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- Oman's Islamic finance industry set to reach $45bn this year, says Fitch
- MSX index records seventh straight monthly gain, up 7.9% in January
- Gulf Bank reports net profit of KD 52.4 million for full year 2025
- Gulf Bank participates in Al-Bayan Bilingual School carnival to support financial literacy
- OPEC+ agrees to keep oil output unchanged
- QNB: Macro environment still positive for emerging market in 2026
- QFC introduces 'targeted incentives' as it returns to Web Summit 2026
- UAE's non-oil foreign trade exceeds Dh3.8 trillion for first time in history
- Gold, silver panic sell-off in UAE driven by profit-booking, say jewellers
- GWC inks strategic collaboration with EU cloud platform Apify
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
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
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
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
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02/02/2026
Saleh Abdulaziz Al Rashed & Sons Company, a leading provider of construction materials, mining and industrial spare-parts solutions based in Saudi Arabia, said on Sunday it set a price range of SAR45
Trade Arabia
02/02/2026
Gulf Bank KSCP ("Bank") announced its financial results for the full year ending December 31, 2025. The Bank reported a net profit of KD 52.4 million for the full year 2025, with an earning per share
Kuwait Times
02/02/2026
As part of its ongoing commitment to community engagement, youth empowerment, and financial literacy, Gulf Bank participated in the Al-Bayan Bilingual School Carnival, reaffirming its strategic focus
Kuwait Times
02/02/2026
Qatar National Bank (QNB) said the global macroeconomic framework for 2026 remains supportive of emerging market (EM) assets, despite ongoing volatility. The bank emphasized the growing importance of
QNA
02/02/2026
Gulf Warehousing Company (GWC), one of the region's leading logistics providers, has sealed a strategic collaboration with Apify, a European cloud platform specializing in web data extraction, automa
Trade Arabia
Financial Information Co.
Saudi Arabia