UGB becomes Burgan Bank strategic shareholder with 17%

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

News

United Gulf Bank appoints new Chairman

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

United Gulf Bank appoints new CEO

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

Most Viewed Companies

Ticker Price Volume
SABIC 114.77 5,915,941

Top Related Companies

Ticker Price Change
GLOBAL 0.00 0.00 (0.00%)
MARIN 0.00 0.00 (0.00%)
AINV 0.00 0.00 (0.00%)
TII 0.00 0.00 (0.00%)
IIC 0.00 0.00 (0.00%)

Recent News

SABIC-MCC joint venture starts output

05/04/2018

SABIC announced the successful completion of the pilot operation of the Methyl Methacrylate Monomer (MMA) and Poly Methyl Methacrylate (PMMA) plants and the commencement of commercial operations.

Saudi Gazette

S&P affirms QIB rating at A-

05/04/2018

Standard & Poor’s (S&P) has affirmed QIB’s Issuer Credit Rating at A-, Qatar’s leading Islamic bank has said in a release. According to S&P, the major contributing factors strengthening QIB’s rating

Gulf Times

Qatar National Bank seeks growth in Southeast Asia

05/04/2018

Qatar National Bank (QNB) aims to increase its profit by 5-8 percent this year and loans and investments by 10-12 percent, helped by expansion into faster-growing Southeast Asia markets, its CEO told

The Peninsula

Doha Bank’s third Indian branch opens today

04/04/2018

Doha Bank has announced the official inauguration of its Chennai Branch, in the southern Indian state, will be held today. This is Doha Bank’s third city in India after its successful establishment o

The Peninsula

SHUAA to act as liquidity provider to Bank of Sharjah

04/04/2018

Bank of Sharjah said it has engaged SHUAA Capital International as liquidity providers for its shares and will commence the activity from April 4. SHUAA Capital International shall not hold more than

Gulf News

logo

Financial Information Co.

P.O. Box 69410, Riyadh 11547, Saudi Arabia

GCC Markets

Mutual Funds

News

Investment Tools

Sector News

Screeners

Indices & Commodities

Downloads

Copyright ©2001 - 2024, Financial Information Co. All Rights Reserved.

Terms of Services | Privacy Policy | Advertise with us | Contact Us | Sitemap