NBK Takes Control Of Rifbank
National Bank of Kuwait announced on 24 July that it had taken control of the medium-sized Lebanese bank Rifbank. According to reports from Lebanon, NBK previously had a 45% stake in Rifbank and upped its stake through subscribing an extra $5.5mn to raise its shareholding to 78% and Rifbank's total capital to $10.2mn. Rifbank has 6 branches and 113 staff and will change its name to National Bank of Kuwait - Lebanon.
Please log in to read the rest of this story.
You may purchase access to entire MEES digital archives by subscribing. This subscription gives you access to all the content of MEES digital archives up to 1978!