KEPCO reaffirms commitment to Bank of Kuwait and the Middle East (BKME) and confidence in its future growth
KEPCO supports a 50 million KD capital increase for BKME and reaffirms confidence in its growth
Translated by Qiyas from النهار — Original source
Kuwait Projects Company (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 continue 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, thereby enhancing the bank’s capital base and financial resilience.
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 the economic and financial reforms being implemented by the Kuwaiti government, including legislation related to mortgage financing, which is expected to open new avenues for the banking sector.
The bank’s 2025 acquisition of Bank of Kuwait and the World – Bahrain (formerly United Gulf Bank) strengthened its regional presence and expanded its service offerings. Bank of Kuwait and the World – 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 management, asset management, and investment banking, and enabling 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 Al-Sabah, CEO of 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: “Bank of Kuwait and the World – Bahrain represents a significant addition to the group’s operations, providing a presence in the Bahraini market and an Islamic banking window. The inclusion of KAMCO Invest enables the bank to expand its wealth and investment management services and offer a wider range of products to its clients. We view the integration of these capabilities as an opportunity to deepen the bank’s relationships with its clients, diversify income sources, and support sustainable growth.”
She further stated: “This capital increase supports BKW’s current stage of development, and 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 BKW’s strong business presence in Kuwait, combined with its operations 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.
