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Established in 2006 as a Community of Reality

Welcome to the Neno's Place!

Neno's Place Established in 2006 as a Community of Reality


Neno

I can be reached by phone or text 8am-7pm cst 972-768-9772 or, once joining the board I can be reached by a (PM) Private Message.

Established in 2006 as a Community of Reality

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Established in 2006 as a Community of Reality

Many Topics Including The Oldest Dinar Community. Copyright © 2006-2020


    Burgan Bank of Kuwait sells its stake in the Bank of Baghdad

    Rocky
    Rocky
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    Burgan Bank of Kuwait sells its stake in the Bank of Baghdad Empty Burgan Bank of Kuwait sells its stake in the Bank of Baghdad

    Post by Rocky Sun 05 Jan 2020, 7:08 am

    Burgan Bank of Kuwait sells its stake in the Bank of Baghdad
    [You must be registered and logged in to see this image.]
    A branch of the Bank of Baghdad
     January 05, 2020 09:06 AM
    [You must be registered and logged in to see this link.]Burgan
    BURG



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    [You must be registered and logged in to see this link.]Baghdad
    BBOB



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    Kuwait - Mubasher: [You must be registered and logged in to see this link.]Burgan Bank announced that it has entered into an agreement to sell the bank’s 51.8 percent ownership interest in [You must be registered and logged in to see this link.]Baghdad Bank to United Gulf Holding Company (an associate company ).
    He said , " Burgan" in a statement to the Kuwait Stock Exchange on Sunday, said that the sale is in line with the Bank 's strategy; to improve returns on risk to the Bank 's shareholders .
    The sale process would also provide the opportunity for Burgan Bank to focus on the bank's main market in Kuwait and to further integrate and collaborate with subsidiary banks operating in Turkey, Algeria and Tunisia .
    The bank stated that the completion of the transaction is subject to obtaining the necessary approvals from the relevant regulatory authorities in Iraq .
    He pointed out that although this deal may have a negative one-time effect of 9 million Kuwaiti dinars ($ 29.8 million) on net income in 2019, it is expected to reverse part of this negative one-time effect of 4 million Kuwaiti dinars Almost after the deal is completed .
    He continued: Despite the negative impact, Burgan Bank expects to maintain a good level of profits for 2019 .
    Moreover, according to the statement, the deal will also have a positive impact on the quality of the assets of the Burgan Bank Group by reducing non-performing loans by approximately 34 million Kuwaiti dinars, which has an impact of about 70 basis points on the non-performing loan ratio of the group .


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    The [You must be registered and logged in to see this link.] of last year, to reach 67.45 million dinars, compared to profits of 70.96 million dinars for the same period in 2018 .
    As for the Bank of Baghdad, its [You must be registered and logged in to see this link.] of last year, to reach 534 million Iraqi dinars, compared to profits of about 19.13 million dinars for the same period in 2018 .
    [You must be registered and logged in to see this link.]

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