Mubasher: KIB on Tuesday said that it is too early to estimate the impact of the bank’s exposure to the NMC Healthcare Group.
However, it added that, in all scenarios, the exposure’s impact on KIB’s capital adequacy ratio (CAR) is insignificant and does not exceed 1.15%, according to a bourses statement.
The Kuwaiti lender enjoys strong capitalisation that reached 19.24% as at the fiscal year (FY) ended on 31 December 2019, significantly above regulatory requirements.
On Monday, KIB announced a total exposure worth $74.98 million (KWD 23.13 million) to the NMC in the form of two syndicated Murabaha facilities.
Last year, KIB reported profits worth KWD 17.15 million ($56.56 million), down by 17.9% from KWD 20.89 million ($68.9 million) in 2018.
