KFH exploring options to expand into Saudi Arabia

Logo of Kuwait Finance House (KFH)

Kuwait Finance House (KFH) is thoroughly studying the potential expansion opportunities in Saudi Arabia, the company said in a statement to Boursa Kuwait.

The move aligns with KFH’s strategy of investing in other regional banks, including Saudi Arabia.

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KFH is committed to fulfilling all the relevant requirements of the regulatory bodies, especially the Central Bank of Kuwait (CBK).

Commenting on Bloomberg’s news of KHF’s intention to purchase a significant stake in The Saudi Investment Bank (SAIB), the company confirmed that it is still studying the available opportunities in more than one bank. However, no memorandums of understanding (MoUs) or agreements were signed with any bank in Saudi Arabia.

Boursa Kuwait announced that trading resumed on KFH shares, after a trading halt was placed on its shares pending the disclosure of a comment on the published news.

Bloomberg reported on Monday that KFH was exploring a bid to buy a majority stake in SAIB.