The National Bank of Kuwait announced that it has obtained approval from the Central Bank of Kuwait to buy back and issue securities.
The bank said in a statement to the Kuwaiti Stock Exchange, today, Sunday, that the Central Bank had approved the bank's offer to buy back the securities totaling 125 million dinars and included in the second tranche of the head The money, previously issued, was on November 18, 2015.
The Central Bank was informed of the Kuwaiti National issuance of securities compatible with the requirements of the second tranche of the bank's capital, with a value not exceeding 150 million dinars. The Capital Markets Authority also approved the bank's issuance.
Al-Watani clarified in the statement that the Central Bank's approval for the buyback and issuance of securities has no material impact on the bank's financial position at the present time.
NBK's profits showed an exceptional decline of 47% in the first half of this year, to reach 111.09 million dinars, as a result of the change in the operational environment and the precautionary and regulatory measures to face the repercussions Coronavirus pandemic.
