Kuwait's Gulf Bank will ask shareholders to approve a number of measures it is considering to help boost its capital reserves at a meeting scheduled for March 9, it said in a bourse filing.

The country's fourth-largest lender by assets said it would ask investors to approve a range of debt options, including loans or bonds that are convertible into shares of the bank.

The instruments would be in line with Basel III regulatory requirements and could be raised in local or foreign currency, the filing added.

It is the latest lender in the Gulf region to announce plans to boost its reserves, as banks seek to top up their capital after significant lending growth in recent years as well as to comply with Basel III global banking standards.

Gulf Bank's total capital adequacy ratio, a key indicator of its financial health, stood at 15.56 per cent as of Dec. 31, compared with a minimum requirement in Kuwait of 13 per cent. – Reuters