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The divesture of the IBK stake is in line with KIB's focus on Sharia compliant investments moving forward.
Hamed Al Rasheed, Managing Director at KIB added:
"This exit is a significant step in KIB's progression towards being a full fledged Sharia compliant bank and demonstrates the bank's intent in fulfilling the requirements needed for a complete conversion. NBK Capital's reputation for being able to deliver its services at the highest quality was an important factor in the choice of advisor and the success of the deal."
Salah Al-Fulaij, CEO of NBK Capital said "Our sell side capability and deep knowledge of the local market led to a successful transaction. Yet again, our team has demonstrated an ability to deliver the highest quality professional advice to help our clients execute their strategic goals.
The sale of KIB's stake in Industrial Bank of Kuwait represents yet another successful transaction executed by NBK Capital's investment banking team. NBK Capital continues to build its reputation to deliver complex and challenging deals for clients while maintaining the highest quality service across the region.
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Posted by Eman Hassan
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