Ahli Bank Announces Readiness to Begin Subscription for 27.29% Capital Increase

Kuwait National Bank (KNB) announced its readiness to launch the subscription process for its capital increase, following the receipt of all necessary regulatory approvals and the completion of required preparations. The process will involve the issuance of 750 million shares, representing a 27.29% increase in the bank’s issued and paid-up capital.

The new shares will be offered for subscription at a price of 200 fils per share, comprising a 100 fils nominal value plus a 100 fils share premium. Consequently, the capital increase will add 75 million Kuwaiti dinars to the bank’s paid-up capital, along with 75 million dinars in share premium, bringing the total offering value to 150 million dinars. Upon completion of the process, KNB’s issued and paid-up capital will rise to 349.86 million dinars.

The subscription comes as the bank finalizes its new five-year strategy for the period 2027–2031. Eligible shareholders are those registered in the bank’s shareholder register as of the record date, Wednesday, November 4, 2026. The subscription period will run from Sunday, November 8, to Sunday, November 22, closing at 1:00 PM Kuwait time.

The prospectus and all information related to the offering and subscription are available on the websites of Kuwait National Bank, ABK Wealth Management, and the Kuwait Stock Exchange. Subscription applications will be accepted through the online subscription platform www.ipo.com.kw, operated by the Kuwait Clearing Company, during the subscription period. Kuwait National Bank has appointed ABK Wealth Management as the issuer manager and subscription agent.

Commenting on the occasion, Talal Mohammad Reza Bahbahani, Chairman of the Board of Directors of Kuwait National Bank Group, stated: “The capital increase will enhance our ability to support our ambitious new five-year strategy and implement associated growth plans, while maintaining adequate capital margins.”

Bahbahani added that this step coincides with the bank’s strong financial performance over the past period, noting that positive results and continuous growth reflect the robustness and high resilience of the Kuwait National Bank Group’s business model in adapting to market changes.

He explained that the proceeds from the subscription will support the bank’s strategy to develop its digital capabilities and invest in technological infrastructure, enhance artificial intelligence applications, and ensure the delivery of an exceptional and seamless banking experience to customers. Additionally, the capital increase will facilitate the expansion of the bank’s commercial banking activities in its operating markets and further consolidate Kuwait National Bank’s position as a key partner in supporting the local economy.

Bahbahani anticipated strong investor interest in the subscription for the shares related to the capital increase, citing the high level of confidence enjoyed by the bank among investors, shareholders, and customers. He emphasized his constant commitment to maximizing shareholder value.

This confidence was also reflected in the bank’s previous capital increase in 2023, which attracted subscriptions totaling 331.37 million dinars, exceeding the offering value of 100 million dinars by more than 3.3 times.

Bahbahani also praised the continuous support provided by local regulatory authorities, notably the Central Bank of Kuwait, the Capital Markets Authority, the Kuwait Stock Exchange, and the Ministry of Commerce and Industry.

Kuwait National Bank reported net profits of 54.2 million dinars during the first nine months of 2026, representing a 16.2% growth compared to the same period in the previous year.

Earnings per share reached 17.6 fils, compared to 15 fils during the first nine months of the previous year.