Wednesday 22, July 2009 by

NBK increases its stake in Boubyan Bank

National Bank of Kuwait (NBK) said it has successfully acquired 13.2 per cent of the Kuwait Investment Authority’s (KIA) holding in Boubyan Bank via auction, raising NBK’s total ownership of Boubyan Bank to 27.5 per cent.  The deal amounted to KWD 84.7 million ($295.2 million) representing around 321 million shares of Boubyan Bank.