Mubasher: The financing portfolio of Warba Bank increased by 53%to register KWD 1.263 billion in fiscal year 2017 compared to KWD 828 million in the previous fiscal year, the deputy chairman of the bank, Bassel Al Haroun, said.
Al Haroun clarified that the Kuwait-based bank seeks taking good advantage of such increase in portfolio, in line with keeping the balance between liquidity and profitability, and the risk indicator, according to a recent statement.
The sharia-compliant lender registered a growth of 35% in the clients’ deposits to KWD 1.009 billion in FY17 compared to KWD 750 million in FY16.
The bank succeeded in promoting for tier 1 sukuk issuance valued at $250 million, which was oversubscribed by five times; this led to a listing on the Dubai Financial Market (DFM) and the Irish Stock Exchange (ISE).
