Burgan Bank Explained

Native Name:بنك برقان
Type:Public
Traded As:KSE

BURG

Isin:KW0EQ0100077
Founded:27 December 1975
Hq Location: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)
Net Income: KWD 34.49 million (2023)

Burgan Bank, established, is a Kuwaiti bank headquartered in Kuwait City. It is Kuwait's second-largest conventional bank by assets.[1] It is a subsidiary of Kuwait Projects Company Holding and 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.

In December 2023, Burgan Bank obtained the approval of the Central Bank of Kuwait and appointed Fadel Mahmoud Abdullah as the new CEO.[2]

On 23 December 2012, Burgan Bank acquired, from Eurobank, a 70% stake in Tekfenbank, which is a Turkish bank in Cyprus.[3]

External links

Notes and References

  1. News: Kuwait's Burgan Bank sells $500 MLN in bonds to boost capital . Reuters . 2 July 2019 . 16 September 2021.
  2. Web site: 2023-12-10 . Fadel Abdullah appointed as Burgan Bank’s CEO - Kuwait . 2024-05-29 . kuwaittimes . en.
  3. News: Kholaif . Dahlia . Burgan Bank Concludes Purchase of Eurobank Tekfen . . 23 December 2012 . 16 September 2021 . 15 July 2014 . https://archive.today/20140715131347/http://www.bloomberg.com/news/2012-12-23/burgen-bank-concludes-purchase-of-turkey-s-eurobank-tekfen.html . live .