Burgan Bank completes transfer of majority stake of Jordan Kuwait Bank

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About Burgan Bank
Burgan Bank is a subsidiary of KIPCO (Kuwait Projects Company). Amongst the youngest and most dynamic commercial banks in the State of Kuwait, established in 1977, the Bank has acquired a leading role in the retail, corporate and investment banking sector through innovative product offers and technologically advanced delivery channels. It has continuously improved its performance over the years by applying an expanded revenue structure, good asset quality, diversified funding sources and a strong capital base. The adoption of state-of-the-art services and ground-breaking technology has positioned it as a trendsetter in the domestic market. At present, it enjoys a wide reach through our network of 21 branches, over 100 ATMs and one of the widest drive-through ATM networks in the GCC.

The brand has been created on a foundation of real values - of trust, commitment, excellence and progression to remind us of the high standards to which we aspire. 'People come first' is the foundation on which its products and services are developed and are further augmented by its three pillars of innovative technology, staff competency and customer service. It is committed to offering an enhanced banking experience.

The Bank was recertified and is still the only bank in the GCC with ISO 9001:2000 certification in all its banking businesses. It also has to its credit the distinction of being the only bank in Kuwait to have won the JP Morgan Chase Quality Recognition Award, 10th year in succession and was also acknowledged as the 'Best Local Private Bank' in Kuwait in the Fourth Annual Euromoney Private Banking Survey 2007. Further, for two consecutive years, it was conferred the COMMERZBANK Recognition Award, for maintaining high standards of quality, efficiency and reliability while processing Euro currency transactions as well. The Bank's commitment to uphold best practices was recognized when it won the region's first Hawkamah-UAB Bank Corporate Governance Award 2007 while its marketing excellence was recognized as amongst the best in the region by the Middle East Business Achievement Awards 2007. It also received the 'Best Corporate Finance Bank Award' from Al Mazaya Holding at the latter's Third Finance Transparency Conference held earlier this year.

About Jordan Kuwait Bank

Founded in 1976 jointly by Jordanians, Kuwaitis and other Arab investors, JKB is a publicly listed company with 53 branches including two in Palestine and an international banking unit (IBU) established in Cyprus. It is today the third largest bank in Jordan. JKB is a pioneer in adapting and infusing technology in all areas of its activity and was the first bank in Jordan to offer internet-banking services, Bancassurance and chip (smart) cards. Jordan Kuwait Bank presents to its customers and the public an exclusive package of insurance programs and products in collaboration with its subsidiary Arab Orient Insurance Co. These include individual banking, corporate banking, electronic banking, correspondent banks, margin dealing, treasury operations and custodial services.