Middle East Economic Survey
NBK Buys Stake In Grindlays Qatar Bank, Assumes Management Control
National Bank of Kuwait (NBK) has signed an agreement to acquire a minority stake in Grindlays Qatar Bank (GQB) and assume day-to-day management of the entity, the two parties announced on 22 May. The agreement, which was expected to close this month (MEES, 10 May), increases the shareholders equity of GQB to approximately $100mn. Also announced...