Ahli Bank Announces Readiness for Subscription to Increase Issued and Paid-Up Capital by 27.29%

Kuwait National Bank (KNB) announced its readiness to commence the subscription process for a capital increase, having secured the necessary approvals from regulatory authorities and completed all required preparations. The increase will be effected through 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. The subscription will be available to shareholders registered in the bank’s shareholder register as of the record date, Wednesday, November 4, 2026. The subscription period will begin on Sunday, November 8, and end on Sunday, November 22, 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.

On this occasion, Talal Mohammad Redha 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 the associated growth plans, while maintaining adequate capital margins.” He added that this step coincides with the bank’s strong financial performance in recent periods, noting that positive results and continuous growth reflect the robustness and high resilience of the Kuwait National Bank Group’s business model in navigating market fluctuations.

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 funds will facilitate the expansion of the bank’s commercial banking activities in the markets where it operates. The capital increase will also help 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 of Kuwait National Bank’s capital increase, citing the high level of confidence the bank enjoys among investors, shareholders, and customers, and emphasizing his constant commitment to maximizing shareholder value. This confidence was also evident 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.

He also praised the continuous support provided to Kuwait National Bank 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 Kuwaiti dinars during the first nine months of 2026, representing a 16.2% increase compared to the same period last year. Earnings per share amounted to 17.6 fils, up from 15 fils in the first nine months of the previous year.