Kuwait's Warba Bank syndicating $250 mln Islamic loan

10/10/2017 14:57 AST

Warba Bank, a Kuwaiti sharia-compliant lender, is syndicating a $250 million debt facility, its first in the syndicated loan market, sources familiar with the matter said on Tuesday.

The financing is Warba's latest fund-raising exercise after its issue in March of $250 million of Tier 1 sukuk, as the lender seeks to boost its capital ratios and improve liquidity buffers.

An executive at the bank was not immediately available for comment.

Moody's on Tuesday affirmed Warba Bank's Baa2 rating and maintained its outlook as stable, citing the "very high probability of government support in case of need". The government of Kuwait has 31 percent direct and indirect ownership in the bank, Moody's said.

Warba has participated as a lender in a number of U.S. dollar-denominated, sharia-compliant transactions in the region this year. These included a $25 million contribution as part of a $236 million Islamic loan to Turkey's Ziraat Participation Bank, $50 million to a $400 million sukuk issue for Dubai's Meraas Holding, and $80 million as part of a $300 million Islamic loan for Kuwait's Aviation Lease and Finance Co.

Warba Bank's profits improved in the first half of 2017, with profit attributable to shareholders up to 2.5 million dinars ($8.3 million) from 455,000 dinars a year earlier, as operating revenues climbed to 16.8 million dinars from 10.1 million dinars.


Reuters

News

Kuwait's Merged Warba-Gulf Bank Can Grow for 10 years without Capital Hike

22/08/2025

The new Islamic banking entity resulting from the merger of Kuwait's Warba Bank and Gulf Bank will be able to grow for about ten years without raising capital, Warba's chief executive said.

Asharq Al Awsat

Kuwaiti lenders Warba, Gulf Bank explore merger to boost competitiveness

27/05/2025

Kuwait's Warba Bank and Gulf Bank have entered discussions to explore a potential merger as part of a strategy to enhance long-term growth and competitiveness in the local Islamic banking sector.

Arab News

Fitch Affirms Warba Bank at 'A+'; Upgrades VR to 'bb-'

17/10/2017

Fitch Ratings has affirmed Warba Bank's (WB) Long-Term Issuer Default Rating (IDR) at 'A+'; the Outlook is Stable. Fitch has also upgraded the bank's Viability Rating (VR) to 'bb-' from 'b+'.

Press Release

Most Viewed Companies

Ticker Price Volume

Valuation

WARBABANK Sector Market
P/E
Price/BookValue

Top Related Companies

Ticker Price Change
KFH 802.00 5.00 (0.62%)
NBK 1,022.00 12.00 (1.18%)
BOUBYAN 707.00 1.00 (0.14%)
GBK 365.00 -1.00 (-0.28%)
CBK 519.00 -37.00 (-6.66%)

Recent News

Oman Oil Marketing Company reports minor damage following storage tank attack

05/03/2026

The Oman Oil Marketing Company (OOMCO) has formally announced that one of its fuel storage tanks on March 3 the subject of an incident. In a statement released on March 4, the company confirmed that

Muscat Daily

UAE telecom firm du says its network is operating normally

05/03/2026

Emirates Integrated Telecommunications Company (du) on Wednesday assured its operational readiness and confirmed its infrastructure and core systems were operating normally.

Providing a busi

Khaleej Times

UDC approves 5.5% cash dividend distribution equivalent to QAR 194.7 million

05/03/2026

The annual ordinary general assembly meeting of the United Development Company (UDC), a leading Qatari public shareholding company and the master developer of The Pearl and Gewan Islands, approved th

Gulf Times

Alba boosts Bahraini leadership pipeline through key appointments

05/03/2026

Aluminium Bahrain (Alba), the world's largest aluminium smelter on one site, has announced a set of leadership appointments that underscore its long-term commitment to succession planning, leadership

Trade Arabia

AD Ports Group confirms normal operations amid regional conflict

05/03/2026

The AD Ports Group on Wednesday, March 4, confirmed that all its operations continue normally in light of current regional developments.

As a precautionary measure, the group has activated i

Khaleej Times

logo

Financial Information Co.

Saudi Arabia

GCC Markets

Mutual Funds

News

Investment Tools

Sector News

Screeners

Indices & Commodities

Downloads

Copyright ©2001 - 2025, Financial Information Co. All Rights Reserved.

Terms of Services | Privacy Policy | Advertise with us | Contact Us | Sitemap