Warba Bank Completes Acquisition of Alghanim Trading

Warba Bank has finalized its acquisition of Alghanim Trading Company W.L.L. for KD 498.2 million, a strategic move that aligns with its expansion goals and diversifies its investment portfolio. The acquisition means Warba Bank now indirectly owns 32.75% of Gulf Bank's capital, effectively enhancing its footprint in the Islamic banking sector in Kuwait and the region. The transaction not only augments Warba Bank's asset size and value but also embodies its commitment to sustainable growth that benefits shareholders and customers. The completion of the deal occurs as Warba Bank initiates a capital increase to bolster its regulatory capital base, supporting further expansion and investment in digital banking services. This acquisition and subsequent capital increase present an unprecedented chance for stakeholders to invest in a dynamic Islamic banking leader in Kuwait. Warba Bank aims to capitalize on this growth phase to achieve financial sustainability and contribute to the national economy in alignment with Kuwait Vision 2035.