Kuwait-Mubasher: Gulf Bank of Kuwait (GBK) said that Kuwait’s central bank is informed with the prospective issuance of capital-compliant Tier 2 instrument under Basel III rules.
GBK will issue bonds with a value up to KWD 100 million ($332 million) for further improvement of its capital adequacy ratio (CAR).
The Kuwaiti bank is currently waiting for the approval of Kuwait’s Capital Markets Authority (CMA) to make the issuance.
GBK stock has not witnessed any trades until an hour before the end of Tuesday’s trading session. The stock dropped 0.93% to settle at 216 fils by the end of Monday’s session.
