Arab Today, arab today burgan bank group posts kuwait dinar 487m in 9month profits
Last Updated : GMT 23:49:03
Arab Today, arab today
Arab Today, arab today

Burgan Bank Group posts Kuwait dinar 48.7m in 9-month profits

Arab Today, arab today

Arab Today, arab today Burgan Bank Group posts Kuwait dinar 48.7m in 9-month profits

Burgan Bank Group
Kuwait - KUNA

Burgan Bank Group announced here on Sunday its net profits of KD 48.7 million in the first nine months of 2014 compared to the same period last year.
Operating income surged to KD 200.8 million while operating profits before provisions soared to register KD 112.6 million. Net income for the 9 months surged by 177 percent reaching KD 48.7 million, the group said.
In the third quarter and compared to the same period last year, operating income grew 17 percent reaching KD 70.3 million while operating profits before provisions grew by 16 percent reaching KD 39.9 million.
Majed Essa Al Ajeel, Chairman of Burgan Bank Group said: "Once again, Burgan Bank Group continues to deliver solid growth in all business lines, in all markets, thanks to the prudent execution of the group strategy." "Our Balance sheet remains strong with a continuous enhancement of the asset quality, Our Capital adequacy ratio stands at 18.6 percent under Basel 2.We are in the process of adjusting the capital for Basel 3, we started with the introduction of an innovative AT1 instrument which was launched successfully and oversubscribed in Q3 and we will further increase the capital through rights issuance once we receive the required regulatory approvals," Al-Ajeel added.
"Our leading financial indicators continue to point to the right direction, The international operations contributes to 51 percent to the group's revenue. Once again, we are optimistic about our performance going forward," he said.
"On behalf of the board, I take this opportunity to thank our customers and shareholders for their confidence in our capabilities. I would also like to thank our executive management team for their leadership and the excellent execution of the corporate strategy, and to our staff for their continued support and commitment," he noted.
The consolidated financials encompass the results of the Group's operations in Kuwait, and its share from its regional subsidiaries, namely Jordan Kuwait Bank, Gulf Bank Algeria, Burgan Bank - Turkey, Bank of Baghdad, Tunis International Bank, in which Burgan Bank owns a majority stake. Burgan Bank Group has one of the largest regional branch networks with more than 233branches across Kuwait, Turkey, Jordan, Algeria, Iraq, Tunis, Lebanon and Palestine, he concluded.

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today burgan bank group posts kuwait dinar 487m in 9month profits Arab Today, arab today burgan bank group posts kuwait dinar 487m in 9month profits

 



Arab Today, arab today

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today burgan bank group posts kuwait dinar 487m in 9month profits Arab Today, arab today burgan bank group posts kuwait dinar 487m in 9month profits

 



Arab Today, arab today Designer prepared new set of ornaments

GMT 02:45 2017 Wednesday ,28 June

Designer prepared new set of ornaments
Arab Today, arab today France defies terrorism through tourism

GMT 15:18 2017 Saturday ,20 May

France defies terrorism through tourism
Arab Today, arab today Mai Al-Jeddawi presents décor ideas for Ramadan
Arab Today, arab today
Arab Today, arab today

GMT 08:23 2017 Saturday ,24 June

Actress Feryal Yussef received new drama offers

GMT 09:49 2017 Tuesday ,02 May

Girl barred from Malaysia chess competition

GMT 08:48 2017 Saturday ,06 May

Climate science: Bad news gets worse

GMT 16:25 2017 Sunday ,04 June

“Suhoor” is basic meal for fasting

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons

GMT 11:09 2017 Sunday ,25 June

HUAWEI P10 the ‘guru’ of portrait shots

GMT 17:59 2017 Monday ,12 June

Designer Rania Adel reveals her new collection
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday