Latest news with #NBK
Kuwait Times
7 days ago
- Business
- Kuwait Times
NBK concludes full stack developer program in collaboration with CODED
Nineteen trainees successfully completed the specialized program KUWAIT: National Bank of Kuwait (NBK) has concluded the Full Stack Developer Bootcamp—an intensive 14-week training initiative held at the Bank's headquarters in collaboration with CODED Academy. The program aims to strengthen the technical capabilities of young professionals in the banking sector, equipping them with advanced skills in programming and technology to support the industry's digital transformation. The closing ceremony of the program was attended by members of NBK's executive management led by Shaikha Al-Bahar, Deputy Group Chief Executive Officer at NBK, Mohammad Al-Kharafi, Group Chief Operating Officer at NBK, and Emad Al-Ablani, Group Chief Human Resources Officer at NBK, alongside senior leaders from both the Bank and CODED Academy. During the event, certificates were awarded to the 19 trainees who successfully completed the program. Graduates presented their final projects, showcasing the technical skills and practical knowledge they gained throughout the training program, which drew highly favorable reactions from the audience. The program was designed to equip trainees with professional competencies in software development, introducing them to advanced and comprehensive programming techniques and their practical applications in the workplace. It was structured in two phases: the first—a two-week selection and foundational stage—aimed to assess participants' technical readiness and commitment to the program's rigorous standards. The second phase, spanning 12 weeks, provided an immersive experience in advanced programming languages and integrated development techniques, enabling trainees to apply their skills in real-world scenarios. Commenting on the program, Emad Al-Ablani, Group Chief Human Resources Officer at NBK, stated: 'NBK's organization of this distinguished program in collaboration with CODED Academy reflects our ongoing commitment to empowering Kuwaiti youth. We remain dedicated to launching innovative training initiatives, educational programs, and targeted workshops that foster creativity, drive innovation, and prepare young talent to navigate today's competitive job market with confidence.' He further noted that NBK offers full-time employment opportunities to top-performing graduates of the program. Al-Ablani emphasized that, in line with NBK's pioneering role in driving digital transformation and its firm belief in the importance of empowering national talent, the Bank remains deeply committed to supporting Kuwait's strategic technological agenda. He noted that NBK continuously works to enhance the digital capabilities of Kuwaiti professionals by equipping them with the technical skills necessary to contribute effectively to the nation's economic development, address future challenges, and stay abreast of rapid technological advancements—across all sectors in general, and the banking industry in particular. He emphasized that NBK remains committed to leaving a lasting social impact by supporting a wide range of programs and initiatives focused on developing highly skilled national talent. He added that Kuwaiti youth possess immense potential and capabilities that, with the right guidance and nurturing, can be effectively harnessed to advance the nation's sustainable development goals. NBK plays a pivotal role in shaping the development journey of the current generation of Kuwaiti youth, placing strong emphasis on programs and initiatives designed to equip young individuals with the knowledge and skills essential to their personal growth and the long-term prosperity of Kuwaiti society as a whole. Furthermore, NBK remains firmly committed to staying at the forefront of technological advancement, continuously embracing innovation to pave the way for a successful digital future. The Bank consistently rolls out targeted training programs and initiatives aimed at fostering innovation and building specialized skill sets, including programming languages, coding, data analysis, and other key competencies essential to the evolving digital landscape. Al-Ablani: We are committed to launching innovative training initiatives that foster creativity and empower Kuwaiti youth Our goal is to equip a new generation with the skills needed to drive technological progress and actively contribute to the growth of the national economy
Zawya
06-07-2025
- Business
- Zawya
NBK prices $800mln in landmark Additional Tier 1 bond issuance
Robust participation from international investors underscores strong confidence in NBK's credit profile Intense investor demand enabled a 50bpd tightening from initial price guidance, with final pricing set at 6.375% Final pricing reflects a spread of just 240.3 basis points over US Treasury yields The orderbook peaked at US$2.2 billion, representing an oversubscription of around 2.75x the deal size International investors accounted for 53% of total allocations, while 47% originated from within the MENA region Asset managers and investment funds represented 48% of allocations, followed by banks and private banking at 44%, while other investors comprised the remaining 8% National Bank of Kuwait (NBK) successfully priced a US$800 million PNC6 Additional Tier 1 bond issuance (AT1)—its largest issuance to date in this capital tier—following strong investor demand. The issuance was met with broad interest from global investors, marking a notable return to the GCC AT1 market after a brief pause that followed a concentrated wave of issuances in May. The issuance attracted strong demand, with subscription orders peaking at US$2.2 billion—2.75x the issued amount—underscoring robust interest from a diversified pool of global investors and financial institutions. Private banks, in particular, played a pivotal role as key anchors during the orderbook building process. This overwhelming response reflects international investor confidence in NBK's solid credit profile and Kuwait's position as an attractive investment destination. MENA-based investors accounted for 47% of total allocations, followed by investors from the UK (19%), the United States (18%), Europe (13%), and Asia (3%). By investor type, asset managers and investment funds represented the largest share at 48%, followed by banks and private banking clients at 44%, while sovereign entities, insurance firms, and pension funds comprised the remaining 8% of total demand. Robust investor demand enabled NBK to achieve highly favorable pricing for the issuance, with the final yield set at 6.375%—representing a 50 basis point tightening from the initial price thoughts (IPTs) of 6.875% (equivalent to UST+240.3bps). The investment-grade credit rating of the issuance, at Baa3 from Moody's, further enhanced its appeal—driving strong interest from international private banking platforms and global asset managers. Citigroup, J.P. Morgan, HSBC, and Standard Chartered acted as Global Coordinators for the issuance, while the Joint Lead Managers included Citigroup, J.P. Morgan, HSBC, Standard Chartered, First Abu Dhabi Bank, Emirates NBD, Abu Dhabi Commercial Bank, KAMCO Investment Company, and National Bank of Kuwait. The bonds, which will be listed on the London Stock Exchange, are expected to strengthen NBK's capital adequacy ratios. The new issuance was conducted in parallel with NBK's liability management exercise which offered holders of the Bank's outstanding US$750 million Additional Tier 1 securities, issued on November 27, 2019, the option to roll their existing positions into the new offering.
Kuwait Times
05-07-2025
- Business
- Kuwait Times
NBK prices $800 million in landmark Additional Tier 1 bond issuance
Issuance represents Bank's largest AT1 transaction to date amid strong global investor demand KUWAIT: National Bank of Kuwait (NBK) successfully priced a $800 million PNC6 Additional Tier 1 bond issuance (AT1)—its largest issuance to date in this capital tier—following strong investor demand. The issuance was met with broad interest from global investors, marking a notable return to the GCC AT1 market after a brief pause that followed a concentrated wave of issuances in May. The issuance attracted strong demand, with subscription orders peaking at $2.2 billion—2.75x the issued amount—underscoring robust interest from a diversified pool of global investors and financial institutions. Private banks, in particular, played a pivotal role as key anchors during the orderbook building process. This overwhelming response reflects international investor confidence in NBK's solid credit profile and Kuwait's position as an attractive investment destination. MENA-based investors accounted for 47 percent of total allocations, followed by investors from the UK (19 percent), the United States (18 percent), Europe (13 percent), and Asia (3 percent). By investor type, asset managers and investment funds represented the largest share at 48 percent, followed by banks and private banking clients at 44 percent, while sovereign entities, insurance firms, and pension funds comprised the remaining 8 percent of total demand. Robust investor demand enabled NBK to achieve highly favorable pricing for the issuance, with the final yield set at 6.375 percent—representing a 50 basis point tightening from the initial price thoughts (IPTs) of 6.875 percent (equivalent to UST+240.3bps). The investment-grade credit rating of the issuance, at Baa3 from Moody's, further enhanced its appeal—driving strong interest from international private banking platforms and global asset managers. Citigroup, JP Morgan, HSBC, and Standard Chartered acted as Global Coordinators for the issuance, while the Joint Lead Managers included Citigroup, J.P. Morgan, HSBC, Standard Chartered, First Abu Dhabi Bank, Emirates NBD, Abu Dhabi Commercial Bank, KAMCO Investment Company, and National Bank of Kuwait. The bonds, which will be listed on the London Stock Exchange, are expected to strengthen NBK's capital adequacy ratios. The new issuance was conducted in parallel with NBK's liability management exercise which offered holders of the Bank's outstanding $750 million Additional Tier 1 securities, issued on November 27, 2019, the option to roll their existing positions into the new offering.
Zawya
03-07-2025
- Business
- Zawya
National Bank of Kuwait prices $800mln perpetual non-call 6-year bond
The National Bank of Kuwait (NBK) tightened the price on its $800 million Tier 1 perpetual non-call 6-year bond to 6.375%, after initially marketing the 144A/Reg S notes with price thoughts in the 6.875% area. The first reset date is July 10, 2031, with a margin of +234.3 basis points. Books were in excess of $2 billion, excluding JLM interest. NBK is the guarantor, with a rating of A1 (stable) by Moody's, A (stable) by S&P and A+ (stable) by Fitch. The issuance is expected to be rated Baa3 by Moody's. Proceeds will be used to support its Tier 1 Capital and for its general corporate purposes. Banks mandated include Citi, HSBC, JP Morgan, and Standard Chartered Bank as Joint Global Coordinators, along with ADCB, Emirates NBD Capital, First Abu Dhabi Bank, Kamco Invest and National Bank of Kuwait as Joint Lead Managers and Joint Bookrunners. The issuance will be listed on London Stock Exchange's International Securities Market. (Writing by Bindu Rai, editing by Seban Scaria)
Zawya
02-07-2025
- Business
- Zawya
National Bank of Kuwait's USD benchmark AT1 bond IPTs at 6.87% area
The National Bank of Kuwait (NBK) has issued IPTs in the 6.875% area for its 144A Reg S US dollar benchmark non-call 6-year AT1 bond offering. The bank is rated A1 (stable) by Moody's / A (stable) by S&P / A+ (stable) by Fitch, with the issuance expected to be rated Baa3 by Moody's. The bond will be priced later on Tuesday, July 2, with an issue date of July 10. The issuance will have a fixed rate, payable semi-annually. Banks mandated include Citi, HSBC, JP Morgan, and Standard Chartered Bank as Joint Global Coordinators, along with ADCB, Emirates NBD Capital, First Abu Dhabi Bank, Kamco Invest and National Bank of Kuwait as Joint Lead Managers and Joint Bookrunners. (Writing by Bindu Rai, editing by Seban Scaria)
