Financial and Banking News


UBK to Raise Capital 

The London-based United Bank of Kuwait (UBK) has announced plans to increase its paid-in capital from œ58.9mn at the end of 1985 by to its fully-authorized level of £100mn within the next three months by means of a rights issue among its existing 13 Kuwaiti institutional shareholders. According to a bank statement, the new capital will be used to underpin its securities dealing as well as to fund increases...