Burgan Bank gets top brand ranking
Kuwait, February 10, 2013
Burgan Bank, the youngest commercial bank in Kuwait and the country's third largest by assets, received a major boost after Brand Finance, the international brand valuation company, re-affirmed its AA brand rating with a positive outlook.
Burgan said it has become the only bank in Kuwait that witnessed an increase in its total brand value, which came at $199 million compared to $175 million last year.
The brand ratings and values were recently published in “The Banker” magazine, a Financial Times publication, where Brand Finance has featured the world’s most valuable 500 banking brands.
Bashir Jaber, the assistant general manager (Corporate Communications) said: "We are delighted with the recent ratings published by Brand Finance, and ranking at the top of the banking brand ratings in Kuwait. Burgan Bank is the only conventional bank in Kuwait and one of only 5 banks in Middle East that has achieved an absolute rise in its brand value."
"Our brand model has been an essential component of our corporate strategy, one which aims at 1) increasing market share with profitability in the core market 2) achieving scale, capabilities and footprint through strategic acquisitions," he added.
Jaber said Burgan enjoys an award winning strong branding platform that reflects its values of trust as well as partnership to deliver international best practices throughout its operations.
In 2012, Burgan Bank won the “Best Bank Branding” award by the Banker Middle East
"Going forward, Burgan’s performance is on the right trajectory. We remain focused on further developing the bank’s brand in Kuwait, and across the markets we operate in," he remarked.
"Recently, Burgan announced the expansion of its regional brand platform to Turkey following its recent acquisition of Eurobank Tekfen, where as of January 28, is operating under the name of Burgan Bank – Turkey,” he added.-TradeArabia News Service
More Finance & Capital Market Stories
- Kuwait budget surplus may hit $52 billion
- Peru road shows target Mideast markets
- EFG Hermes Q1 net profit up 27pc
- ADCB sells $300m of subordinated bonds
- Standard Chartered’s credit card wins award
- Emirates NBD seals Dubai tower deal
- Dar Al Arkan raises $450m from sukuk sale
- Barclays advises on equities over bonds
- World Bank boosts funds for Syria refugees
- Doha Bank sets $1.5bn to fund Emirati SMEs