CBK UPSIZES INTERNATIONAL MULTI-CURRENCY CERTIFICATE OF DEPOSIT PROGRAMME TO U.S. $2 BILLION FOLLOWING ISSUANCE SUCCESS

Commercial Bank of Kuwait K.P.S.C. (CBK) is pleased to announce the successful upsize of its international Certificate of Deposit (CD) Programme from U.S. $1,000,000,000 to U.S. $2,000,000,000. This landmark expansion reflects the Bank’s robust financial standing, strong solvency, and the exceptional reception it enjoys in global capital markets.

Strategic Marketing and Rapid Issuance Success

Commenting on the details of the programme upsize, Ms. Elham Yousri Mahfouz, Chief Executive Officer of Commercial Bank of Kuwait, said:

“I am pleased to announce the increase of our Certificate of Deposit programme. The decision to upsize followed the remarkable success of the Bank’s issuances since the programme’s official launch on 9 October 2025. In a very short period, our Bank successfully attracted institutional funding worth approximately U.S. $1 billion.”

She added that this success was achieved largely thanks to the Bank’s extensive marketing efforts, which included a comprehensive non-deal roadshow covering the Asia-Pacific region last year, prior to the programme’s launch. This proactive engagement paved the way for an incredibly diverse international investor base spanning APAC, the European Union, and Latin America.

Mr. Hussain Al Aryan, General Manager -Treasury and Investment Division, said: “The Certificate of Deposit programme is unique in terms of its structure and callable nature. The issuances offer ease of execution and product flexibility, encompassing multiple currencies, fixed-rate notes, and floating-rate notes.”

He added that the programme provides flexible investment options with maturities ranging from short-term one week instruments up to long term five year maturities. These instruments will enable the Bank to strategically optimise its balance sheet and significantly strengthen its liquidity through extensive, diversified structural funding sources.

Regulatory Approvals
Commercial Bank of Kuwait has fully complied with all regulatory requirements associated with the programme. The establishment and subsequent expansion of the Programme have been executed with full regulatory alignment:

• Programme Authorization: Authorized by the Central Bank of Kuwait on 8 July 2025.

• Programme Upsize Approval: Approved by the Central Bank of Kuwait on 14 May 2026.

Programme Participants

Mizuho International plc acted as the Arranger and Dealer for the upsized programme. CBK maintains complete continuity with its elite group of global financial partners, keeping its established dealer panel and administrative agents unchanged:

• Arranger: Mizuho International plc

• Dealers: AFS Interest B.V., DBS Bank Ltd., ING Bank N.V., Mizuho International plc, Nomura International plc, and Standard Chartered Bank.

• Principal Paying Agent, Issuing Agent, Calculation Agent and Registrar: The Bank of New York Mellon

Through this upsized U.S. $2,000,000,000 framework, Commercial Bank of Kuwait remains uniquely positioned to capture international capital market opportunities, reinforce its cross-border relationships, and support its long-term sustainable growth strategy.