MANAMA: Khaleeji Commercial Bank (KHCB) has announced plans to issue additional Tier 1 (AT1) instruments of up to $200 million to support the capital base.

The proposal will be considered for approval by shareholders during the extraordinary general assembly meeting next month, said the bank.

The plan is part of its strategy for 2020 and also based on recommendations from the board of directors.

The capital raising is expected to have a positive impact on the bank’s operations and performance with its ability to support commercial activities more, in addition to promoting growth through entering into large projects, reducing costs of funding, strengthening capital adequacy and investing in the development of eBanking systems and the quality of services provided to clients, which will benefit KHCB’s financial position.

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