Kuwaiti bank "Warba" announced on Thursday that the General Authority for Competition agreed to its request to acquire shares in another bank. This deal will allow "Warba" bank to acquire 53.27% of shares in another financial institution. It is proposed that the total value of the deal will be around 13.4 million Kuwaiti dinars. As a result, "Warba" bank will strengthen its position in the market and will be able to offer a wider range of financial services to its clients.
"This deal represents an important step in the development strategy of "Warba" bank," noted the representative of the Kuwaiti bank. "We are confident that it will allow us to expand our presence in the market and improve the quality of service for our clients." The parties intend to finalize the deal in the coming months after receiving the necessary approvals and completing all official procedures.
