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You are here: Home»Business»Banking & Finance»Kuwait's NBK offers $2.1bn for full control of Boubyan

kuwait DUBAI: National Bank of Kuwait (NBK) is offering 581 million dinars ($2.07 billion) for the remaining stake in Boubyan Bank that it does not already own, the country's largest lender said on Thursday.

NBK, which currently owns 47.29 percent stake in the Islamic lender, will offer 630 fils per share for the stake, said in a bourse statement. Boubyan shares closed at 600 fils on the Kuwait stock exchange on Wednesday.

NBK has been building its Islamic banking business. In April 2011, it boosted its position in sharia-compliant Boubyan which competes with Kuwait Finance House and Kuwait International Bank.

Copyright Reuters, 2012


 



 
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ICT 2014


Annual2013/14
Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
MonthlyJanuary
Trade Balance $-999 mln
Exports $2.064 bln
Imports $3.063 bln
WeeklyMarch 13, 2015
Reserves $16.273 bln