Mubasher: Burgan Bank announced that its extraordinary general meeting (EGM) approved the board’s recommendation to increase the authorised capital to KWD 400 million from KWD 250 million, according to a press release on Sunday.
This capital raise will allow Burgan Bank to use it in the future when needed to preserve the regulatory standards, the chairman of the bank Majed Easa Ahmed Al Ajeel said.
At the stock level, Burgan bank closed Sunday’s session 0.7% lower at 282 fils.
