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Burgan Bank accounts for 14% of Kuwaiti loans' market share

Burgan Bank accounts for 14% of Kuwaiti loans' market share
BURG
BURG
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Kuwait's Burgan Bank loans and deposits grew by 20% and 8.5% year on year in 2015, said Majed Essa AL Adel, the bank's Chairman.

The group managed to consistently grow, registering a 13% growth in underlying revenues in 9 months comparison year on year, added AL Ajeel according to an official statement.

The bank's market position has also improved with a high operating performance against peers which translated into an increased market share in Kuwait and standing at 14% in loans and deposits, 13% in revenues, and 17% in net income, noted AL Ajeel.

Elaborated, the lender's chief said that the bank's international operations now contribute to 51% of group’s revenue as a result of the continuous diversification to fast growing markets.

Worth mentioning, the Kuwaiti lender, has recently opted for an innovative capital optimization plan that yielded more than KWD300 million in proceeds

Burgan Bank Group continues to emerge in the international financial arena as a recognizable and credible Kuwaiti-based entity with presence in 7 countries across Kuwait, Turkey, Jordan, Algeria, Iraq, Tunis, Lebanon and Palestine through more than 233 branches. Burgan Bank is now a Regional group.