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.
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 Persian Gulf nations to expand operations in Turkey.[3]
External links
References
- Kuwait's Burgan Bank sells $500 MLN in bonds to boost capital Reuters, 2 July 2019, retrieved 16 September 2021^
- Fadel Abdullah appointed as Burgan Bank's CEO - Kuwait kuwaittimes, 2023-12-10, retrieved 2024-05-29^
- Dahlia Kholaif. Burgan Bank Concludes Purchase of Eurobank Tekfen Bloomberg News, 23 December 2012, retrieved 16 September 2021^