The Board of Directors of Kuwait International Bank (KIB) has approved the acquisition by its subsidiary, KIB Invest Investment Company, of the entire stake owned by Warba Insurance and Reinsurance Company (a related party and shareholder in the bank) in Credit One Kuwait Holding Company.

This move is in line with the applicable regulatory rules and guidelines and forms part of Al-Dawli Invest’s investment strategy to increase its stake in Credit One Kuwait Holding Company, supporting the company's strategic objectives, according to a statement published on Boursa Kuwait today (Thursday).

The total value of the transaction amounted to KD 11,172,498, involving 20,499,997 shares at a price of 545 Fils per share.

The financial impact of the transaction will be reflected as an increase in investment assets, along with a reclassification of the investment from “fair value through other comprehensive income” to an investment in an associate, within the bank’s consolidated financial statements.

This reclassification will be subject to review by the external auditors during the fourth quarter of 2025.