Rank: 45
Warba Bank
Date of Establishment: 2010
Country: Kuwait
CEO: Shaheen H. Al-Ghanem
Sales: $473 million
Profits: $19 million
Assets: $11.5 billion
Market Value: $1.3 billion
WARBA BANK operates through a network of 14 branches. The bank is 25.2% owned by the Kuwait Investment Authority, while Al Sayer Group Holding Company owns 10%. One of its key achievements in 2020 was issuing $498 million in an unsecured priority sukuk, listed as the first Kuwaiti Dinar sukuk issued by a Kuwaiti financial institution. In an effort to support government efforts to combat the spread of COVID-19, the bank contributed more than $33 million to the Central Bank of Kuwait fund.