Warba Bank

Shaheen H Al-Ghanem CEO of Warba Bank a leading Kuwaiti Islamic Bank Tuesday rang the market-opening bell to celebrate the listing of the Bank s 250 million perpetual Tier-1 Sukuk on Nasdaq Dubai. This is the third Sukuk listing by Warba Bank on Nasdaq Dubai following the listing of a 250 million and a 500 million instrument in March 2017 and October 2019 respectively reported Emirates News Agency WAM adding that the latest issuance was priced at 4% and oversubscribed by 4.4 times. This new listing brings the total outstanding value of the Bank s Sukuk on the exchange to 898 million and strengthens Dubai capital markets status amongst the leading Sukuk listing venues globally with a total value of 79.4 billion. Al-Ghanem said: Our latest Sukuk issuance witnessed significant success in attracting regional and international investors and is a clear testament on their confidence in Warba Bank s exp...

Kuwait-based Warba Bank a leading Islamic bank in digital services recently launched Hassala/ Money Box the newest digital service through its app available on smartphones for both Android and IOS systems. Hassala aims to facilitate saving process for customers while guiding them to rely on their own money and savings to achieve their targets instead of borrowing or using their credit cards which might provide a quick payment s solution but in return shoulder them with long-term financial burdens said a statement from Warba. Today customers can save money smoothly and quickly; where they can access Hassala through the app s homepage My Portfolio icon and choose amongst twelve saving goals including: home my kids charity car heath and treatment travel and entertainment shopping education jewellery and gifts; should the saving goal is not included in the list then the customer can select the ...

Kuwait-based Warba Bank has extended a campaign for its cardholder customers until the end of October offering them the chance to gain 5 per cent cash back on their purchases at maximum KD500 ( 1 640) per month. The campaign includes all transactions made via World MasterCard Visa Signature and Visa Platinum card a bank statement said. The maximum cashback is KD500 per month for World MasterCard and Visa Signature cards while the maximum limit for Visa Platinum cards is KD250 per month. Keeping in mind that there is no minimum amount per transaction; every purchase outside Kuwait is calculated whatever its value is - in foreign currency. This campaign does not include cash withdrawals through ATMs. Through its credit cards Warba Bank seeks to improve the lifestyle of its customers especially those related to travel and holidays; whereas the Bank provides a huge range of features and facilities including VIP lounges access at...

Warba Bank has adds another investment to its global real-estate investment portfolio with the acquisition of a property in Euless a suburb of Dallas Texas. Warba Bank s equity investment in Suite 2801 a 417-unit apartment community amounts to 23.46 million a statement said. The acquisition came through a joint venture partnership with Cortland Partners a full-service multifamily real estate acquisition development and operating entity. This transaction follows the bank s successful real estate expansion strategy derived from in-depth research undertaken by the Investment Banking Group. Commenting on the bank s third acquisition in the US since the beginning of this year Thuwaini Khaled Al-Thuwaini deputy chief investment banking officer said: We re excited to record another milestone under the bank s global real estate investment programme due to the hard efforts of the team at the Investments B...

Kuwait-based Warba Bank has expanded its international real estate investment programme with the acquisition of a multi-family apartment complex in the US for 17.34 million. The investment in Ultris at Banyan Grove Virginia Beach marks the second investment in 2017 made by Warba Bank. The property is sourced by its strategic partner Bentall Kennedy one of the leading real estate consultancy firms assigned by Warba Bank as its real estate consultant and co-investor for the bank s commercial real estate investments in US. The propriety has been acquired in a joint venture with a locally based operating partner Croatan Investments that has local knowledge and a long track record in the Hampton Roads area. The Ultris at Banyan Grove is a Class A multifamily community comprising 13 buildings with 288 units. Built in 2003 this apartment community has spacious floor plans and a full spectrum of community amenities. Cen...

Kuwait-based Warba Bank a top investment bank has posted a net profit of KD2.523 million ( 8.3 million) for the first half (H1) of the year compared to KD0.455 million for the same period of 2016 marking a rise of 455 per cent. The increase in the bank s total revenues was driven by strong performance of all business units. Its overall revenues reached KD26.311 million with an increase of 57 per cent compared to the first half of 2016. Moreover its operating revenues increased by 66 per cent and amounted to KD16.815 million at the end of the first half of 2017 compared to KD10.109 million for the same period of 2016. The total assets of the bank increased due to its strategy of expansion in the local and regional markets and investments in high quality and low-risk assets with a value of KD1.498 billion. Its financing portfolio witnessed a remarkable growth as it became KD1.132 billion with an increase of 68 per cent over the first h...

Kuwait-based Warba Bank recently purchased a newly constructed vehicle imports / exports facility leased to Kia Motors UK for unbreakable lease term of 20 years expiring in 2037 on full repairing and insuring terms. The facility is strategically located on Kiln Lane Industrial Estate just one and a half miles from the docks at nearby Immingham which receives imported vehicles from Korea to UK and also from other manufacturing plants in Europe. The Ports of Immingham and Grimsby combined are the UK s largest ports by tonnage handling up to 60 million tonnes including nearly 20 million tonnes of oil and 10 million tonnes of coal per annum. Shaheen Hamed Al Ghanem Warba Bank s CEO said: We see in this acquisition the start of the bank s vigorous international real estate investment program in order to ensure steady and secured returns for the investors and depositors. The Investment Banking Group is fully co...

Shaheen Al-Ghanem chief executive of Warba Bank one of Kuwait s leading banks today rang the market-opening bell to celebrate the listing on Nasdaq Dubai of a 250 million Perpetual Tier 1 Basel III compliant capital sukuk. The sukuk instrument will further strengthen Warba Bank s capital base and support the bank s continued growth and development as well as its commitment to Islamic finance said a statement Established in 2010 Warba Bank is expanding its activities in the full range of banking and investment services in Kuwait in compliance with Sharia a principles. Warba Bank operates through corporate retail treasury and investment business functions offering a wide variety of innovative banking and investment products and financial services to corporate and retail customers. As more Kuwaiti companies choose Nasdaq Dubai as a listing venue the sukuk reflects the accelerating grow...

Warba Bank a leading investment bank in Kuwait has achieved international success for its maiden sukuk issuance of 250 million Tier 1 Mudaraba Capital Certificates. A one-week marketing campaign succeeded in attracting investor interest worth approximately 1.3 billion from Kuwait Dubai Hong Kong Singapore and London attaining an oversubscription of more than five times the sukuk issuance size the bank said. Warba Bank CEO Shaheen Hamad Al-Ghanem said the bank s success in attracting such diverse and deep investor interest reflected the confidence of the investment community in the bank s performance and its future as crafted in its 2017-2021 strategic plan. The callable 250 million perpetual sukuk was issued at a coupon rate of 6.50 per cent with the first call date set for March 14 2022. Al-Ghanem indicated that the success of the bank in covering the underwriting of the sukuk which aims at c...