NBK to acquire 94% of Al Watany Bank of Egypt

National Bank of Kuwait (NBK) announced  today the acquisition of a 93, 77% stake of  Al Watany Bank of Egypt, the equivalent of 70,327,903 shares following the expiry of the tender offer to purchase all the shares through the Capital Market Authority of Egypt.

Commenting on the occasion, NBK Chief Executive Officer, Ibrahim Dabdoub expressed his extreme satisfaction for the progress made to conclude the deal, stressing that it constitutes a vital step within the Bank's regional expansion strategy and reiterated NBK's pleasure on entering the Egyptian market "which is one of the most promising markets in the region".