Latest news with #Warba
Arabian Post
12-06-2025
- Business
- Arabian Post
GCC Banks Accelerate Toward USD‑Denominated AT1 Sukuk Surge
Sharjah Islamic Bank and Warba Bank have spearheaded a flurry of USD‑denominated Additional Tier 1 sukuk issuances across the Gulf Cooperation Council, as institutions capitalise on narrower spreads, robust investor demand and abundant liquidity to bolster capital under Basel III norms. Sharjah Islamic priced a US$500 million perpetual issuance with a six‑year non‑call period at 6.125%, tightening from initial guidance of 6.5%, after books exceeded US$1 billion. Simultaneously, Kuwait's Warba Bank concluded a US$250 million AT1 sukuk issuance, re‑offering at a 6.25% yield—also tightened from initial guidance of 6.5%. The instrument, based on a perpetual structure with a 5.5‑year non‑call window, follows Warba's major equity move: the acquisition of a 32.75% stake in Gulf Bank from Alghanim Trading and a KWD 436.7 million rights issuance completed in April. Sharjah Islamic Bank's listing on Nasdaq Dubai marks its fifth sukuk issuance, raising its total sukuk portfolio on the exchange to US$2.5 billion. The deal attracted strong interest from regional and international investors, reinforcing Dubai's growing role as a nexus for Islamic capital. The transaction's pricing depth, with a reset spread of 195.6 basis points—125.7 bps tighter than its 2019 equivalent—highlights an improved cost of capital. ADVERTISEMENT Analysts attribute this wave of AT1 issuances to an increasingly mature Islamic fixed‑income market. GCC banks are under pressure to meet Basel III capital thresholds while tapping investor appetite for Sharia‑compliant instruments amid a global shift towards ethical finance. The depth and oversubscription observed signal confidence in GCC financial stability and growth trajectories. Banking insiders view Sharjah Islamic's move as emblematic of a broader trend. Its programme is now a benchmark in AT1 pricing within the Islamic sukuk arena, and the issuance is being seen as a signpost to other regional banks eyeing capital diversification. Global Capital, a financial news provider, has reported that Warba's issuance helped catalyse the broader GCC AT1 market, with Saudi banks preparing similar deals. Warba Bank's issuance was structured via Warba Tier 1 Sukuk Limited, and it is dual‑listed on the London Stock Exchange's International Securities Market and Nasdaq Dubai. The sukuk follows a Mudaraba structure and was syndicated by joint global coordinators and bookrunners including Emirates NBD Capital, Standard Chartered, Abu Dhabi Commercial Bank and HSBC. The financial backdrop has been supportive: increasing liquidity in global markets, stable benchmark yields in the US, and sustained inflows into Islamic finance vehicles. Sharjah Islamic underscores its confidence in long‑term strategy, stating the issuance supports its capital base aligned with Basel III standards . Meanwhile, Warba's move is synchronised with its stake acquisition in Gulf Bank, reflecting a broader expansion and capital optimisation strategy. Investor sentiment continues to favour GCC issuers. Demand for Sharia‑compliant fixed‑income paper is rising, particularly from European institutional investors and Islamic funds, seeking diversification. Sharjah's issuance was oversubscribed by over two‑times its size, with participation spanning the GCC, Europe and Asia. Gulf markets are responding in kind: Saudi banks are preparing their own AT1 sukuk to finalise in the coming months, encouraged by the positive reception to these pricings.
Arab Times
14-04-2025
- Automotive
- Arab Times
Warba Bank wins first place in final round of the second GR Yaris Cup
KUWAIT CITY, April 14: Warba Bank earned the first place in the fifth and final rounds of the second season of the GR Yaris Cup, concluding a highly competitive and dynamic season. The GR2 team, representing Kuwait, also emerged victorious in the championship, defeating the Qatari team in the regional round. Held in Kuwait with the participation of racers from both Kuwait and Qatar, the cup concluded last weekend and witnessed exceptional performances from the talented young drivers, as Warba Bank celebrated this national achievement as a testament to the dedication and potential of Kuwaiti youth, an achievement that aligns with the bank's social responsibility and its vision to empower the youth and support them across diverse fields. Warba Bank's sponsorship of the cup affirms its ongoing commitment to supporting sports initiatives that showcase the passion, discipline, and advanced skills of Kuwaiti youth. These platforms provide young individuals with the opportunity to compete, grow, and realize their ambitions in a stimulating environment. On this occasion, the Chief Marketing and Corporate Communication Officer at Warba Bank, Dr. Mohammad Barakat, said, 'We are proud to have supported this outstanding sporting event, which reflects the spirit of competition and enhances Kuwait's reputation on the regional sports stage. This victory underscores the importance of investing in youth and providing them with opportunities to express their full potential, an objective that Warba Bank continues to uphold through its diverse initiatives focused on human development and empowerment.' Dr. Barakat concluded by congratulating the winners, organizers, and all participants, reaffirming Warba Bank's ongoing support for initiatives that combine excellence and innovation. He added, 'This cup reflects the values we believe in at Warba Bank, values captured in our slogan: 'We Hear You, Let's Own Tomorrow.'' Warba Bank places a strong emphasis on its social responsibility, demonstrated through its consistent support for initiatives that leave a positive and lasting impact on society. Warba is particularly focused on empowering the youth by investing in their creative, professional, and athletic potential. It also sponsors events that combine innovation and excellence, whether in education, technology, or sports, believing that investing in youth is a direct investment in the future of Kuwait. The bank's support for events such as the GR Yaris Cup aligns with its vision of enabling local talent and fostering a spirit of competition, creativity, and achievement among the next generation. Building a Better Tomorrow Guided by its slogan 'We Hear You, Let's Own Tomorrow,' Warba Bank remains committed to setting new standards for the future of Islamic banking. Through digital innovation, service excellence, and sustainable development, the Bank is reshaping customer experience while promoting a comprehensive and inclusive financial system. With one of the largest shareholder bases and being one of the fastest-growing Islamic banks in Kuwait, Warba continues to reinforce its position as a trusted partner for individuals and businesses alike. Its notable success in a short period has positioned it at the forefront of digital Islamic banking, offering Sharia-compliant products and services that are accessible, innovative, and aligned with the aspirations of a modern society.
