Journal of Kuwait "Burgan" earns 50.5 million dinars in the first half and growth of 30%

Al Ajeel says it is fully trusted in Burgan's operational capabilities. "Our businesses contribute 42%, and our strategy is to diversify our business through risk diversification and improve our revenue structure."

The Burgan Bank Group announces its half-year results for fiscal year 2018 Net of 50.5 million dinars ($ 168 million) Growth of 30% over the same period in 2017, recording 30.1 million dinars ($ 100 million) in the second quarter, up 43% from the second quarter of 2017.

Earnings for the period ended June 30, 2018

First half earnings per share increased by 34% over last year to 20 yrs and the group achieved a 14.7% return on tangible equity for the same period.

During the first half of 2018 Compared to the same period, operating profit increased by 13% to reach 139.2 million dinars ($ 462 million) The quality of assets is significantly improved compared to nonperforming loans compared to the same period of 2017. The ratio of nonperforming loans to total loans decreased from 4.3% to 2.8%, while coverage reached 168.5%. Majid Al Ajeel, President of Burgan Bank Group, said: "We are very pleased with the overall performance of the Burgan Bank Group, as our strategy continues to generate strong performance through a strong business model and a strong performance. Strict implementation of our objectives "

" We are confident in our operational capabilities The Bank continues through our banking arm And our international activities contribute 42%, which is why we are developing our diversification strategy across the world. risk distribution, by strengthening our revenue structure and also benefiting from a strong presence in international markets at relatively rapid growth rates.We also have a business sector focused on selective growth and judicious. "

" On behalf of the Board of Directors, I take this opportunity to thank our clients and our actio their confidence in our abilities. I would also like to thank the management team for their wise leadership, dedication and excellent implementation of the strategy, and in particular our staff for their continued support and commitment. "

" The consolidated financial statements include the results of the Group's activities in Kuwait and its share in its regional banks and subsidiaries – Burgan Bank – Turkey, Gulf Bank of Algeria, Bank of Baghdad and Tunis International Bank. Burgan Bank Group has one of the largest regional branch networks with more than 169 branches in Kuwait, Turkey, Algeria, Iraq, Tunisia, Lebanon and a representative office in Dubai – UAE. "