Burgan Bank of Kuwait sells its share in Bank of Baghdad
Photo: Burgan Bank
Baghdad (IraqiNews.com) – The sale of Burgan Bank’s 51.8% interest in Bank of Baghdad to Jordan Kuwait Bank has been approved by the Central Bank of Iraq, according to Burgan Bank, Kuwait’s second-largest conventional bank by assets.
According to a filing by Burgan Bank on Boursa Kuwait, the deal’s completion is contingent upon the execution of legal papers and compliance with the requirements of the Iraq Stock Exchange.
Burgan Bank, which was founded in 1977, places a lot of emphasis on the corporate and financial institutions sectors and has a burgeoning clientele in the retail and private banking space.