Al Kout signs KWD 10m credit facility deal with local bank

Mubasher: Al Kout Industrial Projects has signed a credit facility agreement with Boubyan Bank at a total value of KWD 10 million to finance the company’s activities.

The transaction has a positive impact that will reflect on the company's consolidated financial statements starting from the second quarter (Q2) of 2020, according to a stock exchange filing on Thursday.

It is worth remarking that in the fiscal year (FY) 2019, Al Kout recorded 23.9% lower profits at KWD 4.79 million ($15.42 million), compared with KWD 6.29 million ($20.25 million) a year earlier.

Mubasher Contribution Time: 14-May-2020 08:17 (GMT)
Mubasher Last Update Time: 14-May-2020 08:51 (GMT)