Increase in ‘foreign’ ownership in banks – ARAB TIMES – KUWAIT NEWS – Arab Times Kuwait News
- Date: 10-Dec-2022
- Source: Arab Times Kuwait
- Sector:Financial Services
- Country:Kuwait
Increase in ‘foreign’ ownership in banks – ARAB TIMES – KUWAIT NEWS – Arab Times Kuwait News
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KUWAIT CITY, Dec 10: In light of the great confidence enjoyed by the shares of Kuwaiti banks in the positive financial results achieved at the end of the first nine months of this year by about KD 800 million with a growth exceeding 35 percent, foreigners continued to strengthen their ownership in local banks during the week by buying in seven banks, namely KFH, Gulf Bank, Al-Ahli Bank, Al-Ahli United Bank, KIB, Burgan Bank, and Boubyan Bank. However, it shrunk in Warba Bank, and remained stable in both the National Bank and the Commercial Bank, reports Al-Anba daily.
According to statistics on foreign ownership percentages in Kuwaiti banks issued on December 7, the value of foreign ownership in Kuwaiti banks approached the level of KD 4 billion, despite the decline in the prices of some banks in the stock market as a result of the continuous selling operations since the beginning of this December, within the framework of logical corrections taking place in the Kuwait Stock Exchange, which occurred after remarkable increases during October and November in general.
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