National Bank of Kuwait Shareholders Approve 50% Increase in Authorized Capital
The National Bank of Kuwait (NBK) held its Extraordinary General Assembly (EGM) with a robust shareholder attendance of 71.066%. During the meeting, shareholders signaled strong confidence in the bank’s future strategy by approving all agenda items, led by a significant increase in NBK’s authorized capital and amendments to its Articles of Association.
The EGM ratified an increase in the bank's authorized capital from KWD 1 billion to KWD 1.5 billion, divided into 15 billion shares with a nominal value of 100 fils per share. This strategic expansion provides the Board of Directors with the flexibility to increase issued and paid-up capital within the new authorized limits. The board has been further empowered to determine the timing, methods, and specific terms of the capital calls to seize emerging growth opportunities and bolster the bank’s financial position.