Kuwait’s Ministry of Commerce and Finance has approved a 60 million dinar ($203 million) medium-term bearer bond issue for the Commercial Bank of Kuwait (CBK) to finance its operations. Issue by the National Bank of Kuwait and the Securities Group Company, the bond matures in 2007.
CBK was established in 1961 and is the third largest commercial bank in Kuwait by asset size and capitalization. The bank operates the second largest retail network in Kuwait with 36 branches, giving it a strong position in the domestic retail market. — (menareport.com)
© 2004 Mena Report (www.menareport.com)
