Warba Bank boosts investments portfolio
Kuwait, March 24, 2013
Warba Bank, an upcoming Islamic lender in Kuwait, has made significant progress over the past year in building its portfolio of investments in the region and the world, based on its strong business model and extensive networks of business contacts.
This reflects the potential of the bank’s team and their ability to complete deals with major companies in the local, regional and global markets, said a senior official.
During 2012, Warba Bank completed a series of crucial investments in key investment sectors, covering international markets reflecting the bank’s commitment to generating lucrative returns at low risk.
Among the successful ones are the property from Criterion Group in New York which was later developed it into a multi – family residential complex. The Bank financed the purchase of the land and building development of The Court Square development consisting of 155 apartment units with high-end finishes, spacious interiors and large private balconies with Manhattan skyline views.
"Despite the difficult conditions experienced in regional and global markets during recent years, the bank succeeded in securing a number of distinctive investment opportunities through the accumulated experience of the investment group," remarked Hosam Nasser Al Muzaiel, the investment manager of Warba Bank.
"Emerging markets are a particular area of focus and will remain so over the coming year because of its importance towards the overall growth of the world economy and its role in distributing investments geographically," said Al Muzaiel.
"Warba is interested in the investment opportunities in these markets without overlooking the opportunities in developed markets," he added.
The kuwaiti bank had also acquired the new headquarters of British Telecom (BT) located in the town of West Bromwich, UK. Through these investments, Warba seeks to achieve high returns on investments and guarantee the rights of the Kuwaiti people who are the bank’s shareholder.
"During the past year the bank succeeded in achieving a balance in the investment periods between short, medium and long-term investment hence securing lucrative returns and high growth during the period of record," said Al Muzaiel.
“Warba will continue to provide the depositors and investors with the opportunity to receive strong returns through a diversified investment approach that appropriately manages risk through the banks international standards, modern vision, Shariah compliance, internal resources and accumulated experience of the investment team,” he added.-TradeArabia News Service