The National Bank of Kuwait increases its stake in the Credit Bank of Iraq, 4 JAN

The National Bank of Kuwait increases its stake in the Credit Bank of Iraq

The National Bank of Kuwait decided to increase its share in the capital of the Iraqi Credit Bank, by adding 50 billion dinars.

The Central Bank of Iraq agreed for the National Bank of Kuwait to pay an amount of 50 billion dinars as a first payment in order to bring the bank’s capital to 400 billion dinars.

According to a statement issued by the Credit Bank of Iraq, the National Bank of Kuwait paid an amount of 50 billion dinars on December 27, 2023, as a first payment under the capital increase account, on its own behalf and on behalf of all shareholders.

This increase comes within the framework of the National Bank of Kuwait’s efforts to strengthen its position in the Iraqi market and support the growth process of the Credit Bank of Iraq.

It is noteworthy that the National Bank of Kuwait owns 91% of the Iraqi Credit Bank.

nrttv.com