Kuwait-Mubasher: National Bank of Kuwait’s (NBK) Basel III-compliant capital adequacy ratio (CAR) reached 16.4% by the end of March 2016, exceeding the minimum level, said CEO Isam Al Sager.
The KSE-listed bank was granted the ordinary general meeting’s approval to increase the authorized capital to KWD 600 million ($1.98 billion), subject to regulatory authorities.
NBK’s board has recently approved raising the capital by 6.5% after issuing 344 million shares with a value worth 400 fils per share; 100 fils as nominal value and 300 fils as premium issuance.
