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Monday 18 January 2010
Kuwait's NBK plans to raise capital by 10 pct
National Bank of Kuwait (NBK) (NBKK.KW: Quote, Profile, Research), 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.
"NBK's move is intended to support the bank's strategic expansion plans which succeeded lately in acquiring 40 percent of Boubyan Bank," the lender said in statement released on Monday.
The bank said it would hold a rights issue, at a price of 500 fils per share including premium. There are 1,000 fils to the dinar.
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