Mubasher: Burgan Bank plans to raise its capital by KWD 60 million, CEO of the bank Eduardo Eguren said, according to a recent bourse statement.

This capital hike will be considered in line with open markets, the CEO said, adding that the stock value is currently very low.

Eguren added that Kuwait's third-largest lender by assets is expected to increase the capital within a value ranging from KWD 60 million to KWD 70 million based on the equity’s value.

Raising the bank’s current capital will be suitable for the current shareholders, Eguren said, noting that the Boursa Kuwait-listed lender is keen on the shareholders’ equity rights in the current period.