Investment arm of NBK finalising deal in Qatar, launching brokerage in Egypt
Kuwait's NBK Capital, the
investment arm of the major OPEC producer's biggest lender
National Bank of Kuwait (NBK), is in talks to buy
stakes in five firms for a private equity fund, its head said.
"Right in the pipeline we have five firms," said Chief
Executive Sala al-Fulaij, adding that one of deals was about to
be finalised in Qatar, while another firm was coming from top
oil exporter Saudi Arabia.
The rest came from Turkey or other Gulf Arab states such as
the United Arab Emirates, he added, declining to be more
NBK Capital is focussing on "non-cyclical, defensive"
sectors such as education, health or food for its private equity
business, he told Reuters on Monday.
NBK Capital is already invested in two Saudi firms.
"We focus on quality, not quantity. The number (of deals) is
not important. We only do this if we can add some value," he
said, adding that NBK Capital would only chase medium-sized
Apart from private equity deals, the bank sees also interest
from unnamed Saudi investors planning to use Kuwait as gateway
NBK Capital, which has about 170 staff, was also launching a
brokerage service in Egypt where parent firm NBK bought
Al-Watany Bank in 2007.
"Egypt is a very interesting market, it has much potential,"
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What comes to you mind when you see a bank is looking for more funds?If i was looking for a job and i think that my skills can fit anyway in that bank, its time to consider understanding the bank employment policy.For example if they consider unsolicited applications,why not send one.What i am saying is that is a good move that will create more employments and all unemployed,cheer up.