Burgan Bank

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Burgan Bank
Native name
بنك برقان
Company type Public
KSE:BURG
ISIN KW0EQ0100077
Founded27 December 1975
HeadquartersKuwait City, Kuwait
Key people
Sheikh Abdullah Nasser Al-Sabah (Chairman) Antoine Jean Daher (Group CEO) Fadel Mahmoud Abdullah (CEO)
RevenueIncrease2.svg KWD 543.46 million (2023)
Increase2.svg KWD 34.49 million (2023)

Burgan Bank, established 27 December 1975, 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 ]

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. The deal was reached amid increasing interest by banks in Arabian Gulf nations to expand operations in Turkey. [3]

References

  1. ↑ "Kuwait's Burgan Bank sells $500 MLN in bonds to boost capital". Reuters. 2 July 2019. Retrieved 16 September 2021.
  2. ↑ "Fadel Abdullah appointed as Burgan Bank's CEO - Kuwait". kuwaittimes. 10 December 2023. Retrieved 29 May 2024.
  3. ↑ Kholaif, Dahlia (23 December 2012). "Burgan Bank Concludes Purchase of Eurobank Tekfen". Bloomberg News . Archived from the original on 15 July 2014. Retrieved 16 September 2021.
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