Mubasher: Boubyan Bank on Thursday announced purchasing a commercial land plot in Sharq, Kuwait, for KWD 29.4 million ($97.5 million).
The new plot will be used to establish the Kuwaiti bank’s new headquarters, a filing to Boursa Kuwait showed.
Boubyan Bank’s current headquarters are located in Al Qiblah region in the Kuwaiti capital next to the Kharafi tower.
The Kuwait-based bank recently reported KWD 34.07 million in profits in the first nine months of 2017, up 15% from KWD 29.63 million in the year-ago period.
Boubyan Bank’s stock closed Thursday down 0.22% to 450 fils after 302,300 shares changed hands at a turnover of KWD 136,040.
