Financial and Banking News
REGIONAL BANKING
NBK Control of FRAB Consolidated
The National Bank of Kuwait (NBK) has increased its stake in the FRAB Bank group from 87% to over 97% with the purchase of some FF3.97bn-worth equivalent to 10% of the group's equity from a Saudi investor. NBK first acquired a 51% stake in FRAB in November 1981 and increased this to 87% in July 1986 by buying out the bulk of the Arab shareholders in what had originally been a French/Arab banking consortium....
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