Mubasher: The annual general meeting (AGM) and extraordinary general meeting (EGM) of the National Bank of Kuwait (NBK) were held on Saturday.

With the attendance of 77.86% of the bank’s shareholders, the meeting approved the Board of Directors’ recommendation to distribute 35% cash dividends and bonus shares to shareholders.

The approved dividends will be distributed at 35 fils per share, as well as a 5% bonus shares distrbitoon, at five shares for every 100 shares owned, according to a bank statement.

“NBK’s performance in 2019 highlighted the strength of our business model and strategic focus driven from our diversification strategies as clearly reflected in the strong growth of our balance sheet. Total assets grew by 6.7% year-on-year (YoY), reaching KWD 29.3 billion and equity attributable to shareholders stood at KWD 3.21 billion. Meanwhile, customer loans and advances increased to KWD 15.9 billion, up by 10.7%,” the bank’s CEO, Isam Al Sager, said.