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
Kuwait-based Burgan Bank has announced the launch of the ‘Driven from Within’ – the certified Leadership program for the bank’s middle-managers and supervisors in collaboration with the American University of Kuwait.
Burgan Bank Group has reported a net profit of KD17.1 million ($60.76 million) for the first quarter of 2014 as against KD15.6 million reported for the first quarter in 2013, reflecting a growth of 10 per cent.
Operating income su
Kuwait's Burgan Bank is said to have hired HSBC, Kamco and NBK Capital for a potential bond deal, according to bankers.
It is not clear at this stage if the planned deal will be in US dollars or Kuwaiti dinars, nor whether it
Kuwait's Burgan Bank wants to raise capital this year in order to comply with Basel III regulations and fuel growth, the lender's chief executive said on Monday.
"We are discussing this with the central bank," CE
Burgan Bank, is the youngest commercial Bank and third largest by assets in Kuwait, will hold its Annual General Assembly meeting for shareholders tomorrow (March 31) at the Chairman’s Club – Burgan Bank Tower.
Kuwait's Burgan Bank plans to raise up to 150 million Kuwaiti dinars ($531 million) through a conventional bond early next year to fund its expansion in the Mena region, its chairman said on Monday.
"We will appoint banks