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23/11/2010 00:00 AST
Burgan Bank amongst the leading and the most dynamic bank in the state of Kuwait announced Sunday in a press release that United Gulf Bank (UGB) the asset management and investment banking platform of the Kuwait Projects Holding Company (KPICO) group, that having received the necessary regulatory approvals and following the conclusion of the sale of its commercial banking assets to Burgan Bank, it has now increased its shareholding in Burgan Bank to 17 percent.
UGB's strategic decision to increase its shareholding reflects the growing strength of Burgan Bank within Kuwait and the Middle East and North Africa (MENA) region.
Burgan Bank Chief Executive officer (CEO) Eduardo Eguren said, "Burgan Bank endeavors to provide value to our shareholders, whether it is through our prudent risk and investment policy or through our domestic and regional expansion plans. UGB's decision to increase its stake in Burgan Bank affirms that the bank has made progress in its local and regional growth trajectory plan. We welcome their decision and look forward to strengthening our relationship further in the future."
Al Watan
26/04/2010
United Gulf Bank (UGB) has announced that at its Board of Directors meeting held today, Mr Masaud Hayat was elected Chairman of the Board. Mr Hayat replaces Mr Faisal Al Ayyar who will remain as a me
AME Info
29/03/2010
UGB - United Gulf Bank - has announced the appointment of a new Chief Executive Officer. David J. Rhodes - formerly Group Head of Financial Services at UGB's parent company KIPCO - will join UGB as f
AME Info
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24/06/2025
Integrating digital technologies is set to increase Saudi Arabia's industrial productivity by 15 to 25 percent, according to Aramco President and CEO Amin Nasser.
Speaking during the Saudi
Arab News
24/06/2025
Consistent with its commitment to advancing financial literacy across all segments of society, Gulf Bank continues to support the "Diraya" awareness campaign. The bank actively shares educational and
Kuwait Times
24/06/2025
As part of its ambitious expansion strategy and to strengthen its presence in leading global financial hubs, National Investments Company (NIC) has announced the launch of its first regional office i
Khaleej Times
24/06/2025
Salalah Mills Company in the Dhofar Governorate has announced the signing of an agreement to import 110,000 tonnes of Russian wheat, with the shipments expected to arrive during July and August.
Times of Oman
23/06/2025
Zain participated in a roundtable discussion hosted by the global media group The Business Year, in collaboration with the Kuwait Direct Investment Promotion Authority (KDIPA). The event brought toge
Kuwait Times
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