Mubasher: KIB announced that it has a total exposure to NMC Healthcare Group worth $74.98 million (KWD 23.13 million) in the form of two syndicated Murabaha facilities.
The Kuwaiti lender, however, has no exposure to Finablr, the UAE Exchange Centre, or any other subsidiary of NMC, according to a stock exchange filing on Monday.
Moreover, KIB referred that it is difficult to assess the material impact on its financial statements at the moment, adding that it will disclose any relevant developments in due course.
It is worth pointing that in 2019, 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.
