Burgan Bank
 | |
Native name | بنك برقان |
|---|---|
| Type | Public |
| KSE:BURG | |
| ISIN | KW0EQ0100077 |
| Founded | 27 December 1975 |
| Headquarters | Kuwait City, Kuwait |
Key people | Sheikh Abdullah Nasser Al-Sabah (Chairman) Antoine Jean Daher (Group CEO) Fadel Mahmoud Abdullah (CEO) |
| Revenue |  KWD 543.46 million (2023) |
| KWD 34.49 million (2023) | |
Burgan Bank, is a Kuwaiti bank headquartered in Kuwait City. It is Kuwait's second-largest conventional bank by assets.[1] A subsidiary of Kuwait Projects Company Holding, it operates a network of 24 branches and over 100 ATMs. In 2007, Burgan Bank recorded a profit of 74.8 million Kuwaiti dinars, up 34% since the previous year, where they had a profit of 55.7 million Kuwaiti dinar.[citation needed]
History
[edit]In 2009, Burgan Bank acquired United Gulf Bank's stake in Bank of Baghdad, increasing its share to 51.8%.[2]
On 23 December 2012, Burgan Bank acquired, from Eurobank, a 70% stake in Tekfenbank, which is a Turkish bank in Cyprus. The deal was reached amid increasing interest by banks in Persian Gulf nations to expand operations in Turkey.[3]
In early 2023, Jordan Kuwait Bank acquired Burgan Bank stake in Bank of Baghdad.[4]
In December 2023, Burgan Bank obtained the approval of the Central Bank of Kuwait and appointed Fadel Mahmoud Abdullah as the new CEO.[5]
References
[edit]- ↑ "Kuwait's Burgan Bank sells $500 MLN in bonds to boost capital". Reuters. 2 July 2019.
- ↑ "Burgan Bank becomes majority shareholder in Bank of Baghdad". MEED. 1 November 2010. Archived from the original on 26 October 2020.
- ↑ Kholaif, Dahlia (23 December 2012). "Burgan Bank Concludes Purchase of Eurobank Tekfen". Bloomberg News. Retrieved 16 September 2021.
{{cite news}}: CS1 maint: deprecated archival service (link) - ↑ "Burgan Bank's Stake Sale In Bank Of Baghdad To Jordan Kuwait Bank Gets Iraq's Approval". Forbes ME. 21 September 2022.
- ↑ "Fadel Abdullah appointed as Burgan Bank's CEO - Kuwait". Kuwait Times. 10 December 2023. Retrieved 29 May 2024.
