The roll out is part of the adoption of smart branches for Commercial Bank of Kuwait
, which will utilize a more flexible and cost-effective virtual banking system.
6 February 2012 - Commercial Bank of Kuwait
suffered a sharp fall in net profit for 2011, the lender said in a statement on Sunday.
Kuwaiti banks' income growth was affected by the low profitability of Commercial Bank of Kuwait
which showed a considerable decline of 93 per cent over the previous quarter as a result of high provisioning.
Commercial Bank of Kuwait
announced an operating profit before provisions for the period of KD42.046m (2009: KD66.911m).
Kuwait, 30 August: The Commercial Bank of Kuwait
has decided to use surplus funds as a result of a sale of Boubyan Bank shares it owns, to purchase debts owed to it of smaller investors in Islamic finance specialist firm Dar Al Istithmar.
Kuwaiti commercial banks involved, apart from NBK, were Gulf Bank, Commercial Bank of Kuwait
, Al Ahli Bank, Burgan Bank and Bank of Kuwait and the Middle East.
* Represented the tenant, Commercial Bank of Kuwait
, in the lease of 15,000sf of office space at 1180 Avenue of the Americas, New York, NY.
The list of financiers include the National Bank of Kuwait (NBK), Kuwait Finance House (KFH), the Commercial Bank of Kuwait
, Ahli United Bank (Kuwait), Credit Agricole Corporate and Investment Bank, KfW IPEX-Bank, Societe Generale, Sumitomo Mitsui Trust Bank, Bank Muscat, Boubyan Bank, Warba Bank, Banco Santander, the Bank of Tokyo-Mitsubishi (MUFG), Bank Dhofar, Qatar National Bank, the National Bank of Oman, Bank Sohar, Ahli Bank (Oman), Standard Chartered PLC, HSBC Holdings, Korea Development Bank, Credit Suisse Bank, Intesa Sanpaolo (Italy) and UPI banka (Bosnia and Herzegovina).
Capital Intelligence Ratings (CI Ratings or CI) today announced that it has raised the Long-Term Foreign Currency Rating (FCR) of Commercial Bank of Kuwait
(ComBK) to 'A+', reflecting the strong support rating, as well as the ongoing improvement in financial metrics and above average ROAA.
The financing facility includes a consortium comprising of Mashreq, Al Ahli Bank of Kuwait (ABK), and Commercial Bank of Kuwait
The company, which has interests in a number of industrial sectors including building materials and petrochemicals, added it had separately renewed a facility worth $82.6m (KWD25m) with Commercial Bank of Kuwait
for an additional two years.
Commercial Bank of Kuwait
(CBK) (KSE: CBK) has cut its stake in Boubyan Bank (KSE: BOUK) to 17.7 percent from the 19.9 percent stake that it reportedly held in September, Reuters has reported, citing data from the Kuwait Stock Exchange.