In a significant development, Kuwait’s Burgan Bank has obtained the central bank’s nod to proceed with the acquisition of Bahrain’s United Gulf Bank (UGB). The market disclosure indicates that the acquisition is contingent upon further studies and final approvals from authorities in Kuwait and Bahrain. Both Burgan Bank and UGB are subsidiaries of the investment firm Kuwait Projects Co (KIPCO). This aligns with KIPCO’s strategic ambitions in the financial sector, reflecting its push for regional consolidation and expansion.
Banking, Investment,Kuwait, Bahrain
https://www.zawya.com/en/markets/equities/kuwaits-burgan-bank-gets-central-bank-approval-for-acquisition-of-bahrains-ugb-rawjmgd0