Burgan Bank Announces its Financial Results for the First Nine Months of 2025

Burgan Bank K.P.S.C (“Burgan Bank” or “the Bank”) announced its financial results for the nine months ended September 30, 2025 (9M’25). The results indicate continued operational progress and consistent performance across key business areas.

During the first nine months of 2025, the Bank recorded revenues of KD 192 million, representing a 16% increase year-on-year (y-o-y) compared to the same period in 2024. This growth was driven by strong performances in both Net Interest Income and Non-Interest Income. Net Interest Income rose 15% year-on-year to KD 128 million, supported by improved Net Interest Margins, which increased to 2.3% in 9M’25 from 2.2% in the same period last year, along with continued asset growth momentum. Non-Interest Income also registered solid growth, rising 19% year-on-year to KD 64 million, supported by contributions from the recently acquired United Gulf Bank (UGB). 

Driven by strong revenue performance, Burgan Bank achieved an Operating Profit of KD 76 million, up 9% year-on-year, while maintaining a steady Net Income of KD 32 million, reflecting the Bank’s resilient operations compared to 9M’24.

The Bank’s balance sheet continued to reflect robust growth. Total assets increased 15% year-on-year, reaching KD 8.9 billion as of September 30, 2025, driven mainly by expansion in Kuwait, where assets grew 10% to KD 6.8 billion. The loan portfolio rose to KD 4.7 billion, up 8% year-on-year, driven largely by the Kuwait business and supported by strong growth across its key subsidiaries. The Bank’s deposit base expanded by 3% to KD 5.2 billion, underscoring its stable funding position. Additionally, the Bank raised KD 90 million through its Certificate of Deposit program since its lauch in Feb’25, further diversifying funding sources and strengthening its liquidity and overall financial foundation.

Burgan Bank maintained a strong capital and liquidity position. The Common Equity Tier 1 (CET1) ratio stood at 11.4%, while the Capital Adequacy Ratio (CAR) reached 17.1%, both comfortably above the regulatory minimums of 10.5% and 14.0%, respectively. The Bank’s liquidity remained solid, with a Liquidity Coverage Ratio (LCR) of 229% and a Net Stable Funding Ratio (NSFR) of 112%, well above the 100% regulatory requirement—underscoring the Bank’s financial resilience and capacity to support continued growth.

Commenting on the nine-month financial results of 2025, Burgan Bank’s Chairman, Sheikh Abdullah Nasser Al-Sabah, said: “Burgan Bank upheld its stable performance despite emerging complexities across multiple aspects of the operating environment. Such resilience is owed to our forward-looking strategy, disciplined execution, and prudent risk management in the pursuit of creating sustainable long-term value for our shareholders, investing in our human capital, and providing a convenient and dynamic banking experience for our customers.”

He added: “As we move into the final quarter of the year, we continue to focus on strengthening our core operations in Kuwait and sustaining growth across the Group. In parallel, we continue to embed sustainable practices to create long-term value, while advancing the Bank’s role as a trusted partner to customers and communities.”

Mr. Tony Daher, Group Chief Executive Officer at Burgan Bank, said: “The third-quarter results demonstrate the Bank’s strength in delivering consistent earnings and sustaining a healthy balance sheet, even amid market challenges and shifting dynamics. The underlying business remains robust, underpinned by our disciplined management of costs and risk, and our continued commitment to  strong capital and liquidity positions.”

He added: “As we approach the end of this fiscal year, we continue to balance near-term priorities with long-term transformation, which encompasses advancing our digital agenda, enhancing our core banking systems, investing in our people, and continuing to integrate sustainability and ESG considerations as part of our strategic priorities. This steady and strategic progress positions us to adapt effectively to changing market dynamics and to deliver consistent value to our stakeholders.”

USD 500 Million International Bond Offering Successfully Completed

Burgan Bank successfully issued a USD 500 million five-year senior unsecured international bond under its USD 1.5 billion Euro Medium Term Note (EMTN) program via Burgan Senior SPC Limited. The bond, carrying a fixed coupon of 4.875% (spread of 115 basis points over US Treasuries), reinforces the Bank’s funding flexibility and supports its strategic growth initiatives.

The offering, aimed at international investors, attracted exceptional global demand, with an order book exceeding USD 1.9 billion—3.8 times the issuance size. Investor participation was geographically diverse, with 30% from the Middle East, 29% from UK / Europe, 38% from Asia, and 3% from the US, highlighting Burgan Bank’s strong reputation and broad appeal across key markets.

The successful issuance further enhances Burgan Bank’s liquidity profile, broadens its funding base, and positions the Bank to accelerate growth across Kuwait and regional markets, supporting its long-term strategic ambitions.

