Mubasher TV
Contact Us Advertising   العربية

Alghanim gets Kuwait C. bank nod to raise stake in GBK

Alghanim gets Kuwait C. bank nod to raise stake in GBK
The Central Bank of Kuwait approved a request for Alghanim Trading Group to raise its stake in the Gulf Bank of Kuwait.
GBK
GBK`R
0.86% 350.00 3.00

Mubasher: The Gulf Bank of Kuwait (GBK) announced that the Central Bank of Kuwait (CBK) has approved a request for Alghanim Trading Group to raise its stake in the bank.

The CBK approved increasing Alghanim’s stake in the Kuwaiti lender to 33% from 7.42%, GBK said in a statement to Boursa Kuwait on Wednesday.

At the moment, the Kuwait Investment Authority (KIA) is the largest shareholder in GBK with 20.2%, followed by Omar Kutayba Alghanim and its Alghanim Trading Group, then Alghanim Industries with 6.71%, while Behbehani Investment and Bassam Yusuf Alghanim own 5.8% and 5.7% stakes, respectively.  

GBK’s capital amounts to about KWD 304.81 million, distributed over 3.05 billion shares, with a nominal value of 100 fils per share.

During the first nine months of 2018, GBK’s profits rose 18.1% to KWD 42.68 million from KWD 36.15 million in the corresponding period a year ago.