Mubasher: The National Bank of Kuwait (NBK) said that the Central Bank of Kuwait (CBK) approved on Monday the increase of the bank’s authorised capital.
Following this approval, the bank’s capital will stand at KWD 750 million, according to a bourse filing on Tuesday.
The financial impact of this capital increase will be a possibility of raising the issued and paid-up capital within the average of the authorised capital.
This capital hike will boost the NBK’s capital adequacy ratio (CAR) as well as maintaining the current credit rating.
The current issued and paid-up capital stands at KWD 591.75 million distributed on 5.92 billion shares, while the authorised capital totals KWD 600 million.
At the stock level, the NBK closed Tuesday 0.54% lower at 732 fils after 4.45 million shares were traded at a total value of KWD 3.24 million.
