April 10, 2018 / 1:54 PM / 11 days ago

Kuwait's NBK has plans to increase stake in Islamic lender at right price- Sky News Arabia

KUWAIT, April 10 (Reuters) - National Bank of Kuwait (NBK) has plans to increase its stake in Islamic lender Boubyan Bank if there is an opportunity at the right price and time, NBK’s chief executive Isam al-Sager was quoted as saying on Tuesday.

Al-Sager’s interview was broadcast on Sky News Arabia, an Abu Dhabi-based TV channel.

He emphasised that NBK is the main shareholder in Boubyan Bank and has been gradually increasing its stake in the Islamic lender over the last decade.

NBK currently owns 61.25 percent of the bank, according to Thomson Reuters data. (Reporting by Ahmed Hagagy, writing by Hadeel Al Sayegh)

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