KIPCO reaffirms commitment to Burgan Bank and its future growth
‘Islamic banking window through Burgan Bank Bahrain & expanded wealth management offering strengthen Burgan’s growth opportunities in the GCC’ says Group CEO
KIPCO – Kuwait Projects Company (Holding) – has reaffirmed its commitment to Burgan Bank and its confidence in the bank’s long-term growth prospects, as Burgan Bank proceeds with its capital increase through a rights issue of up to KD 50 million.
As a long-standing strategic shareholder, KIPCO views the capital increase as strengthening Burgan Bank’s capital position and supporting the execution of its strategy, amid growth opportunities in Kuwait and across the GCC.
Burgan Bank’s rights issue, which opened for subscription on 14 August and closes on 14 September 2026, comprises 277,777,777 new ordinary shares at an issue price of 180 fils per share. The transaction is expected to generate proceeds of up to KD 50 million, further strengthening the bank’s capital base and financial flexibility.
KIPCO believes Burgan Bank is well positioned for its next phase, supported by the strength of its core operations in Kuwait and opportunities arising from the Kuwaiti government’s economic and financial reforms, including legislation related to real estate financing, which would open new opportunities for the banking sector.
Burgan Bank’s acquisition in 2025 of Burgan Bank Bahrain, formerly United Gulf Bank, has also strengthened its presence in the region and broadened its offering. Burgan Bank Bahrain provides corporate and institutional banking services under a conventional banking license, alongside an Islamic banking window that provides additional opportunities in Islamic banking and financing.
The acquisition also brought Kamco Invest within the Burgan Bank Group, adding its expertise in wealth management, asset management and investment banking, and enabling a broader range of wealth management and investment products and services to be offered to Burgan Bank clients
Sheikha Dana Naser Sabah Al Ahmad Al Sabah, KIPCO’s Group Chief Executive Officer, said:
“Burgan Bank has long been a core investment within the KIPCO Group, and our commitment to the capital increase reflects our confidence in the bank, its management and its strategy. We see promising opportunities for the bank in Kuwait and the region, supported by the strength of its core operations and the economic and legislative developments taking place in Kuwait.”
She added:
“Burgan Bank Bahrain represents an important addition to the Group’s operations, providing a presence in the Bahraini market and an Islamic banking window. The addition of Kamco Invest also enables the bank to expand its wealth management and investment offering and provide a broader range of products to its clients. We see the integration of these capabilities as an opportunity to deepen client relationships, diversify revenue streams and support sustainable growth. The capital increase supports this stage of Burgan Bank’s development. We are confident in the bank’s ability to capitalize on opportunities in Kuwait and the GCC and translate its investments into stronger performance and sustainable long-term value.”
KIPCO believes that the strength of Burgan Bank’s operations in Kuwait, together with its presence in Bahrain and capabilities across Islamic banking, wealth management and investment, in addition to its established presence in Algeria, Tunisia and Turkey, provide a strong foundation to expand its offering, deepen client relationships and capitalize on growth opportunities across the region.
