ArabianBusiness.com - Middle East Business News
Sunday, 22 November 2009 21:43 UAE time

YOUR DIRECTORY /

| Share |

Foreign investors 'interested in Gulf Bank stake'

by This email address is being protected from spam bots, you need Javascript enabled to view it  on Wednesday, 12 November 2008
BANK INTEREST: Two foreign financial institutions are reportedly interested in taking a stake in Gulf Bank. (Getty Images)
BANK INTEREST: Two foreign financial institutions are reportedly interested in taking a stake in Gulf Bank. (Getty Images)

Kuwait's Noor Financial Investment Co said on Wednesday it is representing two foreign financial institutions that are considering taking a stake in troubled Gulf Bank.

"Noor will start talks with the central bank and major shareholders in Gulf Bank to discuss the suitable mechanism to implement this," it said in a statement on the bourse website.

It did not name the foreign institutions, saying only that one of them is from the Gulf region and both want to become strategic investors in the Kuwaiti lender.

Story continues below ↓
advertisement

Last month, the central bank stepped in to support Gulf Bank after it was hit by derivatives losses, appointing a treasury supervisor and guaranteeing its deposits. (Reuters)

| Share |


READERS' COMMENTS

Disclaimer: The views expressed here by our readers are not necessarily shared by ArabianBusiness.com or its employees.

Click here to post a comment


Add your Comment
All posts are sent to the administrator for review and are published only after approval. ArabianBusiness.com reserves the right to remove any comment at any time for any reason. Please keep your responses appropriate and on topic.
Arabian Business would like to point out that only comments relevant to the story will be published. Any containing personal insults or inappropriate language will not be approved.
Name *
Remember me on this computer
Email *
(Your email address will not be published)
City
Country
Subject *
Comment *
Notify me of further comments


Please click post only once - your comment will not be published immediately.


MORE FROM ARABIANBUSINESS.COM

TOP IN MIDDLE EAST BANKING & FINANCE

  1. Tamweel, Amlak merger seen in Q1 2010
  2. StanChart to boost Mideast pvt banking business
  3. SocGen opens wealth management office Bahrain
  4. More UAE bank mergers predicted in 2010 - Ethos
  5. UAE banks' Saad, Algosaibi exposure seen at $2.9bn

TOP MIDDLE EAST BUSINESS STORIES

  1. Emirates NBD has $350m Saudi exposure - chief
  2. Kuwait to allocate Iran port to boost trade
  3. Sunseeker ME announces regional expansion plans
  4. US leisure giant to open first Mideast hotel
  5. Qatar-Bahrain causeway work to being Q1 2010

ALSO IN MIDDLE EAST BANKING & FINANCE

  1. Emirates NBD has $350m Saudi exposure - chief
  2. The Roubini Vs Rogers debate
  3. Dubai's Abraaj eyes property investments
  4. Emirates NBD launches bank’s new brand identity
  5. Dubai replaces head of DIFC

LATEST MIDDLE EAST BUSINESS NEWS

  1. Sport: Lee Westwood wins Race to Dubai
  2. Construction & Industry: Qatar signs $22.79bn rail deal with Deutsche Bahn
  3. Media & Marketing: Dubai developers see negative press reports decline
  4. Transportation: Kuwait to allocate Iran port to boost trade
  5. Retail: Sunseeker ME announces regional expansion plans

SHARE PRICE CHECK

more » MIDDLE EAST MARKETS DATA

GBK.KSE

Last Price:

290.00

+5.00+1.75%

22 Nov 2009 09:29 GMT
(Market Closed)

RELATED STORIES

Gulf Bank
| 39 stories
  1. Big Kuwait, Bahrain banks Q3 profits sag on Saudi loans
    25 Oct '09 | News
  2. Gulf Bank CEO eyes start of recovery in 2010
    28 Sep '09 | News
  3. Zain Saudi Arabia seals $2.5bn loan
    11 Aug '09 | News

RELATED LINKS

  1. Gulf Bank»
Related links open in a new window and are not endorsed by ArabianBusiness.com.

 EMAIL ALERTS

  1. Gulf Bank

  2. Banking & Finance


CURRENCY CONVERTOR

Tell us your story

CURRENT ISSUE


 

READER COMMENTS

  1. RTA to lease last batch of retail outlets on Red Line 05
    22 Nov ' 09 at 15:33
    Dont really know how well these outlets do. No feedback.   More  »
  2. The Roubini Vs Rogers debate 04
    22 Nov ' 09 at 14:44
    Simon, I agree with everything you say. The paper gold games of Comex and the gold fractional reserve banking system of the LBMA are...   More  »
  3. Dubai population grows 1.9% in Q2 03
    22 Nov ' 09 at 17:22
    nothing to do with sharjah and abu dhabi residents moving to dubai for better quality apartments or lower cost then?increased...   More  »

Read all user comments >

Gitex 2009

MORE FROM ARABIANBUSINESS.COM

JOBS

SPECIAL REPORTS

SURVEYS & REPORTS

PROPERTY