Kuwait - Mubasher: The data of Burgan Bank has showed a growth in the bank’s total assets in Kuwait, Middle East and Africa (MENA), as well as Turkey by 284.7% between 2005 and 2016.
The bank’s assets totalled KWD 7.27 billion by the end of last year, compared to KWD 1.89 billion in 2005.
During the same period, clients’ loans surged 435% and amounted to KWD 4.28 billion up from KWD 800 million.
As for the bank’s operational income, it registered a rise of 148.8% to KWD 120.9 million in 2016 compared to KWD 48.6 million in 2005.
The shareholders of Burgan approved distributing cash dividends and bonus shares for fiscal year 2016, according to the bank’s statement to Boursa Kuwait on Wednesday.
The bank will pay 5% cash dividend or 5 fils per share, plus 5% bonus shares.
During FY16, Burgan Bank achieved a growth of 11.5% in profits to KWD 68 million compared to KWD 61 million in the year before.
