Kuwait International Bank (KIB) announced the completion of the sale of the indebtedness of NMC Healthcare, as disclosed on May 31, 2021 The relevant procedures have been completed in this regard.
The bank said in a statement to the Kuwait Stock Exchange, today, Sunday, that this deal, amounting to 3.98 million dinars, will strengthen the financial position of KIB, taking into account that it is not necessary To be an indication of the bank's results for the third quarter of 2021, as they are subject to review by external auditors and approval of the competent authorities.
The bank had announced at the end of last May that it had agreed to sell its debts arising from its financing of the aforementioned company, which amounted to approximately $74.11 million, equivalent to 22.74 million dinars, for an amount of The amount is 13.25 million dollars, equivalent to about 3.98 million dinars.
The bank stated at the time that this indebtedness had been fully allocated in the previous fiscal year, and this transaction is conditional on fulfilling the due diligence requirements, and disclosure will be made later in the event of completion The sale process and the completion of all related formalities.
KIP's profit jumped by a whopping 2047% in the first half of this year; To reach about 2.217 million dinars, compared to profits for the same period in 2020, amounting to 103.25 thousand dinars.
