Learn about the banks involved in financing the “Kuwait Petroleum” Corporation

Learn about the banks involved in financing the “Kuwait Petroleum” Corporation
Learn about the banks involved in financing the “Kuwait Petroleum” Corporation
Mubasher – Iman Ghali: Eight banks listed on the Kuwait Stock Exchange announced today, Sunday, their participation in a joint credit facility agreement worth one billion dinars with the Kuwait Petroleum Corporation.

According to the banks ’statement to the Kuwaiti Stock Exchange, the agreement was signed by Kuwait and National Bank and Kuwait Finance House” KFH “on September 16th. To finance capital Kuwaiti petroleum projects.

The National Bank, according to the data, will be the bank responsible for the loan, the conventional bank agent and the global agent, and its share of the financing will reach 370 million dinars..

And he indicated that the financing granted to the Kuwait Petroleum Corporation is among the normal business carried out by Kuwaiti banks.

The following is a table showing the names of the banks participating in the Kuwait Petroleum Loan and their respective shares:

This came as a response from the banks announced on the Stock Exchange to what was published in “Al-Anbaa” regarding the Kuwaiti petroleum signing a huge financing deal, which is the largest we have signed in the country since the outbreak of the Coronavirus pandemic.

The Kuwaiti Cabinet had granted the Kuwait Petroleum Corporation approval in 2019, to take bank loans to finance capital projects for the oil sector during the next five years.

It was reported that the corporation sought to obtain a loan of two billion dinars, but the Central Bank of Kuwait decided to approve a loan of only one billion dinars..

This trait played an important role in Supporting the Kuwait Stock Exchange trading Today, after the end of the mourning scheduled for the death of the late Amir of the country, Sabah Al-Ahmad Al-Sabah.

The first market index jumped by 3.06%, the general index rose 2.73%, the main 50 increased by 2.29%, and the main market grew by 1.77%, compared to the level on September 29.

Nominations ..

NBK and KFH sign a facility agreement with Kuwait Petroleum, worth one billion dinars

The Kuwait Stock Exchange will resume trading in Aayan shares after the announcement of agreements

Bayan is negotiating with a local bank to schedule debts of 3.6 million dinars

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