boubyan stake which Dar sold to CBK in 2008 to
Commercial Bank of Kuwait (CBK) reported a 91 per cent drop in the second-quarter net profit on Wednesday.
Net profit in the three months to June 30 was KD198,000 ($724,478), compared to KD2.3 million in the same period last year, the lend