Al-Nasser: "Barqan - Bahrain" an important addition to the group's activities and a window for Islamic banking

Kuwait Projects Company (Holdings) – KIPCO – has reaffirmed its commitment to Bank of Kuwait and the World (BKW) and its confidence in the bank’s long-term growth prospects, coinciding with the bank’s ongoing capital increase through a rights issue valued at up to KD 50 million.

As a long-term strategic shareholder, KIPCO views the capital increase as a means to strengthen BKW’s capital base and support the implementation of its strategy, amid available growth opportunities in Kuwait and the Gulf Cooperation Council (GCC) countries.

The subscription period for BKW’s rights issue opened on August 14 and will run until September 14, 2026. The process involves issuing 277,777,777 new ordinary shares at an issue price of 180 fils per share, raising proceeds of KD 50 million. This will contribute to strengthening the bank’s capital base and financial flexibility.

KIPCO believes that BKW is well-positioned for the next phase, benefiting from the strength of its core business in Kuwait and the opportunities presented by economic and financial reforms being implemented by the Kuwaiti government, including legislation related to mortgage financing. These developments are expected to open new avenues for the banking sector, further enhancing BKW’s regional presence and expanding its services following its 2025 acquisition of BKW Bahrain (formerly Gulf United Bank).

BKW Bahrain provides corporate and institutional banking services under a conventional banking license, alongside an Islamic banking window, creating additional opportunities in banking and Islamic finance.

The acquisition also brought Kamco Invest into the BKW group, adding expertise in wealth and asset management and investment banking. This enables the bank to offer a broader range of wealth management and investment products and services to its clients.

Commenting on the occasion, Sheikh Adana Nasser Al-Sabah, CEO of the KIPCO Group, said: “Bank of Kuwait and the World has long been one of KIPCO’s key investments. Our commitment to the capital increase reflects our confidence in the bank, its management, and its strategy. We see promising opportunities for the bank in Kuwait and the region, supported by the strength of its core business and Kuwait’s economic and legislative developments.”

She added: “BKW Bahrain represents a significant addition to the group’s operations, providing a presence in the Bahraini market and an Islamic banking window. The integration of Kamco Invest allows the bank to expand its wealth and investment management services and offer a wider range of products to its clients. We view the synergy of these capabilities as an opportunity to deepen the bank’s relationships with its clients, diversify revenue streams, and support sustainable growth.”

She further stated: “This capital increase supports BKW’s current stage of development. We are confident in the bank’s ability to capitalize on opportunities in Kuwait and the Gulf, translating its investments into stronger performance and sustainable long-term value.”

KIPCO believes that the strength of BKW’s business in Kuwait, combined with its presence in Bahrain, its capabilities in Islamic banking, wealth management, and investment, as well as its established presence in Algeria, Tunisia, and Turkey, form a solid foundation for expanding its services, strengthening client relationships, and leveraging growth opportunities in regional markets.