Mubasher: Warba Bank announced that its exposure to the NMC Healthcare Group could have a slightly negative impact of 0.98% in the worst case scenario.
The percentage is “clearly insignificant” in terms of the lender’s commitment to regulatory ratios, the bank said in a bourse filing on Tuesday.
Warba Bank is still in compliance with the required regulatory ratios. Its capital adequacy ratio (CAR) registered 18.5% as at 31 December 2019.
On Monday, the bank reported a total exposure of $67.24 million (KWD 20.75 million) to the NMC Healthcare in the form of syndicated Murabaha facilities and investment on its Sukuk.
By 2019 year-end, the bank recorded a 30% year-on-year (YoY) profit increase at KWD 16.5 million ($53.94 million), compared to KWD 12.74 million ($41.65 million) in 2018.