“This successful bond issuance reflects Burgan Bank’s strong position in international capital markets and underscores the confidence global investors have in our performance and growth strategy,” said Mr. Daher. “It reinforces our ability to execute our strategic objectives, strengthen our capital base, and continue delivering sustainable results for our stakeholders.”
This milestone highlights Burgan Bank’s financial resilience and the high level of investor confidence in its sustainable growth strategy. Rated A by Fitch and BBB+ by S&P, the bonds are scheduled for listing on the London Stock Exchange’s International Securities Market. Standard Chartered, HSBC, Citibank, Kamco Invest, and Mizuho acted as Global Coordinators, while ADCB, Bank ABC, DBS, ICBC, and Mashreq served as Joint Lead Managers.

Leading Digital Transformation with Excellence

As a steadfast supporter of Kuwait Vision 2035 and a proactive contributor to its goals of establishing a digital national economy, Burgan Bank continued to advance its robust digital transformation strategy, adopting new digital solutions and financial technologies that serve to elevate both banking and employment experiences. 

On the customer experience front, Burgan Bank became the first in Kuwait to adopt and roll out Visa’s Click to Pay digital payment solution, offering customers a faster, safer, and more convenient way to complete in-store and online payments. By opting for this biometrics-powered payment service, customers are only required to enter their full card details once at registration, enabling them to complete all following payments with a single tap on their internet-enabled devices and approve transactions using fingerprint or face recognition technologies.

In addition, the Bank achieved a shared  milestone for its IT and HR teams by signing a new partnership with global leader in enterprise applications and business AI, SAP. The new deal marks a major step toward deploying the cutting-edge, full-suite human resources management (HRM) system, SuccessFactors. The deployment of this data-driven, AI-enabled integrated system is an extension of the Bank’s mission to become an employer of choice and offer employees a year-round, bespoke, and holistic learning and development experience that advances their personal and professional skills.

Testifying to the Bank’s leadership in digital transformation and the strength of its digital infrastructure, the International Organization for Standardization and the International Electrotechnical Commission approved the renewal of the Bank’s ISO/IEC 20000-1:2018 certification. The decision followed a rigorous external audit, which validated the efficiency, scalability, and continuous improvement of Burgan Bank’s IT operations.

Investing in Future-Ready National Talents

Another strategic pillar that Burgan Bank continued to fortify during Q3’25 is that of human capital investment, which aims to foster a culture of continuous learning and benefits both employees and members of the wider community. At the intersection of digital transformation and human capital development, Burgan Bank launched a first-of-its-kind program in Kuwait: Data Champion, developed in strategic partnership with CODED, the region’s first dedicated coding academy. The month-long internal bootcamp offered 12 employees an intensive, hands-on opportunity to acquire and practice essential data analytics skills, including Power BI, Excel dashboards, and data storytelling, in addition to modules on data management, data analytics, and data modeling, supported by real-world case studies tailored to banking scenarios. 

At the culmination of the bootcamp, participants delivered a group capstone project, demonstrating their newfound skills in extracting insights, driving smarter decisions, and accelerating customer-centric innovation. The achievement was celebrated with a graduation ceremony attended by senior management and representatives from CODED.

Beyond its workforce, Burgan Bank shared its expansive digital transformation expertise with select representatives from Kuwait’s Ministry of Interior (MOI) in a three-month specialized training program, designed to equip national talents with essential digital skills needed to thrive in the digital era and lead Kuwait’s innovation and technology sectors.

Locally and Internationally Celebrated Achievements

Attesting to its outstanding performance and unwavering commitment to excellence, Burgan Bank was honored with the prestigious ‘Elite Quality Recognition Award’ for the year 2024 from J.P. Morgan Chase N.A., acknowledging the Bank’s committed adherence to the highest operational standards across the full range of clients’ USD fund transfers. This award placed Burgan Bank among a select group of institutions across the MENA region to receive the Elite category of the award for both its customer and bank-to-bank transfers.

On a national level, Burgan Bank was recognized by the Public Authority of Manpower as one of Kuwait’s most distinguished organizations for its outstanding achievements in Kuwaitization – which amounted to an exceptional 86% in 2024, marking one of the highest rates in Kuwait’s banking sector. This honorable recognition further affirmed the Bank’s commitment to investing in Kuwait’s national talents and qualifying a generation of aspiring calibers capable of leading the country’s vital sectors, including banking, finance, technology, and innovation.

Furthermore, Burgan Bank won the Brandon Hall Group Human Capital Management (HCM) Gold Award of Excellence for “Shaping Culture Through Learning”, under the “Best Learning Strategy” category. Earning its third consecutive Brandon Hall Excellence Award is a testament to the Bank’s unwavering commitment to developing national calibers as a key pillar of its sustainable growth.

In conclusion, Sheikh Abdullah Al-Sabah reaffirmed the Bank’s ongoing commitment to its comprehensive strategy for achieving long-term sustainable growth, with short-term plans that respond to investors’, customers’, and other stakeholders’ evolving needs, saying: “I am confident that the Bank’s exceptional professionals will uphold the same level of commitment to excellence over the course of the final quarter of 2025, laying the groundwork for a new year defined by grander goals and bigger achievements.”