Kuwait’s Warba Bank finishes issuing and paying $250 million Tier 1 Sukuk

Kuwait’s Warba Bank finishes issuing and paying $250 million Tier 1 Sukuk

Kuwait’s Warba Bank said on Wednesday that it has finished issuing and completing the process for its extra Tier 1 capital sukuk worth $250 million.

Listing

Warba Bank said the Tier1 sukuk will be listed on the London Stock Exchange and Nasdaq Dubai. This is expected to help the bank’s finances and meet regulatory rules, according to a statement on Boursa Kuwait.

In April, Warba Bank got final approval from the Central Bank of Kuwait to issue the sukuk.

In June, the Capital Markets Authority approved a private placement plan for Warba Bank’s sukuk, worth up to $750 million. This is part of a bigger sukuk program that can reach up to $2 billion.

Also in April, the bank said it fully bought Alghanim Commercial Company, which owns 32.75% of Kuwait’s Gulf Bank. The deal was for about $1.62 billion (KWD 498.16 million), according to Reuters.

Quarterly Performance

Warba Bank made a profit of $18 million (KWD 5.51 million) in the first quarter of 2025. This is a 16.4% increase. The profit grew because net investment income rose by 84.6% and net fees and commissions went up by 60.2%.

As of April 2025, Warba Bank managed total assets of about $1.7 billion.

Warba Bank was started in 2010 and joined the Kuwait Stock Exchange in 2013. It has an authorized capital of $1.4 billion (KWD 449.8 million).

Published: 23th May 2025

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