Burgan Bank (BURG) News - Mubasher Info
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09 June 11:06 AM

Burgan Bank (BURG`R)

Last update: 10:43 AM market time.
192.00
-42.00
-17.95%
Open 191.00
Previous Close 234.00
High 194.00
Low 191.00
Stock Statistics
Volume 1,218,955
Turnover 234,098.52
All data are 15 minutes late during market session

News

Photo Archive
26 December 2024 06:54 PM Two GCC banks witness 100% acquisition transaction
Mubasher: Burgan Bank has recently received the final approval from the Central Bank of Kuwait (CBK) to acquire 100% stake in United Gulf Bank (UGB), a licensed conventional wholesale bank headquartered in Bahrain. The execution of this …
Mergers and Acquisitions
The lender’s LTFC IDR has been affirmed at 'B+'
27 May 2020 01:49 PM Fitch revises Burgan Bank Turkey's outlook to negative
Mubasher: Fitch Ratings has revised the outlook on the long-term foreign-currency issuer default ratings (LTFC IDRs) of nine Turkish foreign-owned banks, including Burgan Bank Turkey, to negative from stable. The lender’s LTFC IDR has been …
Banking and Finance
The distributions will be paid on 30 April
12 April 2020 03:14 PM Burgan Bank to pay 12 fils/shr dividends for 2019
Mubasher: Burgan Bank’s general assembly has approved the previously recommended cash dividend distribution of 12 fils per share or 12% of the share’s nominal value for 2019 after deducting treasury stocks. The distributions will be due to the …
General Assembly
Burgan Bank's stake represents 129.48 million shares of Bank of Baghdad
16 March 2020 00:42 PM Burgan Bank plans to sell 52% stake in Bank of Baghdad
Mubasher: Burgan Bank said that it plans to transfer the ownership of its 51.8% stake in Bank of Baghdad to the United Gulf Holding Company (UGH), which is a sister company of the Kuwait-based bank. The stake represents nearly 129.48 million …
Mergers and Acquisitions
Burgan Bank witnessed a 3% growth in annual net income last year
7 March 2020 00:02 PM Burgan Bank plans 12 fils/shr dividends
Mubasher: Burgan Bank achieved a 3% year-on-year (YoY) growth in net income to KWD 84.7 million for 2019, as shown by last year’s annual financial results, thereby generating shareholders returns of 10%. Annual revenues registered KWD 248.2 …
Financial Results
short-term foreign currency rating (ST FCR) were affirmed at 'A1'.
9 February 2020 04:40 PM CI upgrades Burgan Bank’s ratings
Mubasher: Capital Intelligence (CI) raised the long-term foreign currency rating (LT FCR) of Burgan Bank to ‘A+’ from ‘A’, with a 'Stable' outlook, and affirmed the short-term foreign currency rating (ST FCR) at 'A1'.      The agency also upgraded …
Banking and Finance
Burgan Bank expects the deal to improve the quality of its assets
28 January 2020 09:51 AM Burgan Bank gets approval for selling stake in Bank of Baghdad
Mubasher: The Central Bank of Iraq (CBI) has approved the sale of Burgan Bank’s 51.8% stake in Bank of Baghdad to United Gulf Holding Company (UGH), a sister company of the Kuwait-based bank and another subsidiary of the Kuwait Projects Holding …
Mergers and Acquisitions
The transaction may have a one-time negative impact on the net income
5 January 2020 10:15 AM Burgan Bank exits entire stake in Bank of Baghdad
Mubasher: Burgan Bank has sold its full stake in Bank of Baghdad, representing 51.8%, to its sister company, United Gulf Holding company. The deal reinforces Burgan Bank’s strategy to improve returns on risks for the bank’s shareholders, according …
Law
Burgan Bank's profits declined by 4.9% in 9M-19
30 December 2019 11:25 AM Burgan Bank likely to gain KWD 11m from selling HQ
Mubasher: Burgan Bank disclosed that it expects a net profit ranging from KWD 10 million to KWD 11 million from the sale of its headquarters building, located in Burgan Tower Al Sharq. The bank referred that the net profit will be realised when …
Company News
The transaction will not have any material impact on Burgan Bank
29 December 2019 10:34 AM Burgan Bank sells HQ at KWD 19.5m
Mubasher: Burgan Bank on Sunday announced that it has sold its headquarters building, located in Burgan Tower Al Sharq, to the United Investment Group (UIG).   The deal is valued at KWD 19.45 million, according to a bourse filing on Sunday. The …
Company News
The bank’s outlook is stable
13 November 2019 10:42 AM CI Ratings affirms Burgan Bank’s foreign currency ratings
Mubasher: Capital Intelligence Ratings (CI Ratings) has affirmed the long-term and short-term foreign currency ratings of Burgan Bank at 'A' and 'A1', respectively. The rating agency set the Boursa Kuwait-listed bank’s outlook at stable, according …
Banking and Finance
Photo Archive
5 November 2019 02:05 PM KPC obtains KWD 350m financing from local banks
Mubasher: The National Bank of Kuwait (NBK) and the Kuwait Finance House (KFH) have jointly managed and issued a KWD 350 million ($1.2 billion) financing to the Kuwait Petroleum Corporation (KPC). The two banks were chosen by KPC to manage …
Sukuk and Islamic Finance
Burgan Bank's profits rose by 10.7% in Q3-19
21 October 2019 00:04 PM Burgan Bank’s profits rise to KWD 22.7m in Q3-19
Mubasher: The financial statements of Burgan Bank showed a 10.7% year-on-year rise in profits during the third quarter of 2019. The profits of the period soared to KWD 22.69 million ($75 million) in Q3-19 when compared to KWD 20.49 million ($67.7 …
Corporate Actions
The agency affirmed the IDR of one bank at ‘B’
17 October 2019 00:04 PM Fitch affirms Burgan Bank Turkey’s IDR at ‘B+’
Mubasher: Fitch Ratings has affirmed the long-term Issuer Default Rating (IDR) of Burgan Bank Turkey at 'B+', with a ‘Negative’ outlook, among other banks working in Turkey. The rating agency has also affirmed the viability rating (VR) of five …
Ratings
Burgan’s asset quality remains stable
1 October 2019 05:13 PM Fitch Ratings affirms Burgan Bank’s IDR at 'A+'
Mubasher: Fitch Ratings has affirmed Burgan Bank’s Long-Term Issuer Default Rating (IDR) at 'A+' with a stable outlook, according to a statement. The bank’s Viability Rating (VR) was affirmed at 'bb'. Burgan’s asset quality remains stable, while …
Ratings
The bank's revenues amounted to KWD 116.3m
24 July 2019 10:46 PM Burgan Bank’s profit reaches KWD 44.8m in H1-19
Mubasher: Burgan Bank Group’s net profit went down to KWD 44.8 million ($147.5 million) in the first six months of 2019, compared to KWD 50.5 million ($166.3 million) in the year-ago period. The bank's revenues amounted to KWD 116.3 million ($382 …
Banking and Finance
The Kuwait bank bought back $230.16m securities
3 July 2019 05:27 PM Burgan Bank issues $500m Tier1 securities
Mubasher: Burgan Bank on Wednesday issued a $500 million perpetual Tier1 capital securities with a 5.75% yield. The Kuwait bank also bought back $230.158 million securities of the previously issued $500 million perpetual Tier1 securities, issued …
Bonds
Securities will help the bank manage its capital
25 June 2019 08:22 PM Kuwaiti C. Bank approves Burgan Bank’s $500m securities
Mubasher: Burgan Bank has received Kuwait’s Central Bank of Kuwait (CBK) approval for the issuance of Perpetual Tier 1 (AT1) capital securities at up to $500 million.   The issuance of the perpetual securities will help the bank manage its capital …
Bonds
Issuance proceeds will be used for general corporate purposes
13 June 2019 04:26 PM CMA approves Burgan Bank’s $500m AT1 capital securities
Mubasher: Burgan Bank has received Kuwait’s Capital Markets Authority’s (CMA) approval to issue Additional Tier 1 (AT1) capital securities at up to $500 million.   The Kuwaiti lender will use proceeds from the issuance for general corporate …
Markets Regulations
The lender is not planning to expand abroad in the meantime
9 June 2019 11:54 AM Burgan Bank to renew $500m bonds in September – Chairman
Mubasher: Burgan Bank will renew $500 million perpetual bonds issued five years ago next September, the lender’s chairman said. The bank will use the proceeds of its next bond issue in renewing the $500 billion bond issue carried out in five years …
Company News
Burgan Bank's BCA is at ba2
29 May 2019 02:14 PM Burgan Bank: Moody’s affirms rating, ‘Stable’ outlook
Mubasher: Burgan Bank said in a bourse disclosure on Wednesday that Moody’s Investors Service has affirmed the long- and short-term deposit rating at ‘A3’ and ‘Prime-2’, respectively. Moody’s has also affirmed the bank’s ‘Stable’ Outlook, which …
Banking and Finance
The subscription in the lender’s perpetual bonds will be limited to professional clients
14 May 2019 02:22 PM CMA greenlights Burgan Bank’s perpetual bond issue
Mubasher: Burgan Bank has received Kuwait’s Capital Markets Authority’s (CMA) approval to issue perpetual bonds at up to $500 million on 9 May. The subscription in the lender’s perpetual bonds will be limited to professional clients, according to …
Companies Investments
Burgan Bank’s profits increased by 26.6% to KWD 82.6 million in 2018
8 May 2019 01:26 PM S&P affirms Burgan Bank’s credit rating at BBB+
Mubasher: Standard & Poor's (S&P) affirmed Burgan Bank’s long-term credit rating at BBB+, with a stable outlook. The rating reflects the lender’s excellent banking services for companies and its capability to generate revenue, according to a …
Ratings
KIPCO owns a 50.04% stake in Burgan Bank
7 May 2019 09:31 AM KIPCO looks at merger options for Burgan Bank
Mubasher: Kuwait Projects Holding (KIPCO) is looking at merger options for Burgan Bank, KIPCO’s vice chairman Faisal Al Ayyar told Al Arabiya. He added that KIPCO, which owns a 50.04% stake in Burgan Bank, has not commenced any negotiations for …
Mergers and Acquisitions
URE will finish repaying the loan on 15 April 2020
28 April 2019 10:59 AM United Real Estate amends loan deal with Burgan Bank
Mubasher: Kuwait-based United Real Estate (URC) has renewed and amended a loan agreement with Burgan Bank. After amending the deal, the facility's value reached KWD 59.5 million, according to a bourse filing. The contract includes KWD 5 million as …
Companies Investments