Kuwait’s KIPCO Says Receives Approval For Stake Increase In Burgan Bank

A bourse filing by KIPCO added that its direct and indirect stake in Kuwait’s Burgan Bank currently stands at 57.94 per cent.



Kuwait Projects Company (KIPCO) said on Thursday it received approval from the country’s central bank to increase its stake in Burgan Bank by five per cent.

A bourse filing by KIPCO added that its direct and indirect stake in the Kuwait’s third-largest lender by assets currently stands at 57.94 per cent.

The statement did not indicate when the stake increase would be completed.