Burgan Bank expands brand across Turkey
Kuwait, January 28, 2013
Kuwait’s Burgan Bank Group has extended its regional brand platform to Turkey following its recent acquisition Eurobank Tekfen, which will now operate under the name of Burgan Bank – Turkey.
Its subsidiaries EFG Istanbul Equities and EFG Leasing will be branded as Burgan Securities and Burgan Leasing, respectively.
Burgan Bank – Turkey is a continuation of the current strong branding platform that Burgan Bank enjoys, and one which echoes its values of trust as well as partnership to deliver international best practices throughout its operations.
Eduardo Eguren, chief executive officer of Burgan Bank Group said: “Expanding our brand into Turkey marks a key milestone in Burgan Bank’s continued efforts to building a strong regional banking franchise and, to ultimately be able to provide customers with sound financial solutions across our network of subsidiaries in the Mena region.
“The Burgan Bank brand is an award winning one, and extending it is only a natural part of our expansion strategy which aims at building and acquiring scale, capabilities and footprint.”
Mehmet Somnez, chief executive officer of Burgan Bank – Turkey said: “Burgan Bank – Turkey is now a fully owned subsidiary of Kuwait based Burgan Bank Group. The bank is backed by a clear cut strategy that focuses on the upside geo-economic growth potential Turkey provides, along with the benefits of the bank's wider group synergies across Jordan, Iraq, Tunisia, Algeria and Lebanon.”
Burgan Bank has four majority owned subsidiaries, which include Gulf Bank Algeria - AGB (Algeria), Bank of Baghdad - BOB (Iraq & Lebanon), Jordan Kuwait Bank - JKB (Jordan) Tunis International Bank – TIB (Tunisia), and fully owned subsidiary recently acquired Burgan Bank – Turkey, (collectively known as the “Burgan Bank Group”). – TradeArabia News Service