Burgan Bank said in a disclosure on the Kuwait Stock Exchange website that the acquisition process is conditional on completing the necessary studies and obtaining the necessary approvals from the regulatory authorities in both countries.
Burgan Bank, headquartered in Kuwait, was established in 1977 and has several subsidiaries including Burgan Bank Turkey, Gulf Bank Algeria (Algeria), and Tunis International Bank (Tunisia). Burgan Bank also has a presence in the UAE through its representative office, Burgan Financial Services Limited.
It is worth noting that Burgan Bank is a majority-owned subsidiary of Kuwait Projects Company Holding (KIPCO).
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