Mubasher: Al Ahli Bank of Kuwait (ABK) on Wednesday revealed that its exposures to troubled NMC Healthcare Group, totalling KWD 13.6 million, represent 0.31% of the bank’s loan portfolio.
The impact of the exposure on the capital adequacy ratio (CAR) is very limited and does not exceed 0.28%, according to a statement to Boursa Kuwait.
Accordingly, ABK’s exposure to hospital group NMC Health has no material impact on the bank’s financial position.
Last Tuesday, the Kuwaiti lender said that its exposures to the UAE-based NMC Health amount to $26.28 million (KWD 8.11 million) and AED 65.44 million ($5.49 million).
It is worthy to note that in the fiscal year (FY) 2019, ABK recorded KWD 28.7 million worth of profits, down by 32% from KWD 42.12 million in 2018.
