Burgan Bank finishes capital increase process
Burgan Bank successfully increased its capital by covering 133.57% of the offered shares, with a total issuance of 50 million Kuwaiti dinars through a rights issue. The bank subscribed to 277.8 million shares at an issue price of 0.180 dinars per share, resulting in an increase in the total number of issued shares from 3.996.4 million to 4.274.1 million, and a paid-up capital increase of 27.8 million dinars. This increase is expected to enhance the bank’s ability to execute its strategies, such as strengthening its operations and advancing digital transformation, while raising its capital adequacy ratio by approximately 60 basis points, and providing greater flexibility to achieve sustainable growth. Officials reaffirmed the shareholders' confidence and emphasized the importance of improving the financial position and delivering long-term returns.
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