Financial and Banking News


Burgan Takes 28.5% of BMB

Kuwait's youngest commercial bank, Burgan Bank, in which the government has majority control, has purchased a 28.5% stake in one of Manama's newer OBUs, Bahrain Middle East Bank (BMB), through the purchase of fresh equity. As a result of this deal the stake of the founder shareholders, who include a number of prominent Kuwaiti personalities, has been diluted from 82.5% to 59%, while that of the general...