KEPCO confident in Barqan's growth prospects and committed to the project
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 the issuance of rights issues valued at up to 50 million Kuwaiti dinars.
The subscription period for the bank’s rights issue opened on August 14 and will continue until September 14, 2026. The process involves issuing 277.777777 million new ordinary shares at an issue price of 180 fils per share, raising proceeds of 50 million dinars, thereby strengthening 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 operations in Kuwait and the opportunities presented by economic and financial reforms being implemented by the Kuwaiti government, including legislation related to home financing. These developments are expected to open new avenues for the banking sector, enhancing the bank’s regional presence and expanding its services following its 2025 acquisition of BKW Bahrain (formerly Gulf United Bank).
On this occasion, Sheikh Adana Nasser Al-Sabah, CEO of the KIPCO Group, stated: “Bank of Kuwait and the World has always been one of KIPCO Group’s key investments. Our commitment to increasing its capital 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 operations 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 a window into Islamic banking. Furthermore, the inclusion of Kuwait Investment Company (KIC) enables the bank to expand its wealth management and investment services, offering a broader 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 revenue streams, and support sustainable growth.”
She concluded: “This capital increase supports this stage of BKW’s development, and we are confident in the bank’s ability to capitalize on available opportunities in Kuwait and the Gulf, translating its investments into stronger performance and sustainable long-term value.”
KIPCO believes that BKW’s strong operations 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.
