Kuwait – Mubasher: The National Bank of Kuwait (NBK) has signed a $280 million (KWD 84.56 million) financing agreement with The Kuwait Styrene Company, according to the bank’s statement to Kuwait Stock Exchange (KSE).
This agreement will enhance the NBK’s role in pushing the developmental progress of the Kuwaiti economy, which improves the bank’s reputation; it will also grow the bank’s loan portfolio and increase its profitability, the bank said on Tuesday.
NBK’s profits in Q1-16 reached KWD 78.94 million ($261.36 million), down from KWD 96.52 million ($319.57 million) in the same period last year.
NBK’s share was stable at the beginning of Tuesday's session, at 570 fils per share.
