Gulf Bank seeks shareholders’ approval for capital-boosting debt instruments
Gulf Bank will ask shareholders to approve a number of measures to help boost its capital reserves at a meeting scheduled for 9 March, it said in a bourse statement on Wednesday. The bank said these measures would be a range of debt options, including loans or bonds that are convertible into equity. The instruments would be Basel III compliant and could be raised in local or foreign currency, the statement added. Gulf Bank's capital adequacy ratio stood at 15.56% in 2015, compared with a minimum requirement in Kuwait of 13%. (Reuters)
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