Kuwait's youngest lender Burgan Bank said it has successfully closed its KD100 million ($334 million) Tier 2 capital issuance.
The issuance has both a fixed rate and a floating rate tranche with the fixed rate coupon at
Burgan Bank, Kuwait's third-largest lender by assets, has picked two arrangers for a potential KD100 million ($329.4 million) bond, for which marketing to investors could start as soon as this week, sources aware of the matter said.
The Kuwait Projects Company (Kipco) has purchased a 51 per cent stake in Jordan Kuwait Bank (JKB) from Burgan Bank, the bank announced earlier today.
The purchase is part of a series of transactions by Burgan B
Kuwait's Burgan Bank has obtained approval to issue a bond of no more than 100 million dinars ($329.61 million), the lender said on Wednesday.
The bank said in a bourse statement that the bond would be offered to the public fo
Kuwait’s Burgan Bank Group has reported net income of KD37.4 million ($122.6 million)for the first half (H1) of the year reflecting a 12.3 per cent growth from the same period in 2014.
Operating income climbed to reach KD144
Burgan Bank, a leading commercial bank by assets in Kuwait, said it has received the ‘Quality Recognition Award’ for the year 2014 from JP Morgan.
The award acknowledged the bank’s consistent, high quality perfor
Burgan Bank, Kuwait's third-largest lender by assets, will consider expanding in the UAE, Saudi Arabia and Egypt as it raises the share of international operations in its business, its chief executive said.
Eduardo Eguren said
Burgan Bank, Kuwait's third-largest lender by assets, reported a 424 per cent rise in fourth-quarter net profit on Tuesday.
Burgan, a unit of Kuwait Projects Co (Kipco), made a net profit of KD13.1 million ($44.3 million) in t
Burgan Bank Group has posted a net income of KD48.7 million ($167.5 million) for the first nine months of the year, reflecting an increase of 177 per cent over the corresponding period of 2013.
Operating income surged to KD200.8mi
Kuwait Projects Company (Kipco) said it received approval from the country's central bank to increase its stake in Burgan Bank by 5 per cent.
A bourse filing by Kipco added that its direct and indirect stake in the Kuwait's thir