This bank, which is already the third-biggest Kuwaiti lender by assets, saw phenomenal asset growth of more than 30 per cent in 2012.
It also completed the purchase of 99.3 per cent of Istanbul-based Eurobank Tekfen AS. As part of the deal it also acquired a loan portfolio from a subsidiary of the previous owner, Greece’s Eurobank Ergasias SA.
Burgan Bank also plans to raise KD100 million ($354 million) from a bond sale this year to boost capital as it undertakes a massive expansion plan.