The National Bank of Kuwait announced that it had decided - after fulfilling all relevant controls and procedures and obtaining the required approvals from the concerned authorities - to issue unsecured bonds with priority for payment.< /p>
In a statement to the Kuwait Stock Exchange, today, Tuesday, NBK said that the above-mentioned bonds are denominated in dollars, and come as part of the bank's program to issue international medium-term securities (bonds) .
The bank stated that the proceeds of the issuance would contribute to enhancing the bank's liquidity position in foreign currencies, improving the relevant supervisory ratios, and diversifying the funding sources.
He indicated that these bonds will be issued indirectly through a special purpose company (NBK SPC Limited) established in the Dubai International Financial Centre, noting that the timing of the issuance It will depend on global market conditions.
The bank's profits rose in the first half of this year by 44.7% to reach 160.8 million dinars, while the bank achieved a jump in profits for the second quarter of the year by 128.8% to 76.5 million dinars.
