Kuwait’s Burgan Gets Approval For Stake Buy In Maltese Bank

The lender has received regulatory approval to buy a 25 per cent stake in Malta’s Fimbank.

Burgan Bank said on Thursday it received regulatory approval to buy a 25 per cent stake in Malta’s Fimbank.

Burgan, the commercial banking arm of Kuwait Projects Co (KIPCO), said in October it was planning to buy the stake in the trade finance specialist for an undisclosed price.

Burgan, which also bought the Turkish arm of EFG Eurobank last year, has received approval from Maltese authorities for the Fimbank purchase, Thursday’s statement to the stock exchange said.